►
Description
Town of Hilton Head Island, Finance & Administrative Committee May 17, 2022 10:00 AM
Meeting Agenda available at https://www.hiltonheadislandsc.gov/towncouncil/agendas/
A
A
E
A
All
those
in
favor,
please
signify
by
saying
I
I
opposed
the
same.
Thank
you
under
new
business,
we
have
two
agenda
items
we
have
with
us:
scott
weirman,
president
and
ceo
of
the
foundation
of
the
low
country
to
report
on
the
second
tranche
of
the
american
rescue
plan.
Act.
2021
grants
mr
weirman
citizens.
A
F
Well
good
morning,
thank
you
very
much
for
the
opportunity
to
be
back
together
with
you
and
again.
Let
me
state
at
the
beginning,
the
foundation
appreciates
the
partnership
with
the
town
with
the
arpa
funds.
I'm
joined
today
by
my
colleague,
debbie
cahoon,
who
serves,
as
vice
president
for
community
investment
for
the
foundation.
F
She
oversees
all
of
our
grant,
making
programs,
as
well
as
our
scholarship
programs.
Last
year,
those
two
combined
programs
totaled
just
under
seven
million
dollars.
More
importantly,
to
this
process.
Debbie
is
the
staff
lead
for
the
arpa
process
for
the
town
and
she
has
been
she's
worked
directly
with
each
of
the
grant
recipients,
not
only
in
the
process,
but
also
has
had
conversations
as
a
follow-up
with
each
of
the
grantees
to
get
progress
reports,
and
I
believe
you
all
receive,
maybe
yesterday
a
thorough
report
on
all
of
the
grants
and
progress
to
this
point.
F
F
As
you
may
recall,
we
have
seven
citizens
that
are
charged
with
the
responsibility
of
reviewing
all
the
applications
meeting
discussing
doing
the
due
diligence
in
conjunction
with
debbie
and
making
decisions.
Those
seven
individuals
are
peaches,
peterson,
jerry,
ferran,
reverend
doug,
fletcher,
herb
ford,
galen
miller,
sheila,
mahoney
and,
of
course,
john
representing
the
town.
F
F
As
I
mentioned
to
you,
when
I
met
with
you
in
february,
one
of
the
things
that
we
feel
like
we
can
add
some
value
in
this
process
is
just
bringing
these
groups
together.
They're
all
doing
great
work,
they're
all
very
busy,
especially
for
the
last
couple
of
years,
addressing
the
needs
of
the
pandemic,
but
debbie's
actually
been
able
to
convene
two
gatherings
of
the
non-profits
and
from
those
meetings
number
one.
F
F
F
Interestingly
enough,
housing
support
seems
to
be
slowing
down
a
little
bit.
That
was
a
very
hot
topic
early
on,
but
the
agencies
that
have
received
some
that
money
said
that,
while
there's
still
a
need
at
the
the
pace
of
the
request
is
definitely
slowing
down.
We're
not
sure
if
that
is
directly
attributable
to
people
being
able
to
get
back
to
work
or
if
people
have
just
relocated
off
the
island
and
found
housing
somewhere
else.
F
G
G
G
We
I
go
to
our
database
and
I
contact
all
of
the
hilton
head
organizations
or
the
organizations
off
of
the
island
that
I
know
provide
services
to
hilton
head.
I
send
an
email
to
those
we
also
we
make
presentations
in
our
bi-monthly
impact
information
sessions.
Where
organizations
come
in
to
learn
about
our
grant
processes.
G
We
discuss
this
opportunity
there
as
well
it
the
the
information
goes
out
on
our
social
media.
It's
listed
on
our
website,
our
marketing
director,
who
is
brand
new
to
the
foundation
he's
been
here
for
about
six
weeks,
we'll
work
with
carolyn
grant
with
the
town
to
make
sure
that
she
has
the
information
that
the
town
needs
to
get
the
the
information
out
to
agencies
as
well,
and
I
think
that's
pretty
much
all
I
have
to
say
unless
you
have
any
questions.
D
Yes,
thank
you
very
much
for
your
report.
You
have
a
difficult
balancing
act
because
you
have
a
lot
of
organizations
that
are
reaching
out
when
you
do
not
fully
fund
a
particular
request
or
don't
fund
it
at
all.
What
sort
of
explanation
is
given
to
that
particular
non-profit
about
the
reasoning
behind
that.
G
Download
you
know
if
there's
a
specific
reason
we
talk
about
that.
Sometimes
we
identify
funds
within
the
organization
that
may
be
a
better
resource
for
that
particular
grant
if
it
doesn't,
if
it
doesn't
seem
to
meet
the
need
closely
enough
for
the
committee,
so
we're
always
looking
for
opportunities.
