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City to hold public hearing for FY 2015-2016 budget
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Camden City Council will hold a public hearing to discuss its proposed budget for Fiscal Year (FY) 2015, which starts July 1. The budget is comprised of five separate revenue sources to be funded as follows: • General Fund, which is funded by ad valorem taxes on real estate and personal property and pays for the city’s day-to-day activities, including administrative and operating expenses. • Project Improvement Fund, also funded by real estate and personal property taxes and pays for special projects, grant fund matches, and capital improvements. • Paving Fund, also funded through real estate and personal property taxes and pays for paving and associated projects. • Utility Fund, which provides electric, water, and wastewater activities. • Local Source Revenue Fund, which is funded by a 2 percent hospitality tax on prepared food and beverages, accommodations taxes levied on hotel stays and permit fees for Sunday alcohol sales. This fund is used for the express purpose of promoting, maintaining and advancing tourism.

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