[1. Call to Order]
[00:00:03]
[2. FOIA Compliance]
ARE WE IN COMPLIANCE WITH FOYER? YES, SIR, WE ARE.[3. Adoption of the Agenda]
DO YOU HAVE ANY CHANGES TO TODAY'S AGENDA? NO.WE HAVE NO MINUTES TO APPROVE.
[5. Appearance by Citizens]
ON OUR AGENDA IS APPEARANCE BY CITIZENS.UM, I WILL WELCOME ANY CITIZENS TO SPEAK BEFORE US, UM, TODAY.
I'M SURE SADA HAS A LIST, BUT IF THERE'S ANYBODY ELSE THAT WANTS TO SPEAK, UH, FEEL FREE.
AND IF YOU COMMENTS ARE DIRECTED TO TODAY'S AGENDA ITEMS, YOU CAN WAIT UNTIL THEN.
UM, BUT FOR NOW, YOU CAN CALL THE ROLLS IN THERE.
MY NAME IS MELINDA TURNER AND I LIVE AT 20 LENNOX LANE IN PALM HALL.
I ATTENDED MY FIRST PUBLIC MEETING LAST WEEK, AND I'VE BEEN WATCHING THE VIDEOS AT THE TOWN COUNCIL MEETINGS, VIDEOS, THE WORKSHOPS GOING BACK TO JANUARY OF THIS YEAR.
TRANSPARENCY IS A CORE LEADERSHIP VALUE FOR ME, AND I WANNA COMPLIMENT THE TOWN ON THEIR WILLINGNESS TO MAKE SO MUCH INFORMATION AVAILABLE TO THE PUBLIC.
I'M CLOSE TO BEING CAUGHT UP, BUT THE LAST SET OF MEETINGS I LOOKED AT WERE THE BUDGET WORKSHOPS.
I KNOW SOME PEOPLE ARE WONDERING WHY AM I DOING THOSE? UM, AND IT WAS A WORKSHOP TO INCLUDE CAPITAL PLANNING AND I HAVE SOME OBSERVATIONS REGARDING THAT.
UH, FIRST OF ALL, THE AMOUNT OF PLAN DOLLARS OVER THE NEXT FIVE YEARS IS SUBSTANTIAL, TOTALING 233 MILLION WITH 2025 HAVING THE LARGEST SPEND OF 73.8 MILLION.
THESE NUMBERS DO NOT TAKE INTO ACCOUNT THE IMPACT OF THE RESILIENCY PLAN, WHICH I WOULD EXPECT WOULD REQUIRE A BIG INVESTMENT.
AS YOU LOOK AT MITIGATION STRATEGIES, POTENTIAL CHANGES FROM THE GATEWAY PROJECT REVIEW AND REQUESTS FROM NORTHPOINT TO NAME A FEW, I THINK YOU GET MY POINT THAT THERE MAY BE A LOT MORE REQUESTS COMING IN THE FUTURE.
THERE WILL NEED TO BE SOME SERIOUS WORK TO BUILD A PLAN TO FUND THESE STRATEGIES IN FUTURE YEARS.
ALTHOUGH FISCAL, FISCAL 2025 IS LESS THAN A YEAR AWAY, AND AGAIN, THAT HAS THE LARGEST IMPACT OF 73.8 MILLION.
PERSONALLY, I FEEL YOU SHOULD HAVE HAD THESE CONVERSATIONS PRIOR TO APPROVING YOUR CURRENT, YOUR PLAN SO THAT YOU WOULD HAVE A ROADMAP ON HOW YOU'RE GOING TO ADDRESS THIS.
THERE ARE A NUMBER OF STRATEGIES THAT CAN BE USED TO LAY OUT THAT ROADMAP, DRAWING DOWN YOUR FUND BALANCE, PAYING OUT OF OPERATIONS, CHANGES TO THE MILL RATE, WHICH IS GONNA BE A HOT TOPIC.
NOW GIVEN THE PROPERTY REASSESSMENT AND THE ARTICLE THAT THE ISLAND PACKET HAD LAST NIGHT.
ISSUING BONDS FUNDING MORE GRANTS OR OTHER FORMS OF FUNDING OR MAKING CUTS OR REPRIORITIZING, IT'S CLEAR YOU'RE MOVING TOWARD THE ISSU ISSUANCE OF BONDS AS YOU HAVE PUT IN A PLACEHOLDER FOR BOND EXPENSES AND INTERESTS IN YOUR PLAN.
AND AT YOUR LAST MEETING, YOU HAD INVESTMENT ADVISORS TALKING ABOUT I PRBS.
I THINK IT'LL BE INTERESTING TO SEE HOW RESIDENTS REACT TO THE THOUGHT OF MORE BORROWING WHEN YOUR CURRENT MESSAGING REGARDING THE FISCAL YEAR 2024 BUDGET WAS TO CELEBRATE THE SUCCESS OF YOUR DEBT REDUCTION.
AGAIN, IN MY OPINION, I THINK YOU NEED TO MOVE QUICKLY TO BUILD OUT A PLAN FOR YOUR OUT YEARS AND BE PREPARED TO ANSWER QUESTIONS ABOUT THE MILL RATE.
THANK YOU FOR THE OPPORTUNITY TO SHARE MY THOUGHTS.
LET ME READ YOU AN INTERESTING LETTER I WROTE TO CARLTON DALLAS, WHO NOW SERVES IN THE SCHOOL BOARD.
HE'S ALSO A CHAMBER MEMBER AND PAST PRESIDENT OF THE G C CARLTON.
I APPRECIATE YOU EDUCATING ALL OF US WHO ATTENDED THE REPUBLICAN FUNCTION ON GLOBAL ISSUES.
I MUCH PREFER FOCUS ON LOCAL ISSUES AND PROBLEMS THAT INVOLVED YOU WITH QUESTIONS AND STRAIGHT ANSWERS ON CORRUPTION.
MANY OF YOUR GLOBAL TOPICS LIKE OIL RESERVES AND PRODUCTION, WE GET ANSWERS FROM GOOGLE IN 10 SECONDS ON THIS.
WE NEED YOU TO NEED YOU TO ADDRESS LOCAL ISSUES ON CORRUPTION AND STOP IT AND FIX IT.
YOU ARE, YOU ARE THE PAST PRESIDENT OF THE GREATER ISLAND COUNCIL WHO, WHO AND WHO APPOINTED YOU TO THIS POSITION.
ALSO, WHY ARE THERE ARE SO MANY LOCAL OFFICIALS WHO ARE SO TARGETED TO BE MEMBERS OF THIS SECRET ORGANIZATION BY YOU AND COUNCILMAN STANFORD, ALSO A PAST G I C PRESIDENT WHO ASKED YOU TO GET INVOLVED.
ALSO, WHY SO MANY GATED COMMUNITY MANAGERS TARGETED LIKE PETER CHRISTIAN HILTON HAD PLANTATION, WHO IS NOW ALSO IN A LAWSUIT WITH JOE AR ORACH FOR ELECTION INTERFERENCE.
NOW MY SOURCES TELL ME LOCAL OFFICIALS ARE RESIGNING FROM GIC, ALSO PAST PRESIDENT COUNCIL
[00:05:01]
GLENN STANFORD, AGAIN, WHO APPOINTED YOU AND MANY OTHER OFFICIALS TO BE PART OF THIS ORGANIZATION WHO ASKED YOU TO GO, UH, UH, JOIN ORIGINALLY ALSO, MR. DALLAS.YOU, UH, YOU ATTENDED A HILTON HEAD FINANCE COMMITTEE MEETING TO OFFER A PLAN ON BILL MILES, HILTON HEAD, BLUFFTON CHAMBER ON B ON BEHALF OF BILL MILES TO AVOID FOYA.
AND HE IS, AND, AND, AND HOW HE'S USED 125 MILLION IN TAX FUNDS OVER 35 YEARS HE ILLEGALLY UNACCOUNTED FOR AND DISAPPEARED.
HAVE YOU SEEN THIS ACCOUNTING? THE ONLY PERSON WHO SAID HE'S SEEN THIS ACCOUNTING IS ALAN PERRY.
MR. PERRY IS IN BIG TROUBLE FOR THIS FINANCIAL FRAUD FOR HIS FRIEND BILL.
ALSO, JOSH GRUBER ALSO COMMITTED FRAUD AND HIRED LAWYER.
CROW PAID HIM 2000 IN TAX MONEY TO TELL ME THAT THE TOWN DOES NOT TO HAVE TO COMPLY TO BILL MILES FOIA.
MR. DALLAS, WHO SPECIFICALLY INVITED YOU TO ATTEND THIS FINANCE MEETING TO HIDE TAX FUNDS USED BY BILL MILES AGAIN PAST GIC PRESIDENT AND COUNCILMAN WITH GLEN GLENN, STANFORD WAS AT THAT MEETING IN ATTENDANCE.
AND WHY WOULD YOU SCHEME THIS PLAN WITH TOWN OFFICIALS TO AVOID FOIA LAWS VERSUS FILLING SUPPORT, UH, FOIA LAWS FOR ME AND ALL CITIZENS TO SEE HOW THE CHAMBERS USED THIS MONEY FOR 35 YEARS? ALSO, CARLTON, YOU ARE A CHAMBER MEMBER.
REPORTED YOU CH ATTENDED THE CHAMBER BALL, WERE INVITED TO THE CHAMBER BALL AND UH, UH, LIKE OTHER OFFICIALS IN QUID, UH, QUID PRO QUO.
AND WHY DID BILL MILES TELL YOU? EVERYONE AND EVERYONE, HIS USE OF TAX FUNDS WAS HIS SECRET SAUCE AND HE WOULD NOT PROVIDE THIS.
MR. STANFORD, SINCE YOU WERE AT THE FINANCE MEETING, WILL YOU TELL THE FBI ABOUT ALL OF THIS AND WHO INVITED MR. DALLAS TO COME FRAUD? UH, UH, AS A NON-ELECTED OFFICIAL? WAS THIS YOUR
YOU'RE BEING YOU OUT RISA PRINCE, MS. PRINCE.
I'D LIKE TO DEFER MY COMMENTS UNTIL AFTER MR. OKAY.
UH, LYNN GREELEY, MS. GREELEY, I'M HERE ON MS. GREELEY'S BEHALF AS A, AS A, UH, WITH A, WITH A POA, WHICH I'VE ALREADY SUBMITTED TO THE TOWN.
IT'S ALREADY A PART OF THE RECORD AND IT'S GOOD TO 2 24.
WE HAVE BEATEN THE CHAMBER OF LEGAL OPERATIONS ISSUED TO DEATH BEFORE THIS COUNCIL, YET YOU DISCONTINUE TO VOTE, GIVING THEM MILLIONS MORE.
AT SOME POINT, ALL COUNCIL PERSONS WILL HAVE TO ANSWER QUESTIONS IN VARIOUS INVESTIGATIONS BECAUSE THIS LEVEL OF THEFT JUST CAN'T CONTINUE FOREVER.
