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Finance director: March revenues up year over year; beach renourishment drives CIP balance
Summary
Hilton Head Island finance director reported March FY25 revenues of $3.1 million versus $2.3 million a year earlier, reviewed CIP spending that includes $16.5 million budgeted for beach renourishment, and flagged a negative land-acquisition balance that will require a budget amendment in May.
Finance Director Adrianna Bernhardt told the Finance & Administrative Committee that "for the month of March, we actually have, a total of of revenues collected of $3,100,000 compared to $2,300,000 from the prior year." She said the month’s general-fund receipts included about $1.7 million in business license fees, $483,000 in property-related taxes and roughly $258,000 in EMS revenue, and that year-to-date revenues for FY25 are higher than FY24 excluding transfers.
Bernhardt also reviewed expenditures and capital funds, saying general-fund March expenditures were about $3.9 million (mostly personnel and operating costs) and that the capital improvement program had year-to-date encumbrances of about $36.9 million with a remaining CIP balance near $46.8 million. She highlighted that a significant portion of that remaining balance is the $16.5 million budgeted for the beach-renourishment program and noted a negative balance of roughly $5.7 million under land acquisition that "a budget amendment to reflect this land acquisition is going to be presented to the town council in May."
