Apr
27
2010
What Was Money?
Author: randalwallaceEvery year the city of Myrtle Beach goes through the budget cycle figuring up what we can and can not do and how we are to allocate money. This year will be the toughest in the time I have been on council. The City has had to make tough calls in the services and other things that had to be cut or toned down. In the end, I think it is a testament to the sound financial management of the city under Manager Tom Leath and the City Budget Director Mike Shelton that the situation is as good as it is.
If all stays as it is, the current level of service will stay as it is, with no new things added. In order to make this happen we have to say no pay plan increases, suspend the 3% merit pay, hold health insurance premiums at the previous level, and suspend the educational reimbursement program. However, we have not made any cutbacks to current positions, no job losses.
We will not be filling 14 vacant positions, lengthening our mowing and ground’s maintenance schedules due to doing it in house, our Myrtle’s Market Farmer’s market will be privatized, and we will not be having the July 4th event at the Baseball stadium this year. We will also be keeping our Capital improvement projects to a minimum this year. We will only be doing the basic items to our existing parks and recreation and tourism facilities.
There will be some minor fee increases in instructional and recreational programs. A rise in the storm water fee of .75 cents and a 5% increase in solid waste. The millage rate will be 57.1 for operations and a 7.3 mills for debt service. All in all I think it is not to bad considering the size of the worldwide economic slowdown.
I think I am proudest of how well the city finances were run during the big boom years. It was this sound conservative management that has led us to being able to weather this storm as well as we have. This speaks to the sound judgement of planning for a downturn that always eventually happens. That is the nature of economics, it runs in cycles, and by good budgeting, when times are good you can stay in front of things when times get tough. We shall see what happens as you know things are always subject to change before second reading.
For the Record the title was lifted from Mike Shelton’s Budget Presentation at Pinapolis.