G
We
had
an
organization,
the
first,
the
first
application
round.
The
committee
felt
that
the
application
wasn't
quite
strong
enough.
They
asked
staff
to
work
with
this
organization
to
help
them
better,
understand
the
process
and
and
the
the
way
that
they
they
could
better
meet
the
needs
that
they're
they
were
looking
at.
So
we
worked
really
closely
and
they
applied
the
second.
The
second
go
around
received,
funding
and
they're
very,
very
excited,
very
they've
done
a
great
job
of
working,
collaborating
with
other
agencies,
so.
H
Alex
yes,
thank
you
good
morning,
echo
the
gratitude
of
my
colleagues
with
this
relationship
that
we
have
with
community
foundation,
low
country
and
also
commend
your
efforts,
not
only
in
in
this
particular
case,
but
always
in
the
eye
of
trying
to
collaborate
with
all
of
the
organizations.
I
think
you've
had
some
success
in
this
particular
case.
You
mentioned
that
some
of
the
organizations
are
not
going
to
get
through
the
entire
amount
of
money
requested.
G
Sure
the
society
of
saint
vincent
de
paul's,
they
have
had
a
decr,
they
didn't
have.
The
number
of
folks
coming
forward,
who
were
with
the
emergency
housing
needs
that
they
expected,
so
their
hope
was
to
spend
all
of
this.
You
know
to
be
able
to
get
this,
this
assistance
to
the
community
and
then
apply
again.
G
They
have
not
been
able
to
do
that.
They're.
Looking
really
strong
at
the
covid
connection
to
make
sure
that
the
that
the
need
is
related
to
covid
and
they
will
be
filing
an
interim
report
in
june
and
I
think
they
have
about
18
000
left
to
spend
that
will
go,
that
they
will
that
they
will
use
between
now
and
next
june,
so
that
they
can
do
a
final
report.
In
june
I
spoke
with
with
margie
thompson
who's
running
that
program.
G
H
All
right
perfect,
as
a
councilman
hawkins
mentioned
this
exercise,
is,
is
critical
to
us
because
we're
not
as
close
to
the
situation.
Okay,
but
I
want
to
take
that
step
further.
As
we
start
to
embark
on
initiatives
here
at
the
town,
I
use
one
as
a
particular
example:
our
redevelopment
of
the
mid
island
area.
Okay,
this
information
that
you
all
provide
to
us
is
is
very
important.
H
Okay,
it's
not
making
sense
to
me,
okay
and
I'm
concerned
about
the
exodus
of
folks
from
hilton
head
to
other
areas
because
of
the
rental
inclines.
So
if
we
can
get
some
better
data
around
that,
that
will
help
us
down
the
road.
Okay
and
the
the
other
is
just
the
geographical
area
is
most
commonly
served.
I
think,
is
important,
also,
okay,
so
those
are
my
comments
and
again
I
really
thank
you
all
for
for
your.
G
Efforts,
thank
you
alex.
Can
I
share
one
thing
as
far
as
the
another
issue,
with
the
the
rental
assistance,
we
have
there's
a
state
agency
that
is
providing
a
lot
of
resources
as
well
up
to
18
months
of
back
rent
and
that's
one
low
country.
Legal
volunteers
is
helping
people
get
access
to
that
funding
as
well.
So
there's
still
a
lot
of
a
lot
of
funds
available,
but
there's
not
as
much,
I
think
for
food.
A
Debbie
and
scott,
thank
you
very
much.
I've
got
to
say
it's
really
pleasant
to
see
when
the
plans
for
process
are
played
out
and
work,
and
even
greater
than
that
they
will
pursue
the
benefit
of
so
many
agencies
that
have
a
need
at
the
same
time,
they
provide
services
for
those
who
also
have
a
need.
I
think
it's
important
to
note.
A
G
The
the
quality
of
the
applications
is
good
that
the
agencies
most
of
the
agencies,
are
familiar
with
their
application
portal
and
and
the
process.
So
I
think
this
this
particular
application
is
not
as
complicated
as
some
except
for
the
reporting
requirements
as
far
as
the
income
level
and
the
race
and
ethnicity
going
through
the
process
once
for
the
cdbg
grants,
they
were
a
little
bit
better
prepared
this
time.
So
I'm
I'm
pleased
with
with
the
work
that
the
agencies
put
into
this
process.
F
A
Good
one
of
the
things
you
mentioned
was
unanticipated,
and
that
was
the
leverage
of
these
funds
by
the
grant,
applicants
and
awardees
if
you
can
continue
to
accumulate
what
dollars
were
awarded
subsequent
or
as
a
result
of
these
dollars.
