Operating Budget
After the recession, the TSP operating budget increased commensurate with the tax revenue and reflected a 131% increase from 2011 to 2023. Under Commissioner Fender’s 8 years, spending has increased by 52.8% or 6.6% per annum (from $2,272,200 to $3,473,345) while Commissioner Mayfield’s time on the commission reflects a 39.9%% increase and Commissioner Tompeck has approved budget increases of 20.6% during his tenure. Inflation averaged 3.45% during the eight-year period from 2017-2024; 4.26% from 2020-2024 and 5.03% from 2021-2024. Our expenses exceeded the rate of inflation.
Although the commissioners tout our low tax rates compared to other communities, it should be noted that Sewall's Point is the only community to increase taxes as property values rose. Have we seen an appreciable difference in public services?
Capital Budget
The current commission has approved a capital improvement plan of $79.7M for the next five years. Of which, $1.96M (2.4%) is devoted to maintaining our current infrastructure. Current and projected funding is $25.5 M (32.0%), which leaves a tremendous shortfall of $54M.
In 2017, the commission approved a five-year Capital Improvement Plan to run from 2018-2022 which totaled $6,189,205. 100% of this plan was to maintain our existing infrastructure.
How did we go from six million dollars to $79.7 million in seven years?
Grant money! The Commission hired a planner, who replaced the Citizen Planning Committee, which is in the town charter, and also hired two grant writers to chase federal and state grants.
There has been some success in securing grants, but not $79.7 million dollars-worth of success.
We need to redirect our efforts to maintaining our current infrastructure and undertaking capital improvement projects that are identified as priorities by a citizen Planning Committee, as envisioned by the Town Charter, and not consultants who do not live in or understand the needs of the residents in Sewall's Point.
10 Year Change in Millage Rates Across Municipalities
Sewall's Point spending more than doubled during this period
FYE 2025-2029 Capital Improvement Plan
FYE 2018-2022 Capital Improvement Plan
