OCEAN CITY — Ocean City officials this week unveiled the proposed fiscal year 2017 budget at around $122 million including a modest tax cut for resort property owners.
City Manager Doug Miller, who is presiding over his first budget process since taking over the position this winter, and Budget Manager Jennie Knapp outlined the proposed $122 million budget on Tuesday.
“I’m very excited and pleased to present the fiscal year 2017 budget,” said Miller. “The product before you is very well vetted and it’s a balanced budget. It includes an estimate of anticipated revenue and expenditures. It’s important to emphasize ‘estimate’ because there is no way to forecast some of these things when the process starts 18 months out.”
The total budget for all funds is just over $122 million with the general fund making up around $80.9 million, representing an increase of about $1.172 million over fiscal year 2016, or about 1.5 percent.
“This is the single most important thing we do,” he said. “It’s where we implement the town’s priorities for the next 12 to 18 months. There are five goals in the strategic plan and this budget supports those goals.”