Getting your Trinity Audio player ready...

At their January 13 meeting, Kill Devil Hills commissioners heard the results from the annual audit from CPA Emily Mills of Potter & Company, receiving an unmodified or “clean” report, which is the highest report that can be given. Mills found no deficiencies or material weaknesses in the town’s financial documents.

Kill Devil Hills assistant finance director Sam Angelo presented a summary of town’s financial operations. Total revenues for fiscal year 2023-24 equaled $25,866, with the majority of revenues from ad valorem taxes ($11,608,762) and “other taxes and licenses” ($9,845,662).

Ad valorem taxes are based on each $100 valuation of assessed property (homes, vehicles, boats, etc.). The townwide tax rate for fiscal year 2023-24 increased by 3.5 cents for a total tax rate of 35.5 cents per $100 valuation. Property owners living within a municipal service district were charged an additional 24 cents. These increases led to a total increase of 12.2% in ad valorem tax revenues for the town, from $10.3 million in FY 2022-23 to $11.6 million in FY 2023-24. There are no increases for FY 2024-25.

“Other taxes and licenses” are made up primarily from three taxes: sales tax, occupancy tax (lodging tax on short-term stay rentals), and, to a lesser degree, land transfer tax.

“We’ve maintained a very healthy sales tax and occupancy tax,” said Angelo.

Expenses for the fiscal year were just over $24 million. Major expenses include $8.4 million for public safety, $6.4 million for general government, $4.4 million for environmental protection, and around $2 million for both transportation and debt service.

Capital projects for the year were for finishing touches to Meekins Park, improvements to Aviation Park including new lights for the hockey rink, a new fire station, and street improvement projects, particularly to Wrightsville Blvd.

The fund balance in the General Fund, which Angelo described as the accumulation of what’s left over every year, totals $34.7 million. This is a combination of assigned and unassigned cash, assets and savings.

There are special savings accounts for various projects like beach nourishment, shoreline access, recreational facilities, sidewalks and multiuse paths, and other street improvements.

Commissioners also approved an increase to the voluntary residential curbside recycling program requested by Bay Disposal. Due to rising operational costs, the company is requested a 6.5% increase, from $13.99 per cart, per month ($41.98 per quarter) to $14.83 per cart, per month ($44.50 per quarter).

Kill Devil Hills is gearing up for its annual Trash Attack, a community-wide trash pickup event. For 2025, Trash Attack is scheduled for Saturday, April 5 from 9 a.m. to noon at Aviation Park, with a rain date of Sunday, April 6 from 1 to 3 p.m.

READ ABOUT MORE NEWS HERE.

SUBSCRIBE TO THE COASTLAND TIMES TODAY!