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Town accountant urges restraint until tax-season revenues arrive
Summary
Atlantic Beach accountant Paul Klein told council the town should conserve expenditures through the fall and winter while awaiting major revenue receipts (property-tax collections and business-license payments) that typically arrive January–May; he also noted recent assessment notices could increase 2024–25 revenues.
Paul Klein, the town’s contracted accountant, briefed the council on the town’s fiscal-year outlook at the Sept. 9 meeting and advised conservative spending until the town’s revenue season begins.
Klein explained that the town operates on a July 1–June 30 fiscal year and that the early months of the fiscal year often show negative net cash flow until property-tax collections and business-license receipts arrive in January through May. "After one month, it's kind of difficult to tell. Between now and January 1 what we want to do is try to conserve our expenditures as a town," he said, adding that the council had discussed controlling extenuating legal fees.
Klein also noted that recent property-assessment notices showing increased assessments will likely boost revenues for '24/'25 and could help the town's bottom line compared with the adopted budget.
Town officials scheduled a 2025–'26 budget workshop for Oct. 21, 2024, as part of the council's budget planning calendar; Klein urged council and staff to monitor expenditures through the spring revenue months and to reassess if revenue projections change.