It
would
be
something
that
we
can
use
percep
prospectively
in
the
future.
F
That's
great
we're
happy
to
get
additional.
I
know
in
the
case
of
volunteers
in
medicine
it
was
a
forty
thousand
dollar
gift
that
was
made
by
an
individual.
Who
was
appreciative
of
what
was
happening.
They
were
able
to
see
it.
They
see
that
produce
is
already
being
delivered
and
shared
with
those
in
need,
and
just
said
what,
if
we
could
double
the
capacity,
and
so
they
wrote
a
check
for
40
000.
A
I
You,
mr
chairman,
yes,
I'm
happy
to
present
10
months
in
what
a
different
look.
It
is
from
10
months
ago,
when
this
budget
was
first
passed
by
town
council.
There
was
still
quite
a
bit
of
nerves
about
how
is
kovit
going
to
affect
our
revenues.
How
is
kovat
going
to
affect
our
expenditures,
and
will
we
collectively,
as
a
community,
be
able
to
come
out
of
the
threat
of
covid?
And
so
here
we
are
10
months
in.
I
There
we
go
okay,
so
we
continue
to
think
town
council
from
past
actions
to
build
build
reserves
and
diversify
revenue
streams
that
certainly
helped
us
in
times
of
distress,
whether
it's
a
hurricane
or
whether
it's
a
pandemic,
it
helped
the
town
have
financial
resiliency
and
that
certainly
showed
april's
preliminary
results.
We
are
glad
to
report.
That
april
was
another
good
collection
month
of
the
10
months
that
we
reported
so
far
this
year,
eight
have
been
better
than
last
year.
I
The
outlier,
if
you
look
at
that
march,
was
just
a
delay
in
the
property
taxes
from
year
to
year,
and,
and
so
it
probably
would
have
been
nine
months
out
of
ten
that
was
better
than
last
year
so
yearly
year
to
date,
our
revenues
continue
to
be
above
the
last
several
years.
They
continue
to
be
strong.
I
I
10
months
in
we're
still
not
finished
with
the
year,
and
so
may
is
not
a
big
collection
month
you
can
look
at.
That
is,
is
it?
What
are
we
expecting
this
month?
Not
a
lot.
So
our
picture
between
what
you
see
here,
10
months
in
versus
11
months,
won't
change
that
much
from
a
revenue
side
it'll
be
one
more
month
on
the
spending
side
and
you
can
look
at
june
as
a
is
a
very
important
month
finish
the
year.
I
We
should
be
at
16
million
one,
and
so
we
can
exceed
budget
we
can
exceed
last
year
and
and
call
it
a
successful
property
tax
collection
here,
revenue
preview-
these
are
a
little
bit
smaller,
but
some
of
the
important
ones
you
can
see.
These
are
the
same
subset
of
major
revenues,
but
I
think
they're,
a
good
indication
of
the
overall
tax
increment
financing,
seven
percent.
You
had
different
numbers
earlier
in
the
year.
This
is
more
of
a
complete
look,
local
and
state
a
tax,
both
above
30
percent
better
than
last
year.
I
So
those
those
numbers
continue
their
strengths,
real
estate
transfer
fee
at
one
and
a
half
percent
less
of
what
was
a
record
last
year,
and
so
I
I
would
not
look
at
that
as
a
negative
at
all.
It's
continuing
in
the
in
the
same
sense
that
we
were
last
year
was
a
record
number
h:
tax,
30
percent
above
beach
feed,
34
percent
above
electric
franchise
fee.
We
actually
had
and
and
thank
the
mayor
for
the
question.
I
I
I
The
demand
has
not
been
as
much
as
last
year-
road
usage
fee.
Of
course
we
have
paused
collections,
and
so
we
won't
see
any
more
from
that
for
the
rest
of
the
year.
Storm
water,
we're
looking
at
we're
slightly
more
but
storm
water
is
a
very
stable
revenue
item,
and
so
it's
just
above
property
taxes
we're
beating
last
year
by
a
1.7
percent,
and
so
those
those
percentages
earlier
in
the
year
were
big.
Big
swings
difference
from
the
year
before,
but
now
it's
much
more
of
where
you'll
see
it
end
up
and
so
business
license.
I
There's
a
lot
of
changes
in
the
business
license
timing,
and
so
I
it
will
be
interesting
to
see
the
difference
on
that.
I
don't
think
that
percentage
of
30
percent
better
than
last
year
will
hold.
It
will
probably
be
reduced
and
so
ambulance
billing,
9.7
percent-
that's
that's
all
inactivity
activity
on
the
island
is
high.
