Outlined below is the City of Beaufort's FY 2005 adopted budget.  The General Fund Budget which totals $10,364,198 represents an increase of less than 1% over the FY 2004 adopted budget.

The Parks and Tourism Budget which totals $1,578,630 represents an increase of less than 3% over the FY 2004 adopted budget. 

This budget also includes a new Recycling Fund totaling $171,000. 

I call to your attention the following highlights:

• This budget does not call for any increase in property taxes or fees.
• This budget provides a 1.9% cost of living adjustment effective July 1, 2004.
• This budget provides $139,568 in contingency funds for unbudgeted expenses.  This amount represents 1.2% of the total General Fund and Parks and Tourism Budgets.
• This budget provides a total of $1,567,570 for Capital expenditures.  Of this amount, $1,045,000 has been set aside for drainage improvements.
• This budget includes funding for 157.5 FTEs including 4.5 new positions.
• This budget includes funding to pay for a 7% increase in health insurance rates, a 45% increase in general liability insurance, and a 5% increase in workers' compensation insurance.
• This budget includes funding for a new safety and loss control program that is designed to make our workplace safer and to help us hold the line on workers' compensation premiums.
• This budget includes funding for a Joint Recycling Program with the Town of Port Royal.

I would like to thank our department heads and City employees for all of their hard work and efforts in support of developing this year's budget.

Sincerely,

John F. McDonough
City Manager