Town Council hears Oak Island’s proposed budget for next fiscal year
OAK ISLAND, NC (WWAY) — The Town of Oak Island has released its proposed budget for the next fiscal year, which begins in July.
The Town says it is a balanced budget with no increase in the tax rate and no increases in any user fees for the Enterprise Funds.
The budgeted tax rate remains at $0.16/$100 valuation. Of the $0.16 tax rate, $0.13 is designated for the Town’s General Operations. The remaining $0.03 is accounted for in the Beach
Nourishment Fund established for beach nourishment projects.
The town says its Fund Balance continues to remain strong. The Town’s General Fund Balance is in compliance with NCGS 159-8 and well over the Town’s internal policy to maintain a minimum total fund balance of 40%.
The outstanding utility debt continues to decrease annually with payoff in FY 2035-2036. All debt principal and interest payments are fully funded for FY2024-2025 as required by
state law. The only other debt for the Town is for 2 fire trucks previously purchased and a commitment was made on a future ladder truck for FY2026-2027.
For town employees, the recommended budget includes a Cost of Living increase of 3.2% and the potential for a merit increase of up to 3%. It recommends funding 9 new positions: 3 new full-time firefighters, 2 code enforcement officers, a GIS Technician, a Capital Projects/Grant Project coordinator, a front office receptionist, and a communications/clerk assistant.
A PowerPoint presentation by the town notes its “Top 3 Focus Areas of Improvement”:
1) Increase Customer Service for Our Citizens
• Front desk receptionist at Town Hall for citizens engagement
• Communication/Clerk Assistant for enhanced production of information for all Town activities
• New Capital Project/Grant Coordinator position to better monitor and provide information on projects and grants
2) Ensure Compliance with Codes, Ordinances, Rules
• Consolidation of Stormwater, Building, Planning, and Drone services under one department of Development Services
• Two new Code Enforcement/Zoning Technicians and a GIS position
3) Improve Public Safety
• Three additional firefighters
• An additional Beach/Ocean Rescue Team and part time Battalion Chief and the
necessary capital outlay to support enhanced rescues
• Increased funding for Public Safety Community Programs and Kids Camps
You can read more details here.