Ambulance
runs,
are
higher.
A
I
I
I
I
How
do
we
do
compared
to
the
full
year
we're
85
percent
of
last
year's
collections,
and
so
last
month
was
eight
seventy
five
percent,
so
that
kind
of
gives
you
a
a
sense
of
how
much
did
we
collect
in
april,
which
was
a
good
month
and
we're
certainly
not
going
to
stop
at
86
million
dollars,
and
that
was
the
the
total
for
last
years
for
this
set
of
revenues,
we'll
beat
it,
and
so
our
first
look
early
on
in
the
year.
We
started
these
schedules.
I
And
so
you
look
at
the
pie,
chart
same
thing:
we're
83
percent
of
the
fiscal
year.
We've
done
85
percent
of
the
collections
and
our
expectations.
We
should
be
90
million
dollars
this
year,
so
we
won't
stop
at
the
86
million
from
the
previous
year.
Would
we'll
be
above
90
million,
and
so
we
can
be
happy
to
report
that
at
this
time,.
I
Real
estate
transfer
fee,
we
get
a
little
bit
more
into
the
expectation
you
can
see.
The
green
bar
is
almost
as
good
as
last
year,
which
is
blue
and
well
above
the
yellow,
which
is
the
year
before,
and
so
that
continues
its
strength
and
so
any
time
that
we
can
report
it's
almost
as
good
as
fiscal
year.
I
I
I
General
fund,
like
we
talked
on
the
revenue
side.
These
are
the
town's
basic
operations.
There's
been
a
little
bit
of
shifting
between
last
year
and
this
year
of
where
we
record
our
spending.
But
I
think,
if
you
look
at
it
overall
and
say:
okay,
we're
3.4
percent
more
spending.
Last
year,
it's
a
very
reasonable
and
modest
increase.
I
I
Last
year
we
were
still
delaying
for
covid
some,
and
so
we
were
purposefully
holding
back
in
case
our
revenues
didn't
come
in.
If
you
look
at
the
sheriff
and
beach
services
last
year
we
took
some
of
the
savings
that
we
had
from
public
safety
and
put
it
into
the
county
parks
this
year.
We're
not
doing
that,
and
so
the
parks
funding
is
in
the
facilities
and
so.
I
Not
anything
that
was
unexpected,
and
so
a
couple
of
things
here
that
how
are
we
doing
compared
to
the
budget
we're
10
months
in
83
of
the
year
75
of
the
budget
is
spent.
Last
year
we
were
73
of
the
budget
spent,
and
so
I
think
what
you
can
draw
from
that
is
that
a
couple
of
things
one
our
budgets-
are
a
little
tighter
this
year
than
last
year
and
it
shows
through
here
and
also
last
year.
I
Temporary
use
of
the
reserves,
you
can
see
the
revenues.
This
is
the
general
fund
and
back
to
a
more
narrow
look.
Revenues
are
up.
Eight
percent
spending
is
up
three
percent
net
general
fund
activity,
you'll
see
those
numbers
bounce
between
now
and
june
30th,
and
so
it,
although
it
says
50
57
better
than
last
year,
you'll
see
that
number
jump
up
and
down
before
we
finish
june
30th,
but
a
good.
F
I
I
Just
put
it
in
a
graphical
sense:
you
look
at
april
and
and
what
a
difference
you
can
see
the
difference
year
to
date
of
our
use
of
our
fund
balance,
and
so
our
spending
is
more
steady
throughout
the
year.
Our
revenues
are
delayed.
Mostly,
we
can
see
that
through
our
property
taxes,
but
other
revenues
as
well,
and
so
we
run
a
temporary
deficit.
You
can
see
through
december
this
year,
but
beyond
that
for
the
previous
years.
I
I
I
I
We
are
going
to
may
is
a
low
collection
month,
and
so
we
know
that
that
temporary
surplus
is
going
to
drop
it'll,
be
interesting
to
see
how
much
and
it's
going
to
have
a
little
bit
of
ups
and
downs.
Yet
before
we
finish
out
the
year,
and
so
some
of
our
june
revenues
and
that's
just
part
of
the
year
end
accrual
process,
actually
a
lot
of
our
june
revenues.
I
We
receive
it
in
july,
we
because
of
year
end
and
for
the
audit
we
post
them
to
june
30th,
and
so
we
don't
know
these
things
until
you
know
the
third
or
fourth
week
of
july
that
we're
able
to
get
you
hard
numbers
on
june,
but
it's
coming
up,
and
so
that's
one
of
the
reasons
also
that
june
shows
a
higher
collection
month.
Is
that
a
lot
of
this
activity
is
both
june
and
july.
