The VillageVIBE

VillageofBaldHeadIslandEmployeeNewsletter HAPPYNEWYEAR!! (Fiscal)

SecondQuarter2023

TheVillageCounciladoptedtheFY24(fiscalyear24)budgetonJune16,2023.

What'safiscalyear,youmayask?Fiscalrelatestomoneythatagovernmentearns, spends,andowes.TheVillage,asamunicipalgovernment,hasafiscalyearthat beginsonJuly1andendsonJune30ofeachyear. Thebudgetshowswhatthe VillageexpectstospendandearnfromJuly1toJune30.PerNClaw,thebudget mustbebalanced,meaningitmustshowthesameamountofrevenuescomingin thatitshowsexpendituresgoingout.

This year's fiscal budget included:

Increased personnel costs with the recently approved MAPS pay and classification study (use QR code or click HERE to review the adopted pay and class schedule),

A (K) match of up to 4% in lieu of the Social Security benefit that did not pass this year (more on Page 2),

A Cost-of-Living Adjustment (COLA) of 5 percent, and a merit increase of up to 3% for high performers.

FLOATING HOLIDAY!

FLOATING HOLIDAY!

Don’t forget that last year, the Village Council approved a floating holiday. With the year halfway over, please make sure that if you have not taken that day off that you schedule a day off with your supervisor.

You must use this day before the end of the calendar year. If you do not use this time off by December 31, 2023, you will lose it!