CAPE CHARLES, Va. — The Town Council of Cape Charles has announced a public hearing and special meeting to discuss amendments to the Fiscal Year 2024 budget, along with the reallocation of funds for the remainder of the fiscal year.
The decision comes amid notable increases in various revenue streams and adjustments in expenditures. Here’s a breakdown of the proposed changes:
General Fund Revenue:
- 2023 Real Property Tax: Anticipated to rise, reflecting increased property values or improved collection methods.
- BPOL – Business Licenses: Expected to yield higher returns, possibly due to an increase in business activities within the town.
- Meals Tax: Projections suggest an uptick, indicating potential growth in local dining establishments.
- Sale of Town Real Property: Additional revenue expected from the sale of town-owned assets.
General Fund Expenditures:
- Professional services associated with the Beachfront Master Planning: Allocations towards planning efforts for the town’s beachfront areas.
- Auditor & Accounting Services for special audit after utility sale: Funds earmarked for auditing purposes following the sale of utilities.
- Purchase of additional police vehicle (offset by USDA RD grant/loan proceeds): Investment in law enforcement resources, supplemented by external funding.
- Police equipment, travel, lodging to send two new police officers to the academy: Support for officer training and essential equipment.
Capital Projects Fund:
- Decrease in revenue & expenditures due to error in original adopted budget: Adjustments made to rectify errors in the initial budget projections.
- Slight increase in revenue & expenditures: Modest adjustments reflecting changes in utility usage or billing processes.
- Decrease in revenue due to reduction in harbor traffic: Impact of reduced harbor activity on revenue generation.
- Expenditures adjusted for reduced revenue: Corresponding adjustments to harbor-related expenses to align with decreased income.
Mid-year amendments to fee schedule:
- Third-party credit card processor fees for Cape Charles Harbor: Introduction of new fees associated with credit card transactions at the harbor.
- Building, Planning & Zoning fee waivers for nonprofit organizations up to $750 per project application: Fee waivers introduced to support nonprofit initiatives within the community.
The public hearing and special meeting present an opportunity for community members to provide input and insights into the proposed amendments. The Town Council encourages residents to participate actively in the discussion of Cape Charles’s financial priorities for the remainder of Fiscal Year 2024.
The hearing is scheduled to take place at Cape Charles Civic Center on February 1st at 6:00.