Town of Pink Hill Approves Fiscal Year Budget for 2023-2024
Pink Hill - The Town of Pink Hill recently announced the approval of its fiscal year 2023-2024 budget ordinance. The budget, which outlines the allocation of funds for various departments and activities, was adopted by the Board of Commissioners on June 19, 2023.
According to the budget ordinance, a total of $739,057.26 has been appropriated in the General Fund for the operation of the town government and its activities. The funds will be distributed among different departments as follows:
Administrative: $180,218.95
Cultural & Recreation: $10,700.00
Environmental Protection: $117,101.50
Fire: $129,153.63
Police: $228,121.82
Streets: $36,735.00
Debt Service - Fire: $37,026.36
The estimated revenues available in the General Fund for the fiscal year are expected to amount to $739,057.26. These revenues will be derived from various sources such as ad valorem taxes, motor vehicle taxes, franchise tax, garbage collection fees, and other miscellaneous revenues.
In addition to the General Fund, the Water and Sewer Fund has been allocated a total of $628,396.51 for the operation of the water and sewer utilities. The estimated revenues in this fund for the fiscal year are expected to reach $628,396.51, primarily generated from water and sewer sales, as well as other sources.
The Economic Development Fund has been allocated a modest amount of $100.00, which will be supplemented by interest income.
Two capital projects have also been included in the budget. The StRAP – Pink Hill project, aimed at improving infrastructure, has been allocated $487,002.00 for construction and administrative purposes. Similarly, the W/S Asset Inventory & Assessment Grant project has been assigned a total of $121,800.00 to be utilized for sewer and water expenditures.
To finance the budget, the Town of Pink Hill has levied a property tax rate of $0.55 per $100 valuation of property. This rate is based on an estimated property valuation of $36,636,433 and a projected collection rate of 97%.
Lisa McGee has been appointed as the Budget Officer, responsible for overseeing the collection of revenues and expenditures of the appropriated amounts.
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