2011-2012 Budget Book - Town of Kiawah Island

TOWN OF KIAWAH ISLAND
FISCAL YEAR 2011-2012 BUDGET
LOCAL ACCOMMODATIONS TAX FUND
7 Months Annualized Proposed
ACCOUNTS 10/11 BUDGET 10/11 Actual 2010/2011 11/12 Budget
LOCAL ATAX REVENUE $ 450,000 $ 310,429 $ 450,000 $ 470,000
INTEREST REVENUE $ 53,084 $ 13,831 $ 53,084 $ 35,800
TOTAL REVENUES $ 503,084 $ 324,260 $ 503,084 $ 505,800
BEACH CONSULTING & REPAIRS $ 40,000 $ - $ 25,000 $ 15,000
BEACH STUDIES & MONITORING $ 50,000 $ 18,648 $ 31,968 $ 40,000
BEACH/GROUNDS UPKEEP $ 50,000 $ 22,373 $ 38,355 $ 45,000 Contract with Carolina Waste
AERIAL PHOTOGRAPHY $ 30,000 $ 290 $ 30,000 $ 15,000
Required East Beach Photography
originally budgeted in Beach
Consulting
REPAIRS/MAINT-ROADS* $ 100,000 $ 67,803 $ 85,000 $ 30,000
DUMPSTER AREA MAINTENANCE $ 10,000 $ - $ - $ 15,000
CAPITAL IMPROVEMENTS - ADA $ 100,000
Beach Patrol $ 218,360 $ 86,019 $ 218,360 $ 218,360 Contract with Island Services
TOTAL EXPENDITURES $ 498,360 $ 195,133 $ 428,683 $ 478,360
NET INCREASE BEFORE TRANSFERS / CONTIGENCY $ 4,724 $ 129,127 $ 74,401 $ 27,440
RESERVED FOR CONTINGENCY $ 40,000 $ 7,700 $ 7,000 $ 25,000
TRANSFER TO CONSTRUCTION IN PROGRESS $ - $ - $ - $
-
NET INCREASE/(DECREASE) IN FUND
BALANCE $ (35,276) $ 121,427 $ 67,401 $ 2,440
LATAX - Fund Balance 6/30/2010 $ 2,297,950
The Local Accommodations Tax Fund is a special revenue fund that receives the accommodation taxes collected by the County of Charleston
for the Town, which are sent to the Town to be used to attract tourist or pay for infrastructure.