WE ALSO HAVE THE ISSUE OF FRAUDULENT BUDGETS AND YEAREND AUDITS BEING PRESENTED BY C P A TROYER.
NOT ONE SINGLE COUNCIL MEMBER CAN ATTEST TO THESE NUMBERS ARE TRUE AND ACCURATE.
TIMMY, WHY ARE YOU ALL ON, UH, EVEN SERVED ON THIS COUNCIL OR FINANCE COMMITTEE? IF YOU DON'T KNOW WHAT'S GOING ON, DON'T YOU HAVE TO STIPULATE TO A COMMON SET OF FACTS? AND HOW WOULD YOU KNOW THE FINANCIALS WITHOUT HIRING YOUR OWN INDEPENDENT CPA WOULD TOWN GOVERNMENT FORENSIC AUDIT KNOWLEDGE? YOU HAVE TO DO THAT.
YOU CAN'T DEPEND ON THESE EMPLOYEES.
HOW WILL YOU CONFIRM HOW THIS TOWN IS BEING RUN BY ORLANDO GRUBER, TROYER AND COLTRANE? IF YOU DON'T, THEY'VE ALL BEEN ALLEGED ALREADY TO ILLEGALLY USING AN ISSUING MILLIONS OF ENTITIES WHO REFUSE TO PROVIDE A TRANSPARENT ACCOUNTING OF THEIR EXPENDITURES.
WHAT IS WRONG HERE? YOU ALL PLEDGE AND CAMPAIGN TO SERVE HONESTLY AND TO APPROVE SPEND AND PROTECT OUR TAX MONEY.
LIKE YOUR OWN FACT IS YOU'RE DOING NOTHING AND YOU'VE INSTITUTED ZERO ACCOUNTING ON MILLIONS OF THEFTS, MISUSED, OVERCHARGED LEGAL FEES HIDDEN BY TROYER AND A CHAMBER AND CHAMBER ROBBERY.
WE KEEP ELECTING THE SAME ENTRENCHED, DISHONEST CANDIDATES, MANY WHOM THOUGHT WE, WE THOUGHT THEY WERE HONEST, WHO HAVE FAILED US AND NOW WE ARE STUCK WITH YET ANOTHER FOUR YEARS OF A FAILED PART-TIME.
MAYOR, MR. PERRY, HE SAID FOR THE FIFTH TIME PUBLICLY THAT HE SAW 80% OF THE CHAMBER OF ACCOUNTING WITH ALL RECEIPTS AND INVOICES.
IF HE CAN'T CONFIRM THIS, AND THE NAMES OF THOSE WHO SHOWED IT THAT TO HIM, SHOULDN'T HE RESIGN IMMEDIATELY AND BE REMOVED FOR FINANCIAL FRAUD? IS THAT NOT A FACT? INSTEAD, YOU SEEM MORE INTERESTED IN STOPPING MY PUBLIC COMMENTS AND TRYING TO PROHIBIT THE USE OF P O A TO SPEAK ON BEHALF OF CITIZENS.
AND IF YOU NOTICE, PERRY, EVERY TIME I'M FINISHED, THAT MALLET GOES DOWN HARD.
THIS IS JUST AN ONGOING EMBARRASSMENT TO THIS COMMUNITY.
AS ALL OF OUR COUNCIL WHO KEEP VOTING AND APPROVING OUR TAX FUNDS TO BE CONTINUALLY ILLEGALLY USED AND STOLEN WITHOUT ANY ACCOUNTING AND JUST DISAPPEARED IN THIN AIR.
YOU'VE GOT TO DO SOMETHING ABOUT THIS, ALEX.
YOU CAN'T JUST SIT UP THERE AND BE A FINANCE CHAIRMAN AND HAVE NO CLUE WHAT'S GOING ON.
I MEAN, WHY ARE WE EVEN HERE? WHY ARE YOU HERE?
[00:10:01]
I MEAN, WHY, WHY EVEN RUN FOR OFFICE IF YOU'RE NOT GONNA BELIEVE IN AN HONEST PUBLIC SERVICE? AND ALSO COMING UP THE DMO SOON WILL GO UP FOR BID AND WE MUST FORENSIC AUDIT THIS CHAMBER.RUN IT IN HOUSE, WOULD BE THE BEST WAY TO DO IT.
HIRE AN AD AGENCY AND I IMAGINE TAXPAYERS AND LOCAL ME MEDIA WILL REVOLT AND LAWSUITS WILL BEGIN IF AS SOON AS AS YOU LEAVE NO OTHER CHOICE, DO SOMETHING.
Y'ALL GONNA BE DEPOSED, YOU'RE GONNA UNDER OATH.
I DUNNO WHAT YOU'RE GONNA SAY.
ANYONE ELSE SIGNED UP TO SPEAK CYNTHIA? NO, SIR.
THAT CONCLUDES APPEARANCE BY CITIZENS.
[6.a. Presentation of Preliminary Fiscal Year 2023 Financial Information – John Troyer, Finance Director]
WE WILL MOVE ON TO OUR NEW BUSINESS WHERE WE WILL HAVE OUR FINANCE DIRECTOR, MR. JOHN.TROY, GIVE US A PRESENTATION ON, UH, FISCAL YEAR 2023.
THANK YOU, MS. THANK YOU, MR. CHAIRMAN.
UM, I'M HAPPY TO REPORT OUR, UM, 12 MONTHS ENDING.
UM, THERE'S SOME EXTRA NOTES INVOLVED HERE.
UM, I'D LIKE TO THANK, UM, MS. TENNER FOR HER COMMENTS AND QUESTIONS.
AND I'D LIKE TO, TO START WITH THAT, UM, TOWN COUNSEL ADOPTED AN ORDINANCE THAT SAID THE TAX RATE OR THE MILLAGE RATE WOULD BE, UH, THE CONSISTENT WITH THE PAST YEAR.
AND SO IT WOULD BE ROLLED BACK IN ACCORDANCE WITH THE, UM, REAPPRAISAL.
WE'VE BEEN WORKING CLOSELY WITH OUR COUNTY OFFICIALS AND TOWN COUNCIL WILL BE, UM, ABLE TO CONSIDER THAT ROLLBACK SOMETIME IN THE NEAR FUTURE.
AND SO, UH, JUST KNOW THAT, I HOPE THAT'S HELPFUL.
UM, ALRIGHT, MOVING RIGHT ALONG.
UM, ON OUR, UM, AND SO IT IS, IT'S IN THE ORDINANCE.
NOT EVERYTHING IS IN, BUT UM, THIS IS, THINK OF IT AS A, UH, A NEWSPAPER AND HERE'S TODAY'S NEWS AND HERE'S HOW IT IS, UM, ABOUT THE DAY THAT WE PUT THIS TOGETHER.
AND SO, UH, WHAT'S IN HERE AND WHAT'S NOT IN HERE.
THERE'S A NUMBER OF TRANSACTIONS THAT HAPPENED IN JULY THAT WE COUNT AS JUNE THAT ARE NOT YET POSTED.
AND SO WE'RE BETTER THAN 90%, PROBABLY 95% OF OUR TRANSACTIONS, BUT THAT DOESN'T NECESSARILY DIRECTLY CORRELATE WITH DOLLARS.
AND SO WE HAVE A FEW LARGE TRANSACTIONS YET TO COME.
AND SO I, I PUT THAT AT THE START OF OUR REPORT.
UM, CAN WE PAUSE FOR A MOMENT? UM, I'M NOT QUITE SURE HOW THE AUDIO IS FOR THE PUBLIC, BUT IT'S A LITTLE LOWER UP HERE.
WE'RE HAVING TROUBLE HEARING HIM.
WELL, I CAN HEAR MYSELF BETTER NOW.
UM, OKAY, BUT FOR THEM, SO JUST KNOW THAT THERE'S, UM, A NUMBER OF TRANSACTIONS YET TO COME, BUT THERE WE'RE NOT THAT FAR AWAY.
AND SO, UM, YOU WILL SEE ADDITIONAL UPDATES COMING SOON, BUT WE HAVE A GOOD REPORT SO FAR.
AND SO, UM, WE'D LIKE TO SAY THAT, UH, REVENUES ARE ON TRACK TO FULLY PROVIDE FOR THE BUDGET.
UM, IF ANYBODY WAS WORRIED THAT'S COVERED, UM, EXPENSES ARE ON TRACK TO FINISH WITHIN BUDGET, SO, OKAY, THERE'S A GOOD REPORT THERE.
UM, TOWN COUNCIL HAS DONE REALLY WELL TO BUILD RESERVES, DIVERSIFY, RE REVENUE STREAMS AND INVEST IN THE ISLAND.
AND I THINK BECAUSE OF TOWN COUNCIL'S PREVIOUS ACTIONS, UM, THIS HELPS, UM, OUR FINANCIAL REPORT BECAUSE OUR, OUR TOWN CONTINUES TO DO WELL.
UM, LAST YEAR WE HAD AN EXCEPTIONALLY GOOD YEAR, SO I'M HAPPY TO REPORT THAT WITH OLD NEWS.
UM, THERE'S A, THERE'S SOME NUMBERS YET TO BE REPORTED AND, UM, BUT LET ME JUST REPORT WHAT IS THERE.
GENERAL FUND REVENUES, UM, SINCE JANUARY HAVE BEEN VERY STRONG.
UM, YEAR TO DATE REVENUES ARE FOR GENERAL FUND.
UM, WE HAVE EXCEEDED THE LAST FOUR YEARS AND WE'VE, UM, MET BUDGET.
SO OUR GENERAL FUND HAS BEEN, UH, FULLY PROVIDED FOR, UH, REVENUE PREMIUM.
THESE OUR MIXED BAG AND WE'RE SHOWING OF THIS, THIS IS A GOOD SAMPLING OF OUR REVENUE ITEMS. UM, 99 MILLION WORTH LAST YEAR.
WE'VE COLLECTED A COMPARABLE 83 MILLION SO FAR, BUT WE'RE NOT FINISHED THAT HERE
[00:15:01]
WITH, UH, LAST YEAR'S NUMBERS.I THINK A COUPLE OF NUMBERS, I JUST KEEP AT THE TOTALS HERE.
FISCAL 21 WAS 86 6 AND FISCAL 22 IS 99 9.
WE ARE THROUGH THE DATE OF THIS REPORT, WHICH WAS, UH, ABOUT 10 DAYS AGO.
AND UH, WE'LL, WE'LL GET SUBSTANTIAL AMOUNT OF OUR JULY REVENUES STILL COUNT AS JUNE, SO THAT'S YET TO COME.
PIE CHART CHOICE, THAT'S 16 MILLION.
UM, WE STILL HAVE YET SUBSTANTIAL BEACH TAX, BEACH FEES, BEACH TAX, STATE TAX, LOCAL AID TAX YET TO COME AND THOSE WILL BE POSTED.
AND, UM, HELP COMPLETE THE PICTURE.
