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Sewell's Point presents FY2025 budget that holds millage and shifts 0.4 mills to capital fund
Summary
Finance staff presented a proposed FY2025 budget that maintains the current property tax rate, reallocates 0.4 mills to a capital fund, recommends a 4% wage increase and flags rising fire-rescue costs; public hearings are scheduled in September.
Finance Director Mariah Peters presented the proposed fiscal year 2025 budget to the Sewell's Point Town Commission on Aug. 13, recommending the town keep its current property tax rate while transferring 0.4 mills to a capital fund to pay for projects.
Key points in the budget brief: proposed combined millage of 3.27 mills (2.87 mills general fund + 0.4 mills capital fund); maintain an operating reserve of $500,000, a disaster reserve of $1,000,000 and a fire-rescue reserve of $400,000; a recommended 4% increase to wages; and an IT/server upgrade forecasted in the capital plan. The draft capital-improvement plan includes a South River Road drainage estimate of $2,500,000, with the commission previously committing $250,000 from the capital mill fund to a small fix.
Peters said the proposed general fund is just over $4 million and the capital fund proposals are largely reimbursable grant-eligible projects. The town plans to use approximately $190,000 of this year's savings to balance the 2025 budget. The finance director noted that fire-rescue contract costs are projected to rise over the next several years and the town will need to plan to cover those increases.
Commissioners asked for clarifying information on reserve usage and staffing changes, including a proposed part-time building-inspection position. The commission scheduled two public hearings on the budget in September; staff will publish the detailed budget and accept public input before final adoption.
