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Town Hall will close on Friday, May 27th at 2pm in observance of Memorial Day. Town Hall will re-open on Tuesday, May 31st at 8am. All essential first responder services will remain fully staffed. Regular trash pickup will occur on Wednesday, June 1st and Saturday, June 4th. Bulk pickup, yard debris and recycling will be collected on Thursday, June 2nd.  

Attention Residents! 
In September 2022 several seats on various Boards and Commissions will expire. Residents are encouraged to participate in the community through a three-year commitment to one of the various Boards or Commission. Click here to view available seats and applications. For further information on the function of each Board or Commission contact Andy Benke abenke@sullivansisland.sc.gov; Joe Henderson jhenderson@sullivansisland.sc.gov or Charles Drayton cdrayton@sullivansisland.sc.gov.

Financial Reports

The Town’s fiscal year starts on July 1st. Each year, the Town Council is required, by the State Code, to pass a balanced budget by June 30th, for the upcoming year. At the end of each fiscal year, an audit is performed on the Town’s financial statements. We have made available the annual audited financial statements, the annual budgets and the monthly financial reports.

Installment Purchase Revenue Bond- Series 2020

Town Council is preparing to issue its Installment Purchase Revenue Bonds, Series 2020 (the “Series 2020 IPRBs) to finance approximately $20 million of improvements to various Town owned facilities and infrastructure.  The Town plans to repay the Series 2020 IPRBs over a 25-year approximately level debt service basis. Click here to read the Installment Purchase Revenue Bond Series 2020 presentation by the Town Financial Advisor David Cheatwood