OUR PROPERTY TAXES, ACCESS 23 1, A NUMBER THAT WAS, WE'VE BEEN IN CONTACT WITH OUR FRIENDS COUNTY TO FINALIZE A REAR APPRAISAL NUMBER AND IT'S IN THE 21 MILL RANGE, BUT, UM, TOWN COUNCIL WILL HAVE AN OPPORTUNITY TO CONSIDER THAT AT A LATER DATE.
PROPERTY TAXES FULLY COLLECTED, STORMWATER ALMOST FULLY COLLECTED.
AND HERE'S AN INSTANCE, THE PROPERTY TAXES IN JUNE.
AND IF YOU LOOK AT SOME OF THE LATER REVENUES, JUNE, WE DO EXPECT A LOT.
AND SO WE'RE FINISHED FOR PROPERTY TAXES AND CERTAINLY FEEL FREE TO STOP ME ANYTIME.
EACH FEES, YOU CAN SEE LIGHT BLUE IN JUNE IS ALL THAT WE'VE SHOWN US CORRECTED IN JUNE, AND THEN OUR EXPECTATIONS ARE SIGNIFICANT.
UM, EACH PIECE YOU CAN SEE THE DIFFERENCE IN THE BLUE, THE GREEN CHIN, LAST YEAR'S NUMBER OF GREENNESS IN BLUE, BUT BLUE IS YET TO COME.
SO WE EXPECT A SIGNIFICANT AMOUNT OF COLLECTIONS IN THE WIDE.
EACH FEE YOU CAN SEE WE SHOULDN'T BE 20, YOU SHOULDN'T BE AT 21.
PROBABLY NOT QUITE MEET 22, BUT WE'RE HOPING THAT WE'LL BE CLOSE.
THERE'S JUST A LOOK AT THE SAME THING ON BLUE, UM, IS SHOWN AS THE CURRENT HERE AND HAVE A GOOD INCREASE WHEN WE GET ALL THE COLLECTIONS PLACED.
REAL ESTATE TRANSFER FEE, JUNE IS NOT IN THERE YET, BUT I CAN REPORT SINCE THESE, UM, CHART WERE MADE, JUNE HAS BEEN COLLECTED IN THE NUMBERS RIGHT AT $500,000 FOR JUNE, BUT NOT 20, NOT 21, BUT BETTER THAN 2020.
AND, AND THAT'S BEEN A SIMILAR, UM, REPORT THROUGH REAL ESTATE TRANSFER FEE ALL YEAR.
UM, MR. TROY, UM, I KNOW WE HAVE, UM, THE PAST HAVE SOME COMMUNICATION WITH THE, UH, THE REAL ESTATE, UH, PROFESSIONALS.
UM, AND BECAUSE THIS ITEM, UM, HAS A DIRECT CORRELATION TO, UH, FUNDING THAT WE USE TO ACQUIRE PROPERTIES, UM, AND OF COURSE THE, THE, THE MARKET IS, UH, AS, AS SHOWN IN THIS CHARTS WHEN SOME, SOME SOFTENING IN IN THE REAL ESTATE WORLD.
UM, THE NEXT REPORT, CAN WE DIVE A LITTLE BIT DEEPER ON THIS AND HAVE A LITTLE BETTER OF UNDERSTANDING, UH, AS FAR AS THIS TREND AND WHERE IT MAY LEAVE US AS FAR AS AVAILABLE CAPITAL IN THE FUTURE FOR, FOR LAND ACQUISITION? YES, I'M HAPPY, I'M HAPPY TO REPORT THAT.
AND UM, YEAH, CUZ THIS SHOWS THE REVENUE SIDE, IT DOESN'T SHOW THE SPENDING SIDE AND SO WE'LL, WE'LL GIVE AN UPDATE FOR BOTH.
UM, AND SO THE COMMUNICATION THAT WE'VE HAD WITH THE REAL ESTATE COMMUNITY, UM, HAS BEEN CERTAINLY SUPPORTIVE.
UM, AND THEY DO PAY CLOSE ATTENTION TO THE INVESTMENTS THE TOWN MAKES, UM, WITH THESE FEES.
AND SO, UM, THAT'S, THAT'S HIGH ON THEIR LIST OF IMPORTANT ITEMS AND THEY'RE HAPPY TO SEE THESE.
UM, UH, SO THEY WERE CERTAINLY AFFIRMING AND SUPPORTED THE EXTENSION OF REAL ESTATE TRANSFER FEE, UM, AND THEY SUPPORTED THE PRIOR USE OF THE FEE FOR,
[00:20:01]
UH, THE PURPOSES THAT WAS USED FOR PURCHASING THE PLAN.UM, AND SO I'M SURE THEY WOULD SUPPORT THAT AS WELL GOING FORWARD.
AND SO WE'RE, WE'LL INCLUDE THAT.
UM, YOU CAN SEE WITH, UM, THE 2023 FLATTENING OFF, THAT JUST MEANS THAT IT HASN'T BEEN POSTED YET, BUT IT IS ANOTHER, UM, 500,000.
SO, UH, A VERY CONSISTENT MESSAGE THAT WE'RE 2020, IF YOU JUST LOOKED AT THAT BY ITSELF WAS THOUGHT TO BE A GOOD YEAR IN 2021 AND 2022 WERE ASTOUNDING AND WE'RE NOT QUITE AS GOOD AS THAT, BUT BETTER THAN WE WERE AT 2020.
UH, WE DON'T QUITE HAVE EVERYTHING POSTED.
IF YOU JUST LOOK AT JUNE, JUST THE BLUE, IT'S WAY LOW AND THAT'S ONLY BECAUSE NOT ALL OF THE BUSINESSES HAVE TURNED IN THEIR QUARTERLY RETURNS.
SOME RETURNS ARE MONTHLY, MOST ARE QUARTERLY.
AND SO WE EXPECT, UM, FINANCIAL COLLECTIONS HERE IN THIS MONTH AND WE'LL BE ABLE TO REPORT THAT VERY, VERY SOON.
WE'RE BETTER THAN 20 20, 20 21, THAT POINT 2022.
IT'LL BE INTERESTING TO SEE WHERE THIS FALLS.
IT, IT'S BEEN A LITTLE ABOVE, A LITTLE BELOW, AND SO, UM, WE'LL SEE.
AND OF COURSE, HOSPITALITY IS, UH,
NO, IT STRIKES ME THAT THESE NUMBERS ARE MISLEADING BECAUSE YOU'VE GOT MAJOR, UH, ADDITIONS THAT NEED TO BE MADE HERE, AND SO IT LOOKS LIKE IT'S DOWN, BUT MY GUESS IS WHEN YOU COMPLETE THE REST OF YOUR APPLICATIONS IN HERE, UH, IT'S GONNA LOOK A LOT MORE NORMAL.
WELL, WE WANTED TO BE ABLE TO, UM, TELL YOU ABOUT, HERE'S WHERE WE ARE SO FAR, AND IT TAKES A LITTLE MORE, UM, COMMENTARY OR NARRATIVE TO, TO TALK ABOUT WHAT'S NOT THERE AND HOW WE EXPECT.
AND SO OUR CHAIRMAN HAS, UM, THAT WE'VE HAD A COUPLE OF DISCUSSIONS AND, AND CERTAINLY HUNG ON HIS LIST, IS HOW IS IT GONNA LOOK WHEN IT'S FINISHED AND
SO, UM, THAT, THAT'S BEEN ON OUR MIND AS WELL.
I THINK WHEN IT ALL IS SAID AND DONE, IT'S GOING TO BE A VERY, VERY STRONG YEAR.
UM, I I'M A LITTLE HESITANT TO HOW MUCH UNTIL WE HAVE COLLECTIONS AND ESPECIALLY WHEN OUR NUMBERS ARE GONNA BE SO SOON.
UM, MR. TROY, WHAT IS THE DATE WHEN EVERYTHING IS SAID AND DONE, WE HAVE ASKED ALL THE DEPARTMENTS TO, UM, SUBMIT ALL THE BILLS THAT RELATE TO 2023 BY THE END OF JULY.
SO THAT'S THE EXPENSE SIDE, BUT EVEN, EVEN AFTER THAT, THERE'S, THERE'S SOME THAT GET RECORDED THAT WE KNOW THAT WE WOULDN'T GET FOR, BUT WE STILL NEED TO RECORD THOSE EXPENSES.
BUT IT, IT GIVES US A, A REALLY GOOD FIRST LOOK.
AND SIMILARLY, UM, REVENUES AT THE END OF JULY, WE SHOULD GET EVERYTHING POSTED FIRST WEEK OF AUGUST OR SO, UM, FOR JUNE 30TH.
SO THE FINAL PICTURE FOR THE JUNE 30 FISCAL YEAR IS REALLY AVAILABLE IN AUGUST.
IS THAT RIGHT? EARLY PICTURE? WE'RE STILL DOING ADJUSTMENTS, BUT UM, THE AMOUNT OF ADJUSTMENTS ARE SIGNIFICANTLY LOWER AND, AND SOME OF THESE OUTSTANDING ITEMS LIKE BEACH FEES AND HOSPITALITY TAXES, UM, ARE LOCKED IN SHORT TERM RENTALS.
6,600, UM, PERMITS SO FAR AND GROWING.
UM, AND, AND SO THEN THE NUMBER JUMPED UP VERY QUICKLY.
UM, STILL CONTINUE TO LOOK, WE STILL CONTINUE TO ADD PERMITS EVERY SINGLE WEEK, AND SO, UH, WE EXPECT THESE NUMBERS TO CONTINUE TO GO UP, BUT NOT AS, UM, AS, UH, FAST AS THEY HAVE EARLIER IN THE YEAR.
MICROPHONE, I, I SEE SOME PEOPLE IN THE AUDIENCE WHO MIGHT BE ABLE TO HELP ME DOWNSTREAM SO IT'S NOT DIRECT AT YOU.
I WOULD BE INTERESTED IN KNOWING THE NUMBER OF SHORT TERM RENTALS, WHICH WE HAVE, THE NUMBER OF, UM, TIMESHARES THAT WE HAVE, BUT ALSO THE NUMBER OF HOTEL ROOMS. I WOULD LIKE TO KNOW THE TOTAL NUMBER OF ACCOMMODATIONS ISLAND AVAILABLE ON A SHORT TERM BASIS.
AND WE, WE HAD AN INITIAL LOOK TODAY.
UM, TIMESHARES IS RIGHT AT 3000 AND WE HAD HEARD A PRELIMINARY NUMBER, UM, UH, HOTEL ROOMS AT 3000.
SO WE'LL DELVE DEEPER INTO THAT AND SEE IF WE CAN HAVE A MORE COMPLETE REPORT.
[00:25:03]
BUSINESS LICENSES, UM, LOCAL BUSINESS LICENSES, YOU CAN SEE OUR HIGHEST TWO MONTHS ARE MARCH AND APRIL.UM, AND THIS IS AS OPPOSED TO, UM, AND OUR YEAR TO DATE.
SO OUR YEAR TO DATE BUSINESS LICENSES HAVE ALREADY EXCEEDED 2022 AND 2021.
