February 25-26 FY City Council Budget Retreat Meeting and Executive Session

The North Myrtle Beach City Council will meet February 25-26 at Santee Cooper's Wampee Plantation Conference Center in Pinopolis, SC to discuss the City's proposed FY 2020 Budget. The meeting includes an executive session. The meeting is open to the public.

Access the formal meeting and executive session agenda at http://tinyurl.com/yxg3h47z or visit www.nmb.us and look under "Agendas" or "Press Releases."

City Council will formally open its two-day budget retreat meeting on February 25 at 8:00 a.m. at City Hall and will then immediately travel to Pinopolis, SC to continue the meeting and discuss the City’s proposed budget. The meeting will end after City Council has completed its budget discussions on February 26.

The City’s fiscal year is July 1-June 30. First reading of the proposed fiscal year budget ordinance usually occurs in May.


Monday, February 25, 2018
8:00am……......Depart for Pinopolis, SC
10:45-11:45......Budget Overview & General Fund
1:15-2:30..........Other Funds
3:00-3:30……...Executive Session – Legal Briefing (access formal agenda for details)
3:30-4:30……...Public Works Projects
4:30-5:00……...Recreation Projects

Tuesday, February 26, 2018
9:00-11:30........Priority Setting/Review
12:00pm-1:00...Lunch and Return Home


-- The proposed budget involves 17 separate funds with significant interrelations and transfers between the various funds.

-- The proposed FY 2020 budget is $91.6 million, about $4.6 million less that the FY 2019 Budget.

-- The budget proposes a property tax reduction of about 7.3 mills, reducing the millage rate from its current 43.3 mills to 36 mills. The proposed millage reduction includes the 6.1 mills levied eight years ago to pay off the $15 million bond issue for the purchase of land for and construction of the North Myrtle Beach Park & Sports Complex. The bond is paid.

-- As proposed, General Obligation Debt would be $0 for FY 2020.

-- Under the proposed budget, the year-end balance for the General Fund would be about $12.5 million, which is above the 35% fund balance policy.

-- Equipment replacement would continue on a pay-as-you-go basis.

-- The City does not propose rate increases in its Water & Sewer Fund, except for any pass-through rate change from Grand Strand Water & Sewer Authority.

-- Discussion of significant water, sewer and road projects will occur at the budget retreat.

-- The budget proposes construction of the 18thAvenue North Ocean Outfall beginning in fall 2021. This would enable the City to accomplish the estimated $12 million project without borrowing funds. In the meantime, smaller storm water drainage projects are included in the proposed budget.

-- City Council will review about $3.9 million in proposed accommodations tax revenue expenditures. An Accommodations Tax Committee recommends to City Council expenditures of accommodations tax revenue. City Council may approve committee recommendations or redirect funding. 

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