I
We
post
back
to
june
30th
for
the
audit
beach
fee.
Another
good
collection
so
consistent
across
the
board.
Beach
fee
has
been
better
every
single
month,
beach
fee
year
to
date,
better
than
the
last
two
years,
every
single
month,
hospitality
again
better
every
single
month
and
so
april
is
a
higher
month.
You
can
see
some
people
pay
monthly.
Some
people
pay
quarterly
and
so
april
was
a
quarter
a
quarter
end
and
we
again
beat
last
year
beat
the
year
before
consistently
our
year-to-date
hospitality
collections
beat
the
last
two
years
storm
letter.
I
This
is
way
too
much
information.
I
did
want
to
just
put
it
in
there
and
it's
it's
more
for
a
reference
item.
But
if
you
look
at
our
operating
revenues,
they're
pretty
consistent,
pretty
flat,
not
a
lot
of
change,
and
so
what
is
generated
through
the
storm?
Water
fees
doesn't
change
huge
amounts,
and
so
you
don't
see
the
huge
percentages
that
you
might
on
some
other
revenues
that
are
more
economically
sensitive.
I
I
All
right,
if
you
take
four
years
at
a
time,
basically
we're
a
break
even
and
so
the
four
years
since
the
post
matthew
that
we've
basically
broken
even
for
storm
water,
and
so
I
you
look
at
this
and
say:
well,
we
wouldn't
want
to
hold
back
any
money
we
want
to
implement.
We
want
to
do
these
projects.
I
Just
a
note
part
of
what
we
do
stormwater
is
just
a
little
bit
different,
it's
an
enterprise
fund
and
so
it's
more
of
a
business-like
accounting
than
what
you
would
see
in
our
fund
financials
for
the
rest
of
the
funds.
But
what
we
try
to
do
is
that
the
depreciation
and
amortization
together
about
equal,
our
capital,
investment
and
so
that's
kind
of
one
of
the
one
of
the
ways
that
we
look
as
we
try
to
budget,
and
so
we
try
to
make
that
cash
flow
work.
A
I
I
And
you
know
in
a
normal,
if
you
were
to
look
at
a
business,
p,
l
and
say:
well,
that's
a
lot
of
spending,
but
if
you
consider
no,
this
is
we're
providing
a
service
to
the
community.
You
want
to
see
that
maintenance,
expense
and
you
want
to
see
that
spending,
because
we're
you're
seeing
those
improvements
around
the
island.
I
Just
another
look:
this
is
a
if
you
look
at
our
annual
report,
page
40
and
41.
I
think
those
are
some
of
the
best
ways
that
you
can
kind
of
summarize
our
financial
picture,
and
so
I
took
those
revenues
from
those
pages
plus
storm
water
and
mapped
them
over
time,
and
you
can
see
at
2020
was
the
start
of
cove.
It
started
in
march.
I
Before
march,
we
were
well
above
and
having
a
very
successful
year
in
2020
until
the
shutdown
happened,
and
then
you
can
see
here
in
2020.
We
went
from
well
above
previous
years
to
below
because
of
the
coveted
shutdown,
but
then
you
can
also
see
in
2021
2022
and
now
our
2023
budget.
We
have
certainly
bounced
back
and
bounced
back
well
and
that's
our
our
story.
I
And
if
you
take
out
there's
some
oddities
here,
if
you
are
five,
mills
is
going
to
expire
for
the
disaster
reserves
lease
proceeds
to
pay
for
fire
trucks.
Those
are
kind
of
two
anomalies
you
take
those
out,
and
that
gives
you
a
look
at
all.
How
much
increase
are
you
expecting
for
2023?
And
I
think
you
can
see
through
this
chart
very,
very
modest,
very,
very
flat.
I
This
is
way
too
many
numbers,
but
I,
but
I
wanted
to
give
just
kind
of
a
point
of
reference-
is
that
our
fund
balances
are
limited
and
and
we
collect
them
and
we're
defined
by
the
type
of
revenue.
So
those
are
the
type
of
uses,
but
you
can
see
a
five-year
look
or
it's
more
than
that
six
year,
look
at
fund
balances
over
time.
It's
a
general
is
our
operating
budget.
Our
operating
budget
offering
activities
are
funded
through
there
and
then
the
different
categories.
Those
are
different
categories
of
revenue.
I
I
would
lead
you
to
the
natural
disasters.
You
look
at
pre
matthew.
There
was
nothing
there,
there's
nothing
in
that
fund
that
was
created
really
to
capture
the
activity
of
hurricane
matthew
and
then
to
prepare
for
what
might
happen
after
hurricane
matthew.
