The town budget is in good shape considering the impacts of COVID-19, said interim Dewey Beach Town Manager Jim Dedes at the Dec. 11 commissioners meeting.
Dedes said he has dismissed the worst-case COVID budget scenarios.
“We’re not there; I don't think we're going to be there,” he said. “I think that we’re going to be coming close to meeting budget this year if things continue, but we're going to have to take it month to month.”
November’s actual revenues of $246,000 exceeded the expected $167,000 revenues, mainly due to transfer tax, Dedes said. At $220,000, actual expenses are just $331 more than expected, he added.
Year-to-date revenue is also ahead $28,000; actual revenue is $3.014 million, above the expected $2.986 million. Year-to-date expenses are under budget by $142,000; actual expenses are $2.478 million compared to expected expenses of $2.620 million.
Year-to-date set-asides are also ahead, Dedes said; expected was $110,000 and actual was $129,000, also because of transfer tax revenues. Accounting Clerk Sheena Gossett said the town is set to exceed $1 million in transfer tax revenue for the year.
Based on revenues, including another expected $80,000-$90,000 in transfer tax for December, Dedes anticipates the town budget will have a slight deficit of $30,000-$50,000 by the end of the fiscal year.