(Jan. 26, 2017) Plenty of work still has to be done, but several Ocean Pines Association directors said the budget introduction meeting last week was a productive one.
Interim General Manager Brett Hill released details of his $13.5 million fiscal year 2017-2018 budget earlier this month, and briefed the entire board on the package last Friday.
The basic annual assessment – at least in the first draft – remained flat at $921.
Board President Tom Herrick, in an interview on Monday, said there were some concerns during the meeting about reserve funding, increasing payroll expenses and revenue estimates for the yacht club and beach club, which were projected to increase $394,485 and $200,670, respectively.
“I think that was an issue [as was] the increase in salaries and benefits,” Herrick said. “I believe that was a concern.”
Board Vice President Dave Stevens agreed the increase in revenues were a worry.
“I think there was also a concern – or at least there was a discussion – about the amount of money going into the reserve,” Stevens said. “I think more information needs to be considered, but I don’t think there were any highly contentious issues.”
Overall reserve contributions would decrease 12 percent in Hill’s plan, in part because the legacy fund – also known as the “five-year funding tool” – would be eliminated.
“I need a little more work on that,” Stevens said. “It has been cut, but on the other hand, which I expected, more money is being added to the historical reserve as a result – significantly more. Are we just doing it a different way? I’m pretty convinced no – that we have eliminated that and we’re moving in a better direction. But there’s still a lot more discussion that’s going to happen – a lot more.”
Director Cheryl Jacobs added that the meeting was yet another opportunity for board input in what is typically a process that takes several months.
The next public budget discussion is Friday, Jan. 27 at noon in the boardroom inside the administration building on 239 Ocean Parkway.
Hill is scheduled to introduce the budget to the public during a meeting on Friday, Feb. 10 at 10 a.m. in the Assateague Room inside the community center, also on 239 Ocean Parkway.
To view the budget draft, visit www.oceanpines.org/wp-content/uploads/2017/01/Budget-Report-1.pdf.
Interim General Manager Brett Hill released details of his $13.5 million fiscal year 2017-2018 budget earlier this month, and briefed the entire board on the package last Friday.
The basic annual assessment – at least in the first draft – remained flat at $921.
Board President Tom Herrick, in an interview on Monday, said there were some concerns during the meeting about reserve funding, increasing payroll expenses and revenue estimates for the yacht club and beach club, which were projected to increase $394,485 and $200,670, respectively.
“I think that was an issue [as was] the increase in salaries and benefits,” Herrick said. “I believe that was a concern.”
Board Vice President Dave Stevens agreed the increase in revenues were a worry.
“I think there was also a concern – or at least there was a discussion – about the amount of money going into the reserve,” Stevens said. “I think more information needs to be considered, but I don’t think there were any highly contentious issues.”
Overall reserve contributions would decrease 12 percent in Hill’s plan, in part because the legacy fund – also known as the “five-year funding tool” – would be eliminated.
“I need a little more work on that,” Stevens said. “It has been cut, but on the other hand, which I expected, more money is being added to the historical reserve as a result – significantly more. Are we just doing it a different way? I’m pretty convinced no – that we have eliminated that and we’re moving in a better direction. But there’s still a lot more discussion that’s going to happen – a lot more.”
Director Cheryl Jacobs added that the meeting was yet another opportunity for board input in what is typically a process that takes several months.
The next public budget discussion is Friday, Jan. 27 at noon in the boardroom inside the administration building on 239 Ocean Parkway.
Hill is scheduled to introduce the budget to the public during a meeting on Friday, Feb. 10 at 10 a.m. in the Assateague Room inside the community center, also on 239 Ocean Parkway.
To view the budget draft, visit www.oceanpines.org/wp-content/uploads/2017/01/Budget-Report-1.pdf.