If
there's
another
hurricane,
be
it
irma
or
dorian
or
florence
or
or
whatever,
and-
and
I
think
that's
a
success
that
the
town
has
had
is
that
we
we
did
do
a
bond
issue.
We
deposited
those
monies
into
that
fund
and
you
can
see
it
went
from
zero
to
now.
I
I
I
I
put
in
there
and
I
I
made
just
a
little
change
at
the
bottom,
without
cip
or
disaster.
If
you
look
at
our
capital
projects
line,
it
went
from
5
million
up
to
40
million
and
back
down
to
7
and
really
that's
just
the
timing
of
our
capital
projects.
And
so
what
you'll
see
in
there
is
bond
proceeds
for
uscb
bond
proceeds
for
the
recreation
association,
building
bond
proceeds
for
fire
station
2,
and
so
those
are
kind
of
anomalies
that
we
just
temporarily
park
those
funds
until
they're
spent
out
on
capital
projects.
I
And
so
I
think
the
disaster
funds
are
set
aside
and
we
don't
plan
to
spend
those
unless
we
have
to
and
the
cip
to
me,
they're
already
spent.
And
so
what?
If
I
take
those
two
out,
then
we're
not
we're
not
counting
what
we're
not
going
to
spend
and
we're
not
counting
what
is
going
to
be
spent
and
that's
more
of
a
complete
picture
of
our
financial
position
of
what
we
have
to
work
with.
I
I
I
You
can
look
at
2022,
so
we're
putting
a
little
bit
of
prediction
in
there
for
june
30th,
for
how
will
we
end
up
this
year?
Yeah
you
go
back
to
through
2021,
and
these
are
actuals.
These
are
off
the
annual
reports
you
throw
in
2022.
Those
are
projections,
but
we
feel
good
about
those
we're
10
months
in
another
piece
to
look
at.
This
is,
if
you
look
at
our
bonded
indebtedness
from
2018
to
2022
nice
steps
down
every
single
year
and
so
2022.
I
These
are
our
2021.
Our
actuals
2022
is
almost
over
10
months
in
we'll
have
another
actual
and
then,
with
the
budget,
that's
being
considered
for
second
reading
soon
in
june,
we'll
have
a
fifth
year
in
a
row
with
a
reduction
in
debt,
so
that
helps
add
to
our
the
town's
capacity
if
we
need
to
borrow-
and
it
helps
to
our
financial
position.
If
you
just
look
at
our
balance
sheet,
our
debt
levels
have
dropped
and
our
fund
balances
have
increased.
I
You
put
them
together
and
you
see
the
blue.
The
fund
balance
is
going
up
our
debt
going
down
and
certainly
all
very
good
trends,
and
then,
if
you
take
the
difference-
and
it's
it's
good
to
know-
but
this
is
the
difference
of
debt
fund
balances,
minus
debt,
and
so
we
certainly
can
show
increase
in
financial
position.
I
We
project
that
we
should
end
up
at
a
very
similar
level
at
the
end
of
2023,
with
where
we
were
at
2021.
So
we
we
have
a
temporary
increase
on
22..
We
spend
that
money
in
23
and
we're
still
in
great
financial
position
and
that's
our
story
and
so
and
we
will
continue
to
reduce
our
debt
into
2023,
so
it
I
I
think
it's
I'm
happy
to
report
that,
and
so
I'm
glad
not
to
report
problems.
I
I
can
report
successes,
and
so
you
look
at
our
fund
balances
minus
our
debt,
that
kind
of
levels
off
we
kind
of
hit
a
comfortable
level.
I
think
I
would
describe
that
as
a
as
a
comfortable
level
and
so
in
a
place
where
we
wouldn't
necessarily
need
to
add
more
and
it's
now
we
can
have
discussions
about
how
do
we
best
deploy
those
funds
and
so
to
come
back
to
councilman
stanford's
questions
before
is
yes,
we
have
to
continue
to
need
hurricane
preparedness.
Matthew
is
57
million
you
throw
in
inflation.
That
has
already
happened.
I
It's
going
to
cost
63
you
throw
in
inflation,
that's
happening
now,
and
it's
going
to
be
substantially
more
than
that,
and
so
how
would
we
get
there?
Here's
a
quick
look,
how
we
could
get
there
with
the
caveat
that
matthew
is
a
one,
almost
a
two,
and
it
could
be
worse,
and
so
then
the
magnitude
goes
up.
The
expenses
go
up
in
greater
magnitudes
from
one
to
two
to
three,
and
so
it's
just
a
part
of
hurricane
preparedness.
D
I
Think
it's
something
that
we
need
to
probably
have
a
real
discussion
about
every
single
year
and
as
a
community
to
decide.