UM, THIS IS, UH, A REALLY GOOD CASE FOR OUR LOCAL ECONOMY.
UM, AND, AND SO WE'RE NOT EXPECTING MUCH MORE HERE, UM, THROUGHOUT THE YEAR, BUT ON THE STATE, UM, BUSINESS LICENSES, THERE ARE, UM, SOME EXPECTATIONS FOR FUTURE COLLECTIONS.
AND SO YOU CAN SEE IF YOU LOOK AT THE BUSINESS LICENSES THAT'S COLLECTED BY THE STATE, AND IT'S RELATED TO OUR SECOND ITEM ON THE AGENDA IS PRIMARILY JUNE AND FINISHED UP IN JUNE.
AND SO WE HAVE TRADITIONALLY GOTTEN MONEY FROM THE STATE FROM MSC IN JULY, WE POSTED TO JUNE, AND IT'S SUBSTANTIAL OR MOST OF A YEAR'S WORTH OF COLLECTIONS.
YOU CAN SEE THERE'S BEEN A COUPLE OF PAYMENTS AT ODD TIMES OF THE YEAR, BUT, UH, THOSE ARE MORE ANOMALIES.
UM, BUT WE'RE THANKFUL FOR EVERYTHING THAT'S COLLECT BEFORE YOU MOVE OFF OF THE BUSINESS LICENSE.
UM, MR. TROY, PARTICULARLY ON THE LOCAL SIDE, UM, IT'S UNDERSTOOD THAT THE, UH, THE STATE OF THE ECONOMY ACT IS GOING TO AFFECT WHAT THESE GRAPHS LOOK LIKE.
UM, BUT MY QUESTION IS WE HAVE A WAY OF TRACKING THE ACTUAL BUSINESS LICENSE AS A UNIT AFTER YEAR, NOW THAT WE'VE KIND OF CAUGHT UP FROM RECLASSIFICATION, THAT SORT OF THING.
SO I'M CURIOUS TO KNOW MOVING FORWARD, NOT TODAY, UM, BUT IN 2022, DO WE HAVE A HUNDRED BUSINESS LICENSE? AND IN 2023, DO WE HAVE 150 JUST TO GET A BETTER READ AS TO HOW WE'RE PERFORMING AS FAR AS BUSINESSES OPENING AND CLOSING? YEAH, WE'LL MAKE A, WE'LL MAKE A REPORT ABOUT THAT.
UM, THERE'S A SURPRISING NUMBER OF OPEN FOR NEW BUSINESS AND CLOSING NEW BUSINESS EACH YEAR, BUT THE NUMBER OF BUSINESSES HAS BEEN PRETTY STEADY.
BUT WE'LL, WE'LL ADD SOME DETAIL HERE IN THE FUTURE.
AND THEN ALSO ON OUR AGENDA IS, UM, ABOUT REPORTING BY, UH, BUSINESS CLASS.
AND SO, UM, WE'LL TRY TO GET SOME INFORMATION THERE.
UM, AS BUSINESSES MAKE THEIR RETURNS, THEN THOSE RETURNS ARE, UM, PRIVATE INFORMATION, BUT WE CAN REPORT ON BUSINESS CLASSES AND WE'LL, WE'LL GLADLY SHARE THAT.
SO, UH, LOCAL BUSINESS WE'RE EXTREMELY HAPPY WITH, UM, WHERE WE FINISHED UP.
MESC HAS BEEN KIND OF A WILD CARD, UM, JUST BECAUSE WE'VE GOTTEN SOME, UH, EXTRA PAYMENTS AND WE'RE GLAD ABOUT THAT.
ANOTHER CHART SHOWS OUR, OUR GROWTH OF OUR LOCAL, OUR M A S C.
THE BUSINESS LICENSE IS, IS IT TO COME INTEREST EARNINGS HAPPINESS CAN BE TO REPORT THIS IS THAT, UM, WE HAVE REFINED AND, UM, IMPROVED OUR METHODOLOGY ON OUR INVESTMENTS.
AND SO WE HAVE TRADITIONALLY USED OUR LOCAL GOVERNMENT INVESTMENT TOOL BASICALLY INVESTING WITH THE STATE AND WE'VE DONE WELL.
UM, BUT WE'VE SINCE, UM, TAKEN JUST A LITTLE BIT DIFFERENT TACT IN, UM, INVESTING IN SOME TREASURIES.
WE HAVE, WE HAVE A LADDER, SO WE DON'T GO OUT TOO FAR AND WE NEVER, UM, DO TOO MUCH IN ANY ONE, UM, THING.
BUT, UM, AS THE FEDERAL RESERVE RAISED INTEREST RATES THIS YEAR, WE TOOK FULL ADVANTAGE OF IT AND WE'RE HAPPY TO REPORT, UM, REALLY GOOD NUMBERS.
YOU CAN SEE JUNE, UH, LOOK AT JUNE AND, AND 2023 IS BROWN AND IT, IT DOESN'T EVEN MEET THE 2022 NUMBER.
OUR NUMBER FOR JUNE IS GOING TO BE MORE IN 2023 THAN 2022 THAT IT WILL BE.
AND SO THAT IT UNDERSCORES THAT THERE'S YET, UM, PEOPLE HAVEN'T TURNED IN ALL THEIR BILLS.
IT'S NOT QUITE THE END OF JULY, WHICH IS WHAT WE HAVE ASKED ALL THE DEPARTMENTS TO DO.
AND, AND THAT'S A PIECE OF IT.
[00:30:14]
TESTING, TESTING.UM, SO IT'S COMING, UH, FOUR, THREE STRIKES IS
OKAY, MOVING RIGHT A LEG, UH, RIGHT ALONG.
UM, WE WERE RIGHT WHERE WE EXPECTED TO BE.
UM, UM, OUR ONE, UM, CATEGORY THAT'S LESS THAN LAST YEAR WAS TOWN WIDE.
WE, WE TRIED TO ALLOCATE THE EXPENSES TO THE DEPARTMENTS AS MUCH AS WE COULD.
AND SO, UM, YOU'RE SEEING A LITTLE BIT OF THAT.
AND SO PART OF THE REASON WHY THE, UM, DEPARTMENTS ARE UP A LITTLE BIT AND TOWN WIDE, IT'S DOWN A LITTLE BIT, IS WE WERE PURPOSELY TRYING TO, UH, PUSH MORE INTO THE DEPARTMENTS AND LESS INTO TOWN WIDE.
UM, WHAT IS TOWN WIDE, UH, TOWN WIDE IS, IS THINGS THAT ARE NOT ALLOCATED TO THE DEPARTMENTS, LIKE OUR INSURANCE PREMIUMS, OUR UTILITY BILLS, AND, UH, THINGS THAT ARE NOT EASILY ALLOCATED TO A DEPARTMENT.
UM, GENERAL FUND EXPENDITURES, UM, UH, I NEED TO HIGHLIGHT THAT.
UM, FINANCE, UH, THE, THE ONE DEPARTMENT THAT WAS OVER BUDGET, UM, JUST KNOW THAT, UM, THERE IS SOME AUTHORITY FOR THE TOWN MANAGER TO, UM, MAKE, UM, BUDGET BUDGETARY ADJUSTMENTS.
AND THE BUDGETARY ADJUSTMENT WAS NEEDED BECAUSE WE COLLECTED MORE THAN WE EXPECTED.
AND SO OUR BANKING CHARGES WERE HIGHER THAN EXPECTED.
AND SO IT'S A GOOD REASON TO BE OVER BUDGET.
WE'VE SINCE, UM, DONE A BUDGET ADJUSTMENT, UM, TO TAKE CARE OF THAT.
AND SO IF YOU WERE CONCERNED THAT FINANCE WAS OVERSPENDING, IT'S BECAUSE WE'RE COLLECTING SO WELL, GENERAL FUND ACTIVITY.
LAST YEAR WE PUT BACK $3 MILLION INTO THE GENERAL FUND.
AND SO ALL IN, WE HAVE 47 MILLION COLLECTED, 43, ALMOST 44, UM, SPENT.
AND SO $3 MILLION BACK TO, UM, THE FUND BALANCE TOWN COUNCIL LATER SAID, UH, A MILLION DOLLARS FROM THE FUND BALANCE TO HOUSING PURPOSES, WHICH IS IN THE 24 BUDGET.
UM, NET YOU CAN SEE THERE'S KIND OF A MIXED BAG.
AND SO WE WILL, THIS BEING EARLY, UH, JUNE DOESN'T NECESSARILY TELL US THE NUMBER, BUT THE NEXT SLIDE, IF YOU WERE TO COMPARE 2023 WITH THE LAST FOUR YEARS, WHERE WE ARE TODAY, WE'RE BETTER THAN THE LAST FOUR YEARS.
UM, SO, UM, IT'LL BE INTERESTING TO SEE WHAT THE NEXT, UH, FEW WEEKS PROVIDE.
BUT, UM, AT THIS MOMENT IN TIME, WE'RE BETTER THAN WE WERE THE LAST FOUR YEARS.
UM, THIS IS HOW WE, UM, COLLECT THE, UM, FUNDS TO PAY OUR DEBTS AND, UM, TO PAY THOSE OFF.
AND SO WE PROVIDED FOR OUR DEBTS, UM, STORM WATER, SAME THING.
UM, MUCH OF THE STORM WATER ACTIVITY OR IS, UH, CAPITAL PROJECTS.
AND SO, UM, WE EXPECT THAT THERE'LL BE, UM, SOME AMOUNT OF BUDGETARY LEFT OVER THERE FOR CAPITAL PROJECTS IN PROCESS FOR STORMWATER.
UM, WE DO HAVE C I P AND I HAVE A SPECIAL GUEST WHO IS VOLUNTEERED TO GIVE US A, A VERY QUICK UPDATE ON THE, UM, C I P AND I'M SURE SHE'LL HAVE LESS ECHO THAN ME.
HELLO, JENNIFER RAY, CAPITAL PROGRAM MANAGER FOR THE RECORD.
AND JUST WANTED TO SHARE THAT, YOU KNOW, WE'VE BEEN IN A PLANNING AND DESIGN YEAR AND F Y 23.
WE HAD A LOT OF PROJECTS THAT ARE STILL COMING THROUGH TOWN COUNCIL APPROVAL WITH SOME MAJOR PARKS AND PROJECTS THAT WE'VE BEEN IN PERMITTING TO GET READY FOR CONSTRUCTION.
AND WE ANTICIPATE GOING TO CONSTRUCTION FOR A LOT OF PROJECTS IN THIS UPCOMING YEAR.
UM, SPECIFICALLY ISLANDER BEACH PARK.
WE'LL START THAT MAIN, UM, CENTRAL PATHWAY THERE.
WE HAVE WOODHAVEN AND SHELTER COVE PATHWAYS THAT WILL START CONSTRUCTION HERE AFTER THE END OF THE BUS BUSIEST PART OF THE SEASON.
TOWN HALL IMPROVEMENTS ARE ALMOST FINISHED.
