Port Royal looks to tap reserves to fix ailing revenue (update: tapped)


Update June 9: The Island Packet is reporting that in the end the town decided to tap about 9% of its reserves as expenses rose.

Blamed most are rising healthcare expenses and ailing revenue from the town's shrimp dock operation.

I'll shoot you over here for the report

First reporting May 20: It looks like Port Royal's business woes continue to persevere, which could lead to them dipping into their reserve funds to help balance their $4.7 million budget.

Port Royal Town Council staff says they will put a hold on capital projects and look at all utility and franchise agreements, property tax collections, business license collections, and personnel costs, among other things, for possible revenue increases and savings, according to The Island Packet, as well as possibly withdrawing up to $100,000 of their $1.07 million fund.

Check out The Island Packet's article here.

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