What is a consolidated budget?

The consolidated budget represents the revenues and expenditures for all the funds that report financial activity of City transactions. These funds include the General Fund, the Special Revenue Funds (Parks and Tourism Fund, Stormwater Fund, American Rescue Plan Act Fund, State Accommodations Tax Fund, Tax Increment Financing II Fund, and Fire Impact Fees Fund), and the Capital Projects Fund that are combined for the fiscal year consolidated budget.  

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1. What is a consolidated budget?
2. What is the time frame for the budget?
3. How are budgets approved?
4. What is the General Fund?
5. What are the other funds that are part of the consolidated budget?
6. From what sources does Beaufort derive its revenues?
7. Explain millage and how that works.
8. How does Beaufort pay for its big capital projects?
9. How does Beaufort decide to prioritize capital projects?
10. What kind of debt service does Beaufort maintain?
11. I heard that the City plans to seek revenue bonds to pay for projects at Southside Park and Washington Street Park. Will this increase my property taxes?
12. What is the City’s bond ratings and how does that impact borrowing rates?
13. Does Beaufort maintain reserves?
14. How does Beaufort decide if its salary structure is competitive?
15. How does Beaufort decide on annual raises?