THE PALMETTO BAY ROAD AND ARROW ROAD INTERSECTION IS ALMOST FINISHED.
WE HAVE BEACH, UM, PARK BOARDWALKS THAT WILL START CONSTRUCTION IN, UM, SEPTEMBER, OCTOBER, NOVEMBER.
LIKE WE'LL STAGGER THOSE OUT SO THAT EVERYTHING'S NOT CLOSED AT THE SAME TIME.
WE HAVE SOME DIRT ROADS THAT WILL GO INTO CONSTRUCTION
[00:35:01]
THIS FISCAL YEAR AND, UM, OLD SCHOOL HOUSE PARK AND UM, AS JOHN MENTIONED, SOME STORMWATER PROJECTS.AND THEN THE PARKS THAT ARE GETTING APPROVED WILL BE SWITCHING INTO THAT DETAILED DESIGN AND PERMITTING TO GEAR UP FOR THE NEXT BATCH OF CONSTRUCTION.
SO WE HAVE A GOOD MIX OF THINGS THIS YEAR.
WE'RE FINALLY TO THE POINT THAT I CAN SAY THAT WE, WE HAVE A GOOD MIX OF WHAT'LL BE IN, UM, PLANNING AND DESIGN AND PERMITTING AND THEN IN CONSTRUCTION SO THAT WE'LL GET INTO THAT PATTERN OF, OF ALWAYS HAVING SOMETHING THAT PEOPLE CAN SEE COMING UP OUTTA THE GROUND.
UM, WE'RE ALWAYS, UM, VERY BUSY OR ALWAYS HAVE A LOT GOING ON.
IT'S JUST NOT STUFF THAT YOU SEE.
AND YOU ALL KNOW FROM STUFF THAT WE COME THROUGH WITH WORKSHOP THAT THERE'S A LOT IN THE PLANNING PROCESS AND IT TAKES A GOOD BIT OF TIME, BUT PEOPLE GET EXCITED WHEN THEY SEE STUFF COMING UP OUT OF THE GROUND.
WE HAVE, UM, TWO POSITIONS THAT WE'RE TRYING TO ADD, UM, THAT YOU ALL APPROVED IN THE BUDGET FOR CONSTRUCTION PROJECT MANAGERS.
ONE IS OUT NOW AND WE'VE HAD OVER 25, UM, APPLICATIONS FOR THAT, SOME REALLY GOOD CANDIDATES THAT WE'RE IN THE PROCESS OF INTERVIEWING.
AND THEN ONE THAT WILL BRING ONLINE IN JANUARY.
WE ALSO HAVE SOME INTEREST IN SOME PART-TIME CONSTRUCTION MANAGEMENT, UM, ASSISTANCE, SO THAT'S GOOD.
AND THEN WE ARE ALSO TAKING SOME STRATEGIES TO BATCH PROJECTS TOGETHER.
SO WE BID OUT WOODHAVEN PATHWAY AS A STANDALONE PROJECT AND WE HAD ONE, ONE BIDDER, SO WE'RE GONNA PUT THAT BACK OUT.
WE BELIEVE WITH OUR SHELTER COVE PATHWAY AND THE ISLANDERS PATHWAY AND HAVE THREE OR FOUR PROJECTS TOGETHER, WE'RE GONNA DO THE SAME THING WITH DIRT ROAD PAVING AND PUT TWO OR THREE TOGETHER SO THAT IF IT'S A LARGER PROJECT, IT MIGHT BE MORE ATTRACTIVE AND WORTH A CONTRACTOR'S TIME, UM, AT THIS POINT CUZ THERE'S SO MUCH COMPETITION OUT THERE.
SO WE'RE DOING THINGS THAT WE CAN TO TRY TO HAVE MORE HAPPENING ON THE GROUND SO THAT YOU AND YOUR CONSTITUENTS IN OUR COMMUNITY WILL SEE.
SO THAT'S THE STATUS OF WHAT'S GOING ON IN CAPITAL PROJECTS RIGHT NOW.
ANY QUESTIONS FOR JENNIFER? YES, JENNIFER.
UM, HERE'S A HYPOTHETICAL, 40 MILLION IN THE CIP BUDGET MM-HMM.
ARE WE ALWAYS PRODUCING ABOUT 40 MILLION DURING A FISCAL YEAR AND CARRYING OVER THE 20, IS IT PRETTY CONSISTENT THAT WE'RE GOING TO BE CARRYING OVER THAT 20 MILLION OR IS BUILDING CAPACITY GOING TO DECREASE THAT NUMBER OVER TIME? THAT'S A REALLY GOOD QUESTION.
HISTORICALLY, 12 TO 15 MILLION WAS WHAT WE WERE ABLE TO, UM, ACCOMPLISH IN ANY GIVEN YEAR.
I THINK WITH THE INCREASED CAPACITY, THE FOCUS ON CAPITAL PROJECTS BEING A STANDALONE DIVISION, AND THEN THE ADDITIONAL STAFF IS GONNA HELP US GET CLOSER TO THAT 20.
UM, BUT I DON'T KNOW THAT 40 IS EVER IS EVER ATTAINABLE BECAUSE WHILE WE COULD ADD MORE AND MORE STAFF, AND Y'ALL HAVE CERTAINLY FUNDED MORE, THERE IS A CARRYING CAPACITY FOR THE ISLAND IN TERMS OF THE NUMBER OF CONTRACTORS.
AND THEN OUR WINDOW, SO MANY OF OUR PROJECTS ARE LABOR DAY TO HERITAGE, RIGHT? BECAUSE WE DON'T WANNA BE, UM, BUILDING OUT THERE IN THE WAY OF, UM, OUR RESIDENTS THAT ARE OUT TRYING TO ENJOY OUR AMENITIES OR ALL OF OUR VISITORS HERE.
SO THEY'RE VERY, THERE'S SOME PROJECTS THAT WE CAN DO DURING THE SEASON, BUT MORE OF THEM, SO THERE'S A LOT MORE COMPETITION.
SO I, I'M, THE GOAL IS TO GET CLOSER TO THAT 40, BUT HONESTLY, I DON'T THINK WE'LL EVER BE GENERATING THAT MUCH UNLESS IT'S A FEW REALLY BIG PROJECTS.
LIKE WHEN WE HAD LOW COUNTRY CELEBRATION PARK UNDER CONSTRUCTION, IF WE GET, WE GO OUT AND WE BUILD ALL OF PHASE ONE OF MID ISLAND PARK AND THAT'S A LARGE, SOME PROJECTS LIKE THAT WILL TIP US THAT DIRECTION, BUT NOT WHEN IT'S A WHOLE BUNCH OF SMALLER, UM, ONES AND TWOS.
YOU'VE DONE AN OUTSTANDING JOB MANAGING VAST ARRAY OF PROJECTS AND SO I SALUTE YOU FOR YOUR EFFORTS.
I'M GLAD TO HEAR WE'RE GETTING YOU SOME SUPPORT.
UM, REVENUE TRENDS, UM, THESE ARE THE SAME 13.
AND SO I, I, I PICKED THESE BACK A COUPLE OF YEARS AGO.
IT WAS BACK IN 2019, UM, OR NO, I GUESS IT WAS IN 2020, BUT A AS KIND OF A A, A SAMPLE, A WAY TO, UH, GIVE COUNSEL, UM, UH, THEIR FINGERS ON THE PULSE, SO TO SPEAK, OF OUR ECONOMIC, UM, ACTIVITY AND, AND THESE 13 REVENUES, UM, AS A MEASURE OF HOW ARE WE DOING? AND SO TO HELP ANSWER THE QUESTION, HOW ARE WE DOING FISCALLY? AND SO YOU CAN SEE OVER TIME, 2019
[00:40:01]
SMALL DROP, VERY SLIGHT DROP IN 2020 BECAUSE 2020 STARTED SO STRONG.AND THEN WITH COVID SHUT DOWN AND THEN WHAT A TREMENDOUS BOUNCE BACK IN 21 AND ANOTHER BOUNCE BACK IN 22.
AND AS WE BUILT THE BUDGET 21 AND 22, THE DISCUSSIONS WERE HOW, HOW ARE WE GONNA DO AFTER COVID, WHAT IS IT GONNA LOOK LIKE? AND THERE WAS CONCERN AND YET, UM, THE TOWN HAS AS HAS EXCEEDED ITS EXPECTATIONS IN BOTH YEARS AND EXCEEDED THEM SUBSTANTIALLY.
JOHN, IS THERE A KEY THAT DESCRIBES WHAT EACH ONE OF THESE COLORS REPRESENTS? THEY ARE AND SHOULD BE THE SAME ORDER AS THE EARLIER SCHEDULE.
UM, IF YOU LOOK WAY EARLIER THAN THIS, HER MIND
BUT IT GIVE YOU, AND I CAN, I CAN ADD MORE DETAIL HERE AS WE GET OUR NEXT, DO AN ABBREVIATION NEXT TO THE COLORS
BUT YEAH, THAT WAS JUST ME TRYING TO CAPTURE A, A SENSE OF, I THINK IT'S IMPORTANT GRAPH.
AND SO LET ME SKIP AHEAD INFORMATION.
AND IF YOU LOOK, UH, OF THESE 13 REVENUES, 83 MILLION IS COLLECTED YEAR TO DATE.
I THINK IF YOU ADD IN, AND I DON'T HAVE THE NUMBERS RIGHT IN FRONT OF ME, BUT IT COULD VERY, VERY EASILY BE 12 OR 14, UM, IN ADDITION TO, THAT'S GOING TO BE COLLECTED IN JULY.
SO IF YOU LOOK AT 83 PLUS MAYBE 13, AND WE'LL LOOK AT MAYBE 96, 97 ISH, UM, FOR ANYONE WHO'S TRYING TO MAKE PREDICTIONS.
BUT, UM, YEAH, GENERALLY, UH, PEOPLE IN MY PROFESSION ARE, ARE PEOPLE WHO LOOK BACKWARDS AND, AND SAY, HERE'S WHAT THE NUMBERS WERE AND NOT AS MUCH AS WHAT THE NUMBERS WILL BE, BUT I, I CAN SEE THAT WE WILL PROBABLY BE VERY, VERY CLOSE TO THAT 100 AGAIN, BUT, UM, PROBABLY SLIGHTLY LESS.
AND, AND SO I'M, I'M THINKING WE MIGHT HIT 97, 98, BUT IN THE NEXT FOUR WEEKS OR SO WILL TELL US A LOT.
SO, UM, AS WE WERE CONCERNED, WILL THIS, UM, GOOD NEWS ECONOMICALLY IN 21, GOOD NEWS ECONOMICALLY IN 22 CONTINUE.
WE HAVEN'T BURST AHEAD BEYOND 22, BUT WE'VE MAINTAINED AND, AND SO I THINK THAT'S A REALLY GOOD MESSAGE TO KNOW, UM, THAT THE TOWN CONTINUES TO DO WELL.
UM, WE TRIED TO ADD A LITTLE BIT IN HERE.
