SEA ISLE CITY – Sea Isle City Council adopted the 2023 municipal budget March 28. The $28.5 million current fund operating budget calls for no increase in the local purpose property tax rate.
The budget also contains a $10.3 million water and sewer utility budget which will not require any increase in user fees.
Both budgets made use of greater surplus funds than in 2022. Two-thirds of the current fund budget relies on tax income, with the remainder of the projected income coming from surplus and local revenues.
The largest contributor to local revenues is beach fees at $1.4 million. The water sewer utility is 80% dependent on user fees, with the remainder of the revenue coming from the use of surplus.
The city’s current fund surplus at the beginning of the year stood at $8.7 million. Debt service was budgeted at $5.9 million or 20% of current fund appropriations. The debt service includes school purposes.
The water and sewer utility’s largest single expense is payment to the county Municipal Utilities Authority (MUA), which consumes just over 40% of city utility revenue.
No member of the public spoke during the public hearing on the budget.
