Edisto Town Council met on May 14 to discuss changes to the 2020-2021 budget.
The budget went through its first reading and will go back to Council on June 11 for its second reading. The approved budget will go into effect July 1.
Changes to the General Fund Revenues are as follows:
• Anticipate a 5% reduction in accommodations taxes due to Covid-19
• Anticipate a 10% reduction in hospitality taxes due to Covid-19
• Garbage rates are staying the same for the residential primary trash can. Additional can rates increased by $6.16/month in order to cover the garbage collection contract. This garbage fee is a pass-through and is only used to cover the contract fee for services.
• Town millage rate adjusted by 0.55% which is banked millage (to put this in perspective this would be a $16.50 yearly increase for a home valued at $500,000 with a 6% assessment rate).
Changes to the General Fund Expenditures:
• Replace the Fire Department’s Rescue Squad vehicle
• Replace two police vehicles
Complete two Capital Improvement Projects:
• Fire department barracks remodel ($43,325)
•Architecture services for a preliminary plan for a new town hall. This plan would be for submittal to the Colleton County Capital Project Sales Tax Commission in 2022 to request funding for this project ($50,000)
• Bike path repair ($85,000)
• Drainage engineering study ($35,000)
A change to the Water Fund Revenue is:
• 15% scheduled user fee increase. This is an approved scheduled increase to fund the town’s new water treatment facility.
Water Fund Expenditure plan is:
• Purchase a trailer-mounted jet vacuum which will allow town staff to clean lift stations and perform hydro-excavation on water projects ($75,000)
Sewer Fund Revenue:
• 3% scheduled user fee increase
Sewer Fund Expenditure:
• Complete sewer system modeling and develop a capital improvement program ($61,452)