HERE'S 2022, UM, HOW DID WE DO LAST YEAR? AND, AND IT GIVES A LITTLE BIT, BUT LIKE, UM, COUNCILMAN AMES TALKED ABOUT IS THAT A LOT OF THIS, UM, INCREASE WAS RELATED TO CAPITAL PROJECTS THAT ARE, UM, IN PROCESS AND THEY'RE PROVIDED FOR.
AND SO WE ARE PROVIDING FOR OUTSIDE OF OUR FIRE TRUCKS, EVERYTHING ELSE IS CASH BASIS.
AND, UM, AND, AND SO AS WE, UH, AS THE PROJECTS CONTINUE, THEN THE FUND BALANCE WAS THERE IN ORDER TO FINISH THE PROJECTS.
NOT OUR, ALL OUR COLLECTIONS ARE IN YET, BUT, UM, JUST WITH THE, THE MOMENT IN TIME THAT OUR NUMBERS WERE THERE, 10 MILLION UP COLLECTIVELY, IF WE ADD ANOTHER 12 OR 14 MILLION IN COLLECTIONS, THEN ALL OF A SUDDEN THEN THAT INCREASE IS ABOUT WHAT OUR CIP CARRY FORWARD IS TOO.
AND SO, UH, IT'S A GOOD MESSAGE.
UH, YOU LOOK AT GENERAL FUND, I DON'T THINK WE'LL BE FINISHED QUITE THAT GOOD.
UM, CUZ THERE'S SOME EXPENSES YET TO BE POSTED.
BUT, UM, STILL, UM, WE HAD A, WE WERE HAPPY ABOUT A 3 MILLION INCREASE LAST YEAR TO THE GENERAL FUND.
THE CHAIR ASKED ME TO PRESENT A COUPLE, UH, A LITTLE BIT DIFFERENT INFORMATION.
AND SO THIS IS IN RESPONSE TO A QUESTION, BUT I THOUGHT IT WAS A REALLY GOOD QUESTION IS LIKE, OKAY, WELL WHAT ARE WE TRYING TO ACCOMPLISH? AND, AND I THINK THAT IS A REALLY HELPFUL QUESTION.
AND SO YOU LOOK AT, UM, PRELIMINARY 2023.
AND SO IF YOU WERE TO LOOK AT PAGE, UM, 40 AND 41 ANNUAL FINANCIAL REPORT, UM, THEN YOU COULD, UM, SEE A FORMAT THAT SHOWS, UH, A COLUMN FOR EACH FUND.
AND THEN WHAT THIS WOULD BE IS JUST THE TOTAL OF THE RIGHT HAND COLUMN, THE TOTAL FUNDS, BUT GENERAL FUND WE NEED, WE NEED TO KEEP IT, IT'S THERE.
UM, WE HAVE POLICIES ABOUT HOW IT SHOULD BE,
[00:45:01]
UH, DEBT SERVICE.WE NEED THAT FOR OUR, UM, UH, THE CONSISTENCY OF OUR DEBT PAYMENTS.
UM, CERTAINLY WITHIN THE, UH, TIMING OF OUR, UM, WITHIN THE YEAR, THE TIMING OF OUR, UH, REVENUE RECEIPTS.
AND THEN ALSO JUST FOR, UH, ECONOMIC DOWNTURNS AS WELL.
IT GIVES, UH, UM, A ADDITIONAL PROTECTION FOR OUR BOND HOLDERS.
AND THEN OUR DISASTER FUND IS, UH, FOR OUR, UM, NAMED DISASTERS.
AND SO YOU TAKE THOSE KIND OF OFF THE TOP.
THE NEXT GROUP ARE ALL USED FOR C I P AND YOU CAN SEE THE BIGGEST ONE IS BEACH FEE AT 31 MILLION.
UM, OUR EXPECTATION IS THAT THE BEACH RENOURISHMENT, THE LAST NUMBER THAT I HEARD AS AN ESTIMATE WAS 35 MILLION.
UM, AND, AND SO WE'RE PREPARING FOR THAT.
WE DON'T HAVE QUITE ENOUGH TO PAY CASH FOR THAT, BUT, UM, IT'S NOT HERE YET EITHER.
UM, BUT THAT'S, UH, UPCOMING AND WE'LL CERTAINLY DO A DRAW DOWN FROM OUR 79 MILLION.
AND AS WE, UM, PROCEED WITH, UH, THE REST OF THE CIP, THAT MINERAL GROUP OF 79 MILLION IS GONNA SUBSTANTIALLY DECREASE.
AND THEN CAN YOU PAUSE THERE A MOMENT, MR, I'M GOING BACK TO, UM, MR. AMES, UH, QUESTION TO, TO MS. RAY, UM, WITH, UH, BERE NOURISHMENT ON THE HORIZON, UM, THE, THE DATES ASSOCIATED WITH THAT.
CAN YOU SHARE THAT AT ALL, MS. RAY? WE ARE CURRENTLY IN THE PERMITTING PHASE FOR THE NEXT BE REN NOURISHMENT PROJECT, AND IT IS ANTICIPATED TO BE FINISHED BY DECEMBER OF 2025.
THAT IS OUR AGREEMENT WITH FEMA IN TERMS OF REIMBURSEMENT FOR ANY OF THOSE, UM, STORM RELATED SAND PLACEMENT.
SO, UM, IT'LL BE A, UM, 2025 PROJECT.
OKAY, SO I GUESS I'M, WAIT THERE, I'LL ALSO GO BACK TO YOU, MR. TROY HERE,
UM, SO WITH THAT APPROXIMATE 40 MILLION DRAWDOWN FOR THE, THE BEACH PROJECT IN RELATION TO MR. AMES QUESTION EARLIER, AS FAR AS OUR CONTINUUM OF BURN, WHICH WAS SAYING IS SOMEWHERE AROUND 12 TO 15 MILLION, HOPEFULLY THERE'LL BE 20, UM, DOING ROUGH NUMBERS HERE, I'M, I'M ASSUMING THAT THERE'S GONNA BE, UH, A DEFICIENCY HERE AS FAR AS US CONTINUING TO KEEP UP WITH CAPITAL IMPROVEMENT PROJECTS BECAUSE OF THE BIG HIT THAT'S COMING BEFORE US WITH THE BEACH, RIGHT? AND, AND IT, IT SPEAKS, UM, REALLY, UM, TO WHAT'S ON THE HORIZON.
AND SO MS. TONER MENTIONED THAT EARLIER IS, IS, OKAY, THERE WAS A, A BOOK OF WORK, UM, THAT WAS TO BE CONSIDERED AT 233 MILLION.
UM, AND SO AS WE HAVE A 40 MILLION CIP FOR THIS YEAR AND THEN WANNA LOOK TOWARD THE NEXT FOUR TO FIVE YEARS, THEN, UM, YOU KNOW, COUNSEL CAN HAVE SOME SERIOUS CONSIDERATION OF, YOU KNOW, HOW MUCH WOULD COUNSEL LIKE TO ACCOMPLISH AND THEN START TO DO THE MATH.
YOU'RE EXACTLY RIGHT, MR. CHAIR, ABOUT HOW MUCH WE'RE ABLE TO DO AND, AND REALLY START PUTTING THE PENCIL TO THE PAPER ABOUT WHAT WE'RE ABLE TO DO AND THE TIMING OF THAT AND, AND HOW TO BEST, UM, SEQUENCE THESE PROJECTS.
UM, STATE A TAX, UM, THERE'S RULES FOR THAT AND, AND IT'S AN ODDITY BECAUSE MOST OF STATE A TAX IS ON A CALENDAR BASIS AND EVERYTHING ELSE IS ON FISCAL YEAR, AND WE CAN THANK OUR FRIENDS AT THE STATE FOR THAT.
BUT, UM,
IT, IT, THE TRANSACTION HAPPENED JULY 3RD, AND SO IT, IT'S GONNA SHOW UP IN OUR JULY, JULY NUMBERS.
AND SO OUR MOST RECENT PURCHASE WON'T BE IN THESE NUMBERS, BUT THEY WILL BE IN JULY NUMBERS, AND WE CAN CERTAINLY BE THANKFUL FOR, UM, THE GRANTS.
UM, WE ARE PURSUING EVERY SINGLE GRANT THAT WE CAN.
UM, FEDERAL GRANTS, IF YOU LOOK AT THE NEGATIVE, YOU SAY, WHY IS THAT A NEGATIVE? MANY TIMES WE HAVE TO SPEND IT FIRST AND GET REIMBURSED LATER, AND SO WE WOULD SHOW A NEGATIVE TEMPORARILY.
AND THEN OUR NEW ADDITION WE CAN CERTAINLY BE PROUD OF IS OUR, UH, ALLEG GEECHEE COMMUNITY DEVELOPMENT CORPORATION AT 5,000,003.
AND SO WE'RE HAPPY THIS CAN BE TO HAVE THAT ADDED TO OUR, UH, GROUP OF FUNDS.
UH, JUST A PIE CHART FOR OUR BUDGET.
UM, SO IN SUMMARY, REVENUES MOSTLY HOLD ON TO 2022, AND 2022 IS OUTSTANDING.
SO I'M, I'M HAPPY TO REPORT THAT TOWN OPERATIONS ARE WITHIN BUDGET CAPITAL PLAN.
YOU HEARD FROM JENNIFER RAY AND OUR TOWN THIS YEAR HAS REDUCED ITS
[00:50:01]
DEBT.UM, WE'RE TEMPORARILY ADDING FUND BALANCE AGAIN FOR, UM, THE AMOUNT OF C I P THAT'S CARRIED FORWARD AND WE WILL ADD, AND SO I, I CAN AFFIRMATIVELY SAY WE WILL ADD TO THE GENERAL FUND FUND BALANCE.
AND SO, UM, I, I'M COMFORTABLE TO SAY THAT EVEN THOUGH WE HAVE A NUMBER OF TRANSACTIONS OUTSTANDING, WE WILL ADD TO THE GENERAL FUND FUND BALANCE THIS YEAR.
SO, UM, WE'LL CONTINUE TO KEEP YOU INFORMED, UM, HOPEFULLY THAT, UM, WE'LL I'LL CONTINUE TO HAVE, UM, STRONG ECONOMIC NEWS FOR US TO, UM, TALK ABOUT.
AND THAT CERTAINLY OPENS THE DOOR TO, UM, ENABLING TOWN COUNCIL TO INVEST IN THE ISLAND TO CONTINUE TO INVEST IN THE ISLAND.
AND SO I I HOPEFULLY THAT CONTINUES TO VOTE TOWN COUNSEL IN A GOOD PLACE.
UM, QUESTIONS OR COMMENTS FOR MR. TROYA? MR. STANFORD, PLEASE? YES.
UM, I'M VERY INTERESTED IN BUSINESS LICENSES, UH, PARTICULARLY FROM THE POINT OF VIEW OF WE HEAR THAT BUSINESSES ARE MOVING TO BLUFFTON, UM, AND SO IT WOULD BE INTERESTED TO SEE WHAT THE BUSINESS LICENSE REVENUE HAS BEEN ON A TREND LINE, WHICH WAY IT'S GOING.
