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)