Budget in Brief Fiscal Year 2023

– TOWN OF COLONIAL BEACH –

BUDGET IN BRIEF – FISCAL YEAR (FY) 2023 –

Our FY 2023 budget was developed in alignment with our strategic and comprehensive plan goals.

VISION Colonial Beach is an attractive historical beach town committed to family, business, the arts, and a healthy quality of life.

MISSION To provide services and build a better community.

VALUES • • • • • •

Integrity Inclusivity Balance Professionalism Consistency Respect

• • • • •

Sustainability Resiliency Trust Financial Responsibility Open & Responsive Communications

STRATEGIC ACTION PLAN GOAL AREAS • Infrastructure • Public Safety • Livability & Placemaking

• Economic Development • Government Performance

WHAT IS THE VALUE OF A PENNY?

One penny rate change = the difference of $60,854.38 in the Town’s general fund budget

CURRENT REAL ESTATE TAX RATE • Town - $0.80 per $100 assessed • County (Town Resident's Rate) - $0.47 per $100 assessed Town of Colonial Beach | 315 Douglas Avenue | Colonial Beach, Virginia 22443 | P: 804-224-7181 | F: 804-224-7185

– TOWN OF COLONIAL BEACH –

BUDGET IN BRIEF 2023

BUDGET IN BRIEF

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– FY 2023 –

THE TOWN’S GENERAL FUND is compromised of each operational department as well as debt service.

FY 23 GENERAL FUND REVENUES Where does the money come from?

Real Estate Tax – 57% $5,020,550

Parking – 2% $211,159

Personal Property Taxes - 7% $611,081

Intergov’t Revenues – 12% $1,095,292

Local Sales Tax– 4% $395,940 Business License– 2% $156,679

GENERAL FUND REVENUE BY CATEGORY

$8.88M

Comm. Sales Tax– 2% $172,760 Other Revenues– 8% $681,960

Meals Tax – 6% $535,379

FY 23 GENERAL FUND EXPENDITURES How is the money spent?

School – 30%

Finance & Audit – 4%

All Other (incl. Fleet, Risk Management, Senior Discounts, Transit Ops, Litter Control) – 2%

General Services & IT – 2%

Town Council/Clerk – 1% Town Manager – 3% Town Attorney – 1% Human Resources – 1%

GENERAL FUND REVENUE BY DEPT

$8.88M

Non-Dept (incl. NGOs, EMS, Debt Service) – 15% Police – 17% Public Works ≠ 18% Other Depts (incl. Parks & Rec, Comm. Development & Econ.

Development) – 6%

Town of Colonial Beach | 315 Douglas Avenue | Colonial Beach, Virginia 22443 | P: 804-224-7181 | F: 804-224-7185

– TOWN OF COLONIAL BEACH –

BUDGET IN BRIEF

BUDGET IN BRIEF 2023

– FY 2023 –

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HOW IS $100 SPENT? Colonial Beach Public Schools - 30%

Public Works -18%

Police - 17%

Non-Departmental EMS, Debt Service, NGOs - 15% Other Departments (Parks & Rec, Community Development) - 6% Finance & Audit - 4% Town Manager - 3% Other programs (Transit Operations, Litter Control, Senior Discounts) - 2% General Services & IT - 2% Town Council/Clerk - 1% | Human Resources- 1% Town Attorney - 1%

FY 23 HIGHLIGHTED ENHANCEMENTS

5% Cost of Living Adjustment to School Instructors (state mandate)

BUDGET IMPACT

2% Cost of Living Adjustment for Town Employees

Police Officers (2 FTEs), Parking Attendant (PT) Capital Projects Coordinator (1 FTE), and Economic Development Manager (PT)

STATE IMPACTS State Budget Uncertainty •

General Assembly has not proposed a final budget for Governor’s adoption •

Potential cuts to sales tax could negatively impact our revenues

State Mandates •

The increase to the Town’s Required Local Contribution to the Schools is estimated to exceed $500,000, as calculated by the Virginia Department of Education (“VDOE”)

Town of Colonial Beach | 315 Douglas Avenue | Colonial Beach, Virginia 22443 | P: 804-224-7181 | F: 804-224-7185

– TOWN OF COLONIAL BEACH–

BUDGET IN BRIEF 2023

BUDGET IN BRIEF

4

– FY 2023 – TOWN OF COLONIAL BEACH POPULATION 2010–2021 4,000 3,800

3,908

3,600 3,400

3,542

3,566

3,535

3,531

2010

2011

2012

2013

3,551

3,564

3,584

3,621

3,645

3,512

3,538

2014

2015

2016

2017

2018

2019

2020

3,200 2021

PUBLIC SCHOOLS COLONIAL BEACH PUBLIC SCHOOLS BUDGET FY22-FY23

$11,000,000

$9,940,955

$10,000,000 $9,000,000

$8,319,648

$8,000,000 $7,000,000 FY22

FY23

$2.6M Required Local Match to Colonial Beach Public Schools • Up $467,684 from current fiscal year 2022 Debt Service Payments – Colonial Beach Elementary School • Highest debt service payment upcoming in FY23 - $487,820 Schools – Changes in State Funding Requirements for FY23 • Category Compensation Supplement wasn’t funded in FY22, state mandated required local match in FY23 is $90,128 • New incentive program in FY23 – Re-benchmarking Hold Harmless state required local match is $57,815 • Infrastructure & Operations was totally state funded in FY22, now in FY23 state required local match is $79,153 • 5% state mandated increase to all instructors

Town of Colonial Beach | 315 Douglas Avenue | Colonial Beach, Virginia 22443 | P: 804-224-7181 | F: 804-224-7185

– TOWN OF COLONIAL BEACH–

BUDGET IN BRIEF – FY 2023 –

BUDGET IN BRIEF 2023

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LOCAL GOVERNMENT BUDGET IMPACTS Westmoreland County E-911 Dispatch Service Increase • $41,741 increase from previous fiscal year for dispatch services Healthcare Increase • 9% health insurance increase from previous fiscal year - $54,543 Gas, Petroleum, Construction Materials Increase • Significant budget impacts on Police and Public Works due to fuel needed for fleet and public works goods and materials • Ex: Biosolids Removal (sludge) increase- $42,500 increase from previous fiscal year; FY23 cost $82,500 from $40,000

2023 CAPITAL IMPROVEMENT PLAN (CIP) The FY 22-27 proposed CIP includes plans for support to our infrastructure to include several projects and some highlights included below. Our Capital Improvement fund is funded primarily through the sale of town property, grant funding and issued debt.

• Central Drainage Area$2.1M (Phase I)

• Northside Path Improvements (Lighting, Bollards, Paving)$200,000

• Park Playground Equipment- $100,000

Town of Colonial Beach | 315 Douglas Avenue | Colonial Beach, Virginia 22443 | P: 804-224-7181 | F: 804-224-7185