UM, MY OBSERVATION IS THAT YES, WE'RE LOSING SOME BUSINESSES, WE'RE GETTING NEW BUSINESSES OPENING ALL THE TIME, AND SO I DON'T KNOW WHICH WAY THAT'S ACTUALLY GOING.
AND SO SOME SORT OF REPORTING ON THAT WOULD BE USEFUL.
UM, THERE HAVE BEEN, UH, A FEW THAT HAVE GONE TO THE MAINLAND, UM, BUT THEY'VE BEEN REPLACED, UM, MOSTLY REPLACED AND SO WE'LL, WE'LL GIVE YOU SOME STATISTICS ON THAT.
UH, NUMBER OF LICENSES, NUMBER OF NEW NUMBER OF CANCELED, AND, UM, I, I THINK IT'LL BE PRETTY INTERESTING.
ONE THING TO NOTE, OUR BUSINESS LICENSE REVENUE REALLY IS LOOKING, UH, BACKWARD.
AND SO THEIR BUSINESS LICENSE, UH, FEE IS BASED ON THE REVENUE FOR THE PAST 12 MONTHS.
AND, AND SO, UH, IT'S LESS FORWARD LOOKING THAN SAY, H TAX AND AT TAX, WHICH ARE, ARE MUCH MORE, UM, CONTEMPORANEOUSLY WITH OUR, UH, LOCAL ECONOMY.
I THINK THAT, UH, THE WAY TO LOOK AT IT IS TWO WAYS.
ONE IS THE NUMBER OF LICENSES THAT ARE BEING ISSUED, UM, OR NOT BEING RENEWED.
THEN THE DOLLAR REVENUE OF THE, THAT'S COMING IN FOR THOSE BUSINESS LICENSES.
YEAH, THAT'LL TELL US WHERE IT'S REALLY GOING AND THAT WILL BE USEFUL INFORMATION FOR US.
YEAH, AND, AND I THINK JUST WITHOUT LOOKING AT THE NUMBERS IN FRONT OF ME, UH, IT'LL BE A STRONG REPORT, BUT, UH, UH, ALFRED, ANYTHING, DID I UNDERSTAND YOU CORRECTLY TO INDICATE HERE THAT THE ATEX REVENUES ARE DOWN, BUT YOU WOULD EXPECT THEM TO HAVE A, A BIG BOOST BEFORE THE ACTUAL END OF FISCAL YEAR? YES.
UM, YEAH, THERE'S A, A LARGE PAYMENT THAT WE TRADITIONALLY RECEIVE IN JULY.
UM, I THINK THE NUMBER HAS BEEN 4 MILLION.
UM, AND, AND SO THAT'S GOING TO SHOW UP, BUT IT HASN'T SHOWN UP YET.
OKAY, MR. CHARLIE, BEFORE YOU GO, UH, I JUST WANT TO SORT OF, UH, TEE UP MOVING FORWARD.
YOU, YOU'VE MENTIONED THAT, UM, YOU ARE, UH, RELUCTANT, BUT YOU ARE, YOU HAVE SAID OUT LOUD THAT THERE'S A POTENTIAL THAT THERE WILL BE, UM, MONIES AVAILABLE TO, UH, PUSH INTO THE GENERAL FUND BECAUSE OF OUR COLLECTIONS, UM, AT, AT YEAR END, AND WE'LL BE, YOU KNOW, MORE THAN ANXIOUS TO, TO, TO HAVE THAT CONVERSATION.
UM, BUT I DON'T WANT THIS COMMITTEE TO HAVE THAT CONVERSATION SOLELY BECAUSE WE NEED TO BE THINKING ABOUT THE WHOLE PICTURE AS WE ARE HAVING THAT CONVERSATION.
AS WE JUST MENTIONED, THERE ARE A LOT OF EXPENDITURES THAT ARE GONNA BE BEFORE US NEEDED EXPENDITURES, YOU KNOW, NOT JUST SOMETHING THAT WE'RE PULLING OUT OF THE HAT, NOT OF THE AIR HERE.
SO, UM, AS YOU BRING IT BACK, UM, JUST BE MINDFUL OF THE PRESENTATION, EXPLAINING WHAT WE'RE LOOKING AT FOR THE NEXT YEAR AND A HALF, TWO YEARS AS FAR AS EXPENDITURES, PARTICULARLY IN THE CAPITAL IMPROVEMENTS AREA.
WE'VE BEEN, UM, VERY FORTUNATE TO, UM, SORT OF INCREASE THAT BURN AND THERE'S BEEN A LOT OF MOMENTUM IN THE COMMUNITY WITH ALL OF THE PLANS THAT ARE COMING ON BOARD.
UM, SO I THINK THE EXPECTATION FROM THE COMMUNITY IS TO, TO SEE THINGS BECOME BRIGHT AND SHINY, BUT THAT COMES AT A COST AND WE NEED TO HAVE THAT CONVERSATION, UH, COLLECTIVELY, UM, WITH, WITH OUR DECISIONS HERE IN THE FUTURE.
WE WELCOME ANY COMMENTS FROM THE PUBLIC ON THE PRESENTATION? MS. PRINCE, PLEASE.
UM, THANK YOU MR. TROYER FOR YOUR, YOUR PRESENTATION.
MY COMMENTS TODAY ARE INFORMED BY MY YEARS AS A FORTUNE 500 CORPORATE FINANCIAL ANALYST, UH, WHERE I'VE WORKED ON BUSINESSES THAT ARE 10 MILLION TO, YOU KNOW, 2 BILLION.
[00:55:02]
UM, WHILE I'VE COMPLETE CONFIDENCE THAT THE TOWN'S FINANCIAL RECORDS ARE ACCURATE, THE FINANCIAL ANALYSIS PIECE OF IT SEEMS LACKING TO ME.I'M PARTICULARLY CONCERNED THAT THIS BUDGET REVIEW COMPARED OUR ACTUAL RESULTS OF THIS FISCAL YEAR VERSUS PRIOR FISCAL YEARS, AND NOT TO THE BUDGET THAT YOU GUYS ADOPTED SO THAT WE KNOW WHERE WE ARE VERSUS WHAT WHAT YOU ALL PLANNED.
UM, I THINK WE NEED TO LOOK AT FISCAL YEAR 23 VERSUS THE BUDGET IN A REALLY SIMPLE FORMAT.
JUST GIMME A TOP LINE, TOTAL REVENUE, TOTAL EXPENSES, AND WHAT THE SURPLUS IS GOING TO BE.
AND THEN I FURTHER THINK THAT, UM, INSTEAD OF ASSUMING THAT THAT SURPLUS GOES DIRECTLY TO THE GENERAL FUND, THE PUBLIC, AND MORE IMPORTANTLY, TOWN COUNCIL DESERVES THE OPPORTUNITY TO DECIDE HOW THAT MONEY IS APPLIED, WHETHER IT GOES TO A GENERAL FUND FOR RESERVES FOR A SPECIFIC PURPOSE, AND AT WHAT POINT DO WE NEED TO SAY WE'VE CAPPED OUR GENERAL FUND A FUTURE YEAR TAX REDUCTION, PERHAPS INVESTING IT AS MR. CHAIRMAN SUGGESTED TO ACCELERATE CURRENT PROJECTS.
I KNOW THAT THERE'S A BUNCH OF STORMWATER PROJECTS THAT ARE BACKLOGGED OR FINALLY WHETHER TO BANK IT.
SO I THINK THAT THERE ARE OPPORTUNITIES HERE THAT LEND THEMSELVES TO FURTHER ANALYSIS AND CONS AND EXCUSE ME AND CONSIDERATION.
UM, ONE VERY CLEAR PIECE OF IT WAS OUR INVESTMENT INCOME WE'RE UP 5 MILLION THIS YEAR.
I DON'T THINK ANY OF US WOULD'VE FORECASTED THAT THE FEDERAL RESERVE POLICY WOULD'VE HAD THE IMPACT THAT IT HAD.
THANK GOODNESS THAT WE'VE BEEN ABLE TO BENEFIT FROM IT.
BUT I THINK THAT YOU ALL, AND WE THE PUBLIC DESERVE ADDITIONAL CONSIDERATION WITHOUT IMPLICITLY ASSUMING THAT EVERYTHING NEEDS TO GO TO THE GENERAL FUND.
CAN I RAISE A QUESTION HERE? UM, I THINK IT WOULD BE BENEFICIAL FOR ME AND MAYBE FOR THE COMMITTEE, BOTH OF YOU LADIES WHO SUBMITTED COMMENTS WOULD PUT THEM IN WRITING AND DELIVER 'EM TO AND POSSIBLE CERTAINLY I'D BE HAPPY.
YOU WANT TO APPROACH? PLEASE DO.
WELL, SURPRISINGLY ENOUGH, MY COMMENTS ARE VERY SIMILAR TO YOURS.
UM, I KNOW IT'S NOT EASY PUTTING TOGETHER A PRESENTATION TO COMMUNICATE FINANCIAL RESULTS.
IT REQUIRES TAKING A LOT OF INFORMATION AND ORGANIZING IT IN A WAY TO TELL A STORY.
UH, I UNDERSTAND THAT AS I HAVE OVER 30 YEARS OF EXPERIENCE WITH THE ALLSTATE INSURANCE CORPORATION, UH, IN THE FINANCE AREA.
I WAS A CONTROLLER OF A BUSINESS UNIT OF 800 MILLION AND AN APPOINTED OFFICER WITH CONTROL OF 2.2 BILLION, UM, IN EXPENSES AND REVENUES.
SO I UNDERSTAND, UM, HOW TO PUT A PRESENTATION TOGETHER AND I KNOW HOW MUCH WORK IT TAKES.
UM, IN MY OPINION, YOUR DUE DILIGENCE IS THERE, BUT I THINK THERE ARE IMPROVEMENTS THAT YOU CAN MAKE TO COMMUNICATE THE RESULTS AND YOUR PRESENTATION FORM TO TOWN COUNCIL AND TO THE PUBLIC.
AND I'LL JUST GIVE YOU A FEW OVERARCHING POINTS.
UM, THE PRESENTATION FOCUSES MAINLY ON COMPARISONS TO PRIOR YEAR, AND YOUR COMMENT WAS, YOUR PROFESSION IS BACKWARDS LOOKING.
UM, MY PROFESSION WAS TO COMPARE TO BUDGET AND TO BE FORWARD THINKING.
UM, THERE ISN'T A CONSISTENCY OF THE INFORMATION THAT IS INCLUDED OR HOW IT IS DISPLAYED.
THE C I P PLAN IS SHOWN IN THE PRESENTATION, BUT IT DOES NOT INCLUDE WHAT HAS BEEN SPENT OR AN ESTIMATE OF YOUR END.
AND I CAN APPRECIATE YOUR PAIN AND SHOWING A PRELIMINARY RESULT WHERE YOU HAVEN'T ACCOUNTED FOR ALL OF THE INFORMATION DUE TO ACCRUALS AND, UM, PAYMENTS THAT YOU RECEIVED LATE.
