Correction of Society Hill budget story
Due to incorrect information that we were given, we unfortunately ran a story about Society Hill Town Council passing an unbalanced budget for the 2018-2019 fiscal year. Mayor Tommy Bradshaw provided the News and Press an updated budget that actually shows the town has a surplus of $6,660. The budget showed the town’s total annual revenue as $237,020 while expenditures are $230,360.
Of the town’s revenues, $131,800 will come from intergovernmental revenue items. This includes about $47,000 from the Municipal Association of South Carolina tax collection program, which takes percentages of taxes on insurance, brokerage, and telecommunications businesses and distributes that money to municipal governments. Society Hill’s budget also includes an anticipated $50,000 of revenue from bonds and fines, $33,900 in franchise fees from Duke Energy, Cablevision, and SCE&G.
Society Hill’s expected expenditures include $107,300 for the Police Department (with $62,200 going toward salaries, $11,400 for health insurance, and $10,700 for retirement). All other town expenditures total $123,060, with the biggest costs going toward utilities ($31,000), salaries ($19,500) and accounting, payroll, and audit services ($14,150).
The budget includes a millage increase, raising rates from 63 mills to 66.23 mills, a change of 5.12 percent. Society Hill expects to collect $2,800 in property taxes in the coming fiscal year, and $5,700 through the homestead tax.
Mayor Tommy Bradshaw and Council members Tammy Gandy and Deborah Harrell all voted to approve the budget as presented. Council members Carolyn Oliver and Michelle Steen were not present at this meeting.
The new budgets are in effect from July 1, 2018 to June 30, 2019.