FY24 Proposed Budget in Brief

– TOWN OF COLONIAL BEACH –

BUDGET IN BRIEF – FISCAL YEAR (FY) 2024 –

Our FY 2024 budget was developed in alignment with our strategic and comprehensive plan goals.

MISSION To provide services and build a better community.

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

VALUES • • • • • • •

Integrity Inclusivity Balance Professionalism Consistency Respect Trust

• Open & Responsive Communications • Financial Responsibility • Open & Responsive Communications • Sustainability • Resiliency

STRATEGIC ACTION PLAN GOAL AREAS • Economic Development • Government Performance • Livability & Placemaking

• Infrastructure • Public Safety

WHAT IS THE VALUE OF A PENNY? One penny rate change = the difference of $69,854.38 in the Town’s general fund budget

CURRENT REAL ESTATE TAX RATE • Town - $0.78 per $100 assessed • County (Town Resident's Rate) $0.40 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 2024

BUDGET IN BRIEF

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– FY 2024 –

THE TOWN’S GENERAL FUND KEY TAKEAWAYS • The Proposed Budget includes a .78 cent flat tax rate based on budget guidance provided by the Town Council at the Annual Strategic Planning Retreat • As a statutory requirement, the Town Council must adopt a final budget for FY24 and adopt tax rates for Tax Year 2023 • 3% Cost of Living Adjustment (COLA) for town employees • $15/hour minimum wage will be implemented for town employees as part of our recruitment & retention strategy • Healthcare Plan Adjustment plan options will be revised to save an estimated $100,000 during this fiscal year Employee + Spouse Avg savings from $250/month

ONE TIME FUNDING FOR KEY STRATEGIC ACTION PLAN INITATIVES

Family Plan Avg savings from $500/month

Community Survey $15K

Compensation Study $15K

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

FY 24 GENERAL FUND REVENUES Where does the money come from?

Real Estate Tax – 51.65%

Parking – 4.04%

Personal Property Taxes – 7.51%

Local Sales Tax – 4.51%

Business License – 1.4%

Meals & Lodging Tax – 6.93%

Comm. Sales Tax – 1.53%

GENERAL FUND REVENUES BY CATEGORY

$9.3M

Trash Collection Fees – 3.09%

Intergov’t Revenues – 13.03%

Other Revenues – 6.31%

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 2024

BUDGET IN BRIEF

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– FY 2024 –

FY 24 GENERAL FUND EXPENDITURES How is the money spent?

All Others (incl. Fleet, Risk Management, Senior Discounts, Transit Ops, Litter Control) – $190,575 / 2.05%

General Services & IT – $251,627 / 2.7%

School – $2,560,258 / 27.48%

Finance & Audit Services $316,687 / 3.4%

Other Depts (incl. Parks & Rec, Comm. Development & Econ.

Development) – $531,858 / 5.71%

GENERAL FUND EXPENDITURES BY DEPARTMENT

Public Works - $1,854,690 / 19.9% Police – $1,457,921 / 15.65%

HR Manager – $156,769 / 1.68% Legal Services $172,000 / 1.85%

$9.3M

Town Manager $389,739 / 4.18%

Non-Dept (incl. NGOs, EMS, Debt Service) - $1,329,045 / 14.26%

Town Clerk $106,706 / 1.15%

FY 24 UTILITY FUNDS How is the money spent?

Debt Service $418,623

New Water Connection Fees - $85,500 Reconnection Fees - $20,330

WATER FUND REVENUES

WATER FUND EXPENDITURES

Water Charges $1,214,674

$1.32M

$1.32M

Water Dept. Operating Expenditures - $901,881

Water Fund Key Takeaways • • • •

Sewer Charges $2,228,217

Wastewater Treatment Plant - $1528,774

WWPUP County Payments - $6,318 Wastewater Processing Fee $157,925 Septage Receiving - $66,063 Sewer Connection Fees $120,000

Chemical Increases Medical/Lab supplies Replacement Equipment Professional Services Contracts

Sewer Department $650,687

SEWER FUND REVENUES

SEWER FUND EXPENDITURES

Debt Service $399,062

$2.57M

$2.57M

Sewer Fund Key Takeaways • • • •

Asphalt/Concrete Increases Supplies Rental Equipment Repairs & Maintenance

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 2024

BUDGET IN BRIEF

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– FY 2024 –

HOW IS $100 SPENT? Colonial Beach Public Schools 27.48% Public Works 19.0% Police 15.65% Non-Dept EMS, Debt Service, NGOs 14.26%

Other Departments (Parks & Rec, Community Development) 5.71%

Finance & Audit 3.4%

Town Manager 4.18% Town Clerk 1.15% Human Resources 1.68% Attorney 1.85%

Other Programs (Transit Ops, Litter Control, Senior Discounts) 2% General Services & IT 2.7%

2024 BUDGET IMPACTS

STATE IMPACTS

PUBLIC SAFETY

ADDITIONAL INCREASES

State Budget Uncertainty

E-911- County

Attorney’s Fees

•

General Assembly budget delays; General Assembly anticipates a budget decision by June 2023

Upcoming State Mandates •

Rate adjustments for minimum wage requirements

•

$18,000 increased from previous fiscal year for dispatch services

Police Dept. Rent Increase •

$9,000 increase from FY23

Fire Dept Increase •

$5,000 increase from FY23

•

$66,000 increase for contracted attorney

Building Maintenance •

Additional funding for deferred maintenance on town-owned facilities

•

Gas, petroleum, construction materials cost increase, significantly impacting Police and Public Works due to fuel needed for fleet and Public Works goods and materials

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 2024

BUDGET IN BRIEF

5

– FY 2024 – 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

3,512

2010

2011

2012

2013

2014

3,564

3,584

3,621

3,645

3,538

3,551

2015

2016

2017

2018

2019

2020

3,200

PUBLIC SCHOOLS

2021

CAPITAL IMPROVEMENTS •

CBPS Funding- State Required Local Match-$2,560,258 (ADM-562) included in Town’s proposed budget

•

•

Central Drainage Area Project – $2.5M (ARPA) 1st Street Water line Replacement $70,000

FY 24 HIGHLIGHTED ACCOMPLISHMENTS

3% cost of living adjustment for town employees

$100,000 in estimated health plan savings

$32,000 increase budget for public safety

$15/hour minimum wage implementation

$30,000 one-time funding for key strategic action plan initiatives

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