Well
how
ready
is
ready?
How
how
how
much
should
we
set
aside-
and
I
think
it's
a
very-
we
need
to
have
a
real
discussion
about
that
and
a
policy,
and
so
I
think
that
would
probably
be
something
that
the
finance
administrative
committee
can
take
up
and
maybe
tom
council
could
take
up
as
a
normal
conversation.
Do
we
feel
that
we
are
best
prepared
or
appropriately.
D
H
Yeah,
thank
you
to
mr
stanford's
point.
I
think,
there's
some
information.
That's
critical
to
us
really
analyzing!
This!
That's
probably
missing
at
this
point
because
the
way
I'm
reading
this
so
it
costs
57
million.
Before
right
now
we
have
capacity
of
about
72
and
a
half
million
okay,
there's
some
type
of
percentage
increase
there
that
I
can't
do
in
my
head
at
the
moment.
But
what
I'd
like
to
know
is
we
started
in
matthew's
year
with
zero
we
had
to
get
to
57
million.
We've
made
some
adjustments
to
get
to
72
million.
H
I
One
of
the
things
the
bond
capacity
was
there,
but
the
bond
capacity
was
a.
It
was
based
on
our
tax
roll
on
the
assessed
value
and
but
the
math
turned
out
to
be
about
14
million
dollars
capacity
that
we
set
aside
for
emergencies,
and
now
council
made
the
policy
to
increase
that
to
20
million,
so
that
helps
us
to
get
there.
I
The
natural
disaster
fund
we
used
some
general
fund
fund
balance.
We
used
some
storm
water
fund
balance.
We
used
some
beach
fee
fund
balance
in
order
to
do
the
initial
push
for
the
matthew
response
to
to
do
the
cleanup,
and
then
we
put
the
female
reimbursements
back
into
the
natural
disaster
fund
and
then,
in
addition
to
those
female
reimbursements
which
stayed
in
the
natural
disaster
fund,
we
did
a
bond
issue
that
was
funded
by
the
five
mills,
and
so
we
put
the
proceeds
of
those
bonds
into
the
natural
disaster
fund.
I
H
Yeah,
you
asked
my
question:
all
I'm
suggesting
is
that,
as
we
have
the
conversation
in
subsequent
years,
that
information,
be,
I
guess,
more
prevalent
here,
so
that
we're
making
a
a
sounder
decision
based
on
history
and
future.
That's
where
I'm
going.
You
may
need
to
translate
that
for
me,
mr
lincoln,.
A
I
think
I
think
you
you
are
asking
the
right
question.
The
one
thing
that
doesn't
show
here
is
unused.
Borrowing
capacity
has
to
go
on
top
of
the
fund
balances
and
for
the
first
time,
in
a
long
time
you
see
outstanding
debt
being
less
than
the
fund
balances,
so
our
net
position
is
positive,
so
to
the
fund
balances
and
the
disaster
funds
that
we
have
on
on
hand.
We
add
to
it
the
unused
borrowing
capacity,
and
we
are
well
above
that
72
million
dollar.
I
I
I
If,
if
you're
having
a
question,
then
other
council
me
people
might
have
the
same
question,
and
so
that's
certainly
helpful
and
we
we
like
that,
what
can
we
look
ahead
to
2022
preliminary
results
and
we're
not
that
far
from
starting
2023,
and
so
we
had
2022
is
a
good
year.
Okay,
now
we
got
to
start
over,
let's
see
how
we
do.
I
From
the
budget
perspective,
we
got
public
hearing
second
reading
on
the
seventh
and
I
do
like
to
emphasize
that
our
five
mills
that
was
for
disaster
response
is
expiring,
and
so
that's
something
that
we
can
celebrate
as
a
community,
and
so
council
said
five
years,
it's
been
five
years
and
it's
going
away.
So
mr
chairman
asked
the
question:
should
we
go
over
the
details
of
this?
I
But
there's
I
just
put
this
list
for
future
discussion
and
to
make
a
note
that
finance
administrative
committee
has
a
lot
of
agenda
items
that
are
on
the
strategic
plan:
here's
the
list
and
that
we're
going
to
check
back,
and
that's
probably
something
that
we'll
spend
some
more
time
at
our
next
meeting
about
the
progress
report.
The
expected
dates
the
timeline
so
that
we
can
make
sure
that
finance
administrative
committee
is
keeping
up
to
date
with
the
pulse
and
appropriate
progress
of
the
strategic
plan.