THE PRESENTATION IS BIG WITH 45 PAGES, AND I THINK THERE'S AN OPPORTUNITY TO CONSOLIDATE.
NOW, ON OTHER HAND, I THINK THIS MEMO THAT YOU PUT TOGETHER ON A MONTHLY BASIS DOES A GREAT JOB OF EXPLAINING WHAT IS HAPPENING.
UH, ONE OF THE REASONS IS IT COMPARES THE RESULTS TO THE BUDGET, WHICH IN MY OPINION IS THE MOST IMPORTANT INFORMATION FOR MANAGING THE FINANCIAL RESULTS.
COMPARISONS TO PRIOR YEAR, PROVIDE CONTEXT AND ARE INTERESTING, BUT THE COMPARISON TO YOUR BUDGET IS THE REAL MEASURE OF YOUR SUCCESS OR YOUR GAPS.
SO IN MY OPINION, THE INFORMATION IS THERE, IT'S IN YOUR REPORTS, IT'S IN YOUR MEMO.
SOME CHANGES TO YOUR PRESENTATION COULD MAKE IT EASIER FOR THE AUDIENCE TO UNDERSTAND WHERE WE REALLY ARE COMPARED TO OUR BUDGET.
SO THANK YOU FOR THE OPPORTUNITY TO PROVIDE MY COMMENTS.
ANYONE ELSE? NAN, WE WILL MOVE FORWARD
[6.b. Consideration of an Ordinance Authorizing and Directing the Town of Hilton Head Island to Enter into an Intergovernmental Agreement Relating to South Carolina Local Revenue Services; to Participate in one or more Local Revenue Service Programs; to Execute and Deliver one or more Participant Program Supplements; and Other Matters Relating Thereto – John Troyer, Director of Finance]
TO OUR NEXT ITEM OF[01:00:01]
BUSINESS, UH, CONSIDERATION OF AN ORDINANCE AUTHORIZING AND DIRECTING THE TOWN OF HILTON AND ISLAND TO ENTER INTO AN INTERGOVERNMENTAL AGREEMENT RELATING TO SOUTH CAROLINA LOCAL REVENUE SERVICES TO PARTICIPATE IN ONE OR MORE LOCAL REVENUE SERVICES PROGRAM TO EXECUTE AND DELIVER ONE OF MORE PARTICIPANT PROGRAM SUPPLEMENTS.OTHER MATTERS RELATING THERE TOO.
THAT WAS A MOUTHFULS OF WELCOME.
YES, MR. TROY, BUT WELCOME APRIL.
I'M THE REVENUE SERVICES MANAGER HERE AT THE TOWN.
I OVERSEE THE ADMINISTRATION OF BUSINESS LICENSE TAXES LOCALLY.
I ALSO, UH, PARTNER WITH M A S C TO HELP OUR STATEWIDE COLLECTIONS, A CERTAIN BUSINESS LICENSE TAXES THAT WE WERE JUST TALKING ABOUT IN THE BUDGET.
UM, AND M A S C HAS RECENTLY UPDATED THEIR, UH, COLLECTION PROGRAM.
AND SO I'M HERE TO LET YOU KNOW WHAT THOSE CHANGES ARE AND HOW THAT IMPACTS THE TOWN.
AS YOU KNOW, WE PARTICIPATE IN THE MUNICIPAL ASSOCIATION'S, UH, COLLECTION PROGRAMS FOR MANY YEARS NOW, UM, TO COLLECT CERTAIN BUSINESS LICENSE TAXES, AND THAT DOES INCLUDE OUR INSURANCE TAX COLLECTION PROGRAMS, THE BROKER TAX COLLECTION PROGRAM, TELECOMMUNICATIONS TAX COLLECTION PROGRAM.
UM, JUST TO GIVE YOU AN IDEA, AS YOU JUST SAW, WE'VE COLLECTED NEARLY 4 MILLION THIS YEAR, UM, THROUGH THESE COLLECTION PROGRAMS THROUGH THE STATE.
RECENTLY, M A C COLLECTIVELY REBRANDED THESE PROGRAMS AND THEY NOW CALL IT LOCAL REVENUE SERVICES.
AND THEY ALSO RENAMED THE THREE BUSINESS LICENSE PROGRAMS TO INSURANCE TAX PROGRAM OR I T P BROKER'S TAX PROGRAM OR B T P AND THE TELECOMMUNICATIONS TAX PROGRAM OR TT P.
UH, FOLLOWING THE ADOPTION OF ACT 1 76 OF 2020, WHICH STANDARDIZED BUSINESS LICENSE ADMINISTRATION ACROSS SOUTH CAROLINA, UH, THE TOWN WAS REQUIRED TO ADOPT THE NEW BUSINESS LICENSE MODEL ORDINANCE.
IN ADDITION, UH, THE REBRANDING OF THE ASSOCIATION'S COLLECTION PROGRAMS AND THE ADOPTION OF THE ORDINANCE, OUR LOCAL MODEL ORDINANCE IN 2021 REQUIRES THE TOWN TO UPDATE THE COLLECTION PROGRAM ORDINANCES AND AGREEMENT AND AGREEMENTS BY WHICH THE TOWN MAY PARTICIPATE IN THE LOCAL REVENUE SERVICES COLLECTION PROGRAMS. THE UPDATED ORDINANCE AGREEMENT AND SUPPLEMENTS WILL NOT CHANGE THE OPERATION OF HOW THE LOCAL REVENUE SERVICES COLLECTION PROGRAMS, UH, WILL BE ADMINISTERED.
AND I DID PROVIDE THOSE, UM, COPIES IN YOUR AGENDA PACKET SO YOU COULD REVIEW THEM.
UM, M A C HAS BEEN VERY SPECIFIC THAT WE DO NOT DEVIATE FROM THE LANGUAGE THAT'S IN THE AGREEMENT AND THE ORDINANCE, SO I JUST WANTED TO PROVIDE THAT INFORMATION TO SO YOU HAVE THAT.
UM, M C WILL CONTINUE TO ADMINISTER OUR COLLECT AND COLLECT OUR BUSINESS LICENSE TAXES, UH, THROUGH THEIR COLLECTION PROGRAMS THAT THEY'VE BEEN DOING.
THE RATES WITH MAAC SERVICES WILL REMAIN THE SAME, AND THE DISTRIBUTIONS OF THE COLLECTED AMOUNTS WILL BE MADE IN THE MANNER THAT THEY ARE CURRENTLY.
THERE ARE A FEW CHANGES IN THE ORDINANCE AND THE AGREEMENTS WITH THE COLLECTION PROGRAMS. THE NEW AGREEMENT IS NOW AN INTERGOVERNMENT AGREEMENT AMONG ALL OF THE PARTICIPATING GOVERNMENTS.
UM, RATHER THAN A SERIES OF STANDALONE AGREEMENTS ACROSS THE MEN ACROSS THE STATE, UH, LOCAL REVENUE SERVICES WILL ACT IN ITS OWN NAME, UH, AS A DIVISION OF MUNICIPAL ASSOCIATION'S BOARD OF DIRECTORS.
THE TERMS ON WHICH THE M A S C ASSOCIATION HAS DELEGATED THE AUTHORITY TO RESOLVE LITIGATION ON BEHALF OF ITS MEMBERS HAS NOW BEEN CLARIFIED AND ADDED INTO THE ORDINANCE, AS WELL AS AN APPEAL PROCESS WHICH WAS REQUIRED BY AND CONSISTENT WITH ACT 1 76 HAS NOW BEEN FORMALLY ADOPTED WITHIN THE ORDINANCE.
SO STAFF IS RECOMMENDING AND ASKING THAT YOU, UH, CONSIDER THE PROPOSED ORDINANCE AND AGREEMENTS BY WHICH THE TOWN MAY PARTICIPATE IN THESE COLLECTION PROGRAMS, UH, AND FORWARD THE RECOMMENDATION TO TOWN COUNCIL FOR APPROVAL.
UM, BY DOING SO, THE FIRST READING OF THE ORDINANCE WOULD OCCUR IN AUGUST OF 2023, AND THEN THE SECOND AND FINAL READING WOULD OCCUR IN SEPTEMBER.
SO IF YOU HAVE ANY QUESTIONS, I'M HAPPY TO ANSWER THEM, BUT THAT DOES CONCLUDE MY UPDATE QUESTIONS FOR MS. AKINS? ANY ASPECT OF THIS MAKE YOUR JOB MORE DIFFICULT? OH, NO, THIS MAKES MY JOB VERY EASY.
SOUNDS LIKE IT, IT SOUNDS LIKE IT.
IF I HAD TO COLLECT THE ADDITIONAL 4 MILLION FROM ALL OF THE INSURANCE AND THE BROKERS AT ED, RIGHT, THIS MAKES MY LIFE MUCH EASIER.
[01:05:01]
UM, I'M JUST CURIOUS TO KNOW IN THE PROCESS, UH, DOES A S C HAVE A MECHANISM WHERE THEY ARE INCLUDING THE MUNICIPALITIES, THE CHANGES ON THE FRONT END? UH, YES.SO WHEN THEY WERE WORKING THROUGH THE PROCESS, YOU MEAN FOR WRITING THE ORDINANCE? YES, THEY DID REACH OUT TO US AND TOLD US THAT THEY WERE GOING TO HAVE TO CHANGE, UH, THE WAY THE ORDINANCE WAS WRITTEN.
UM, A LOT OF THIS, UH, MUNICIPALITIES AND COUNTIES ACROSS THE STATE HAVE THESE AGREEMENTS AND THEY'RE IN DIFFERENT PLACES THROUGHOUT THEIR ORDINANCES.
OURS ARE ACTUALLY INCLUDED WITHIN THE BUSINESS LICENSE TAX CODE.
UM, BUT THAT WASN'T THE CASE ACROSS THE STATE.
SO WHEN THEY REPEALED AND AMENDED THEIR BUSINESS LICENSE, SOME OF THEM ACCIDENTALLY GOT RID OF THE PROGRAM.
UM, SO THEY WANTED TO MAKE SURE EVERYONE ACROSS THE STATES ON THE SAME PAGE.
YES, THEY DID REACH OUT TO US.
WHAT IS THE ADMINISTRATIVE FEE CHARGES? THEY CHARGE US 4% OFF OF THE GROSS PROCEEDS THAT THEY ARE COLLECTING.
UH, ANY PUBLIC COMMENT ON THIS ITEM AND WE'LL BRING IT BACK TO THE DIOCESE.
WE APPROVE, UH, THE RECOMMENDATION OF STAFF CONSIDERATION OF THE ORDINANCES AUTHORIZING AND DIRECTING THE TOWN OF HILTON HEAD AND SO ON AND SO FORTH.
ALL IN FAVOR? OPPOSED? THANK YOU.
WE FOUND OURSELVES AT SOME OF US THE FAVORITE PART OF THE MEETING.