Ocean City Today

Fiscal 2018 budget general fund final figures reconciled

Council approves updates to prepare with upcoming 2019 work in next months
By Greg Ellison | Feb 01, 2018

(Feb. 2, 2018) With the next budget year quickly approaching, the Ocean City Council reviewed a fiscal year 2018 budget amendment reflecting an overall general fund adjustment of more than $2.5 million.

City Manager Doug Miller told the council at its work session on Tuesday that the amendment process provides an opportunity to report changes since initial budget adoption.

“In preparation for this amendment, all revenue and expenditure line items were reviewed and adjusted to prepare for the FY 19 budget process,” he said.

Budget Manager Jennie Knapp said the amendment re-appropriates funding for prior year purchase orders, and projects that were funded but not completed.

“The budget amendment puts in ordinance form changes since the budget was adopted,” she said.

Changes on the revenue side included more than $1.9 million in appropriated fund balance, as well as $100,000 increase in corporate property taxes.

Knapp also noted the amendment does not change property tax rates.

Included on the expenditure side was more than  $890,000 for updated parking systems and nearly half a million dollars in advertising costs.

The city also received more than $356,000 for a highway user fund grant, which was transferred from the general fund to the capital projects fund for street paving projects.

In total, the fiscal 18 budget dedicated more than $2.5 million for street paving, deriving approximately $820,000 from fund balance and more than $1.3 million through a combination of casino revenue, highway user fees and parking revenue.

The council voted to schedule a first reading for the fiscal 2018 budget amendment for its formal meeting on Feb. 5.


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