D
D
I
And
yes,
we
we
did
have
that
dynamic
of
including
the
one
unit
rentals
as
the
business
licenses,
but
there's
been
increased
activity,
and
so
you
would
expect
business
licenses
a
function
of
sales,
and
so
it's
much
like
your
hospitality
and
beach
and
accommodations
taxes,
and
so
you
would
expect
their
percentages
to
be
high,
but
not
necessarily
as
high
as
those.
And
so
my
expectation
is,
it's
pardon
me.
I
apologize
that
they're
going
to
come
down,
but
it's
still
early,
and
so
we
don't
quite
have
our
apples
to
apples
yet.
D
I
You
know,
I
think,
that's
an
excellent
question,
and
so
that's
a
piece
of
it
is
that
part
of
the
reason
that
we
study
operations
in
in
difficult
economic
times.
There
was
a.
I
can
tell
you.
There
was
an
effect
on
our
business
licenses,
accommodation,
tax,
beach
fees
and
property
taxes
too.
The
valuations
dropped
significantly
in
the
2010-2011
time
frame
and
has
taken
a
while
to
come
back
and
in
second.
D
Lastly,
we
see
the
this
very
steep
curve
of
improved
financial
position
for
the
town
that
you've
been
happily
reporting
to
us
now
for
some
time,
do
you
see
that
growth
and
improvement
leveling
off
into
the
future?
It's
hard
to
predict.
I
mean
that
that's
pretty
steep
curve
that
we've
seen
of
increases
here
and
I
don't
want
us
to
get
fat
and
happy
saying.
Oh
we'll
just
continue
doing
that,
and
so
I'm
wondering
what
your
crystal
ball
tells
us.
I
I
We
hope
it
stays,
but
we
certainly
don't
expect
that
kind
of
increase
to
compound
on
itself
and
at
some
point
you
also
feel
a
capacity
issue
is
that
there
used
to
be
you
know
the
shoulder
season
and
and
times
when
the
island
was
less
busy
and
now
what
I
think
part
of
this
is
is
that
our
shoulder
seasons
have
really
dropped
off
and
we're
busy
all
the
time,
and
so
our
ability
to
to
see
these
kind
of
increases,
I
think,
are
going
to
be
very
limited.
I.
D
I
I
How
much
do
we
need
to
cut
to
really
make
it
work
and
to
be
responsible
and
and
then
shift
in
just
a
very
short
amount
of
time
to
saying?
Okay,
we're
going
to
have
a
conversation
in
the
future
about
how
do
you
best
use
the
surplus
and
we're
going
to
raise
our
fund
balance
policies
and
we're
going
to
pay
off
our
debt?
H
Today's
report
destroyed
concentrate
a
lot
on
the
the
I
guess-
revenues
I
don't
know
my
mind-
may
work
backwards,
I'm
not
quite
sure
yet
we'll
figure
it
out,
but
you
know
at
the
beginning
of
the
budget,
which
seems
like
a
blur
go
with
this
one.
You
know
I
for
one,
I'm
really
concerned
about
the
revenue
piece,
because
you
just
don't
know
okay,
but
when
you
start
to
get
to
close
of
budget,
the
expenditure
side
is
what
rises
to
my
level
of
anxiety
increasing.
H
H
H
It
looks
good
on
paper
as
far
as
a
dollar
figure
is
concerned,
but
we
have
some
negative
effects
in
terms
of
our
community
values.
Okay,
we're
talking
about
short-term
rentals
right
now,
because
maybe
we
have
too
many.
Maybe
we
don't.
We
haven't
answered
that
question
yet,
but
we've
obviously
seen
an
increase
in
our
revenues
because
of
that
right,
so
attaching
those
those
revenues
and
also
the
expenditures
to
our
long-term
community
planning
and
our
community
values-
is
so
important
to
this.
E
You
tom
the
one
subject:
I'd
like
to
see
a
deeper
dive
on
in
the
future.
Not
not
today
is
one
of
our
largest
assets
on
the
island,
but
it's
subterranean
the
the
storm
water
system
and
if
you
could
create
an
overview
that
would
in
include
the
following
one,
is
the
the
age
of
the
system
on
average
and
then
by
by
location,
the
the
a
depreciation
schedule
that
reflects
what
an
engineer
would
call
normal,
useful
life
and
to
see
whether
our
funding
for
that
asset
is
inadequate
or
not,
or
is
there
a
shortfall.
A
That's
it
john.
Thank
you
for
continuing
to
teach
us
about
the
town
financial
statements.
I
think
every
session
we
have
goes
in
that
direction.
I
think
I
heard
you
say
that
your
forecast
for
fiscal
year,
22
revenue,
is
a
little
above
budget
and
your
forecast
for
expenses
are
at
budgets.
There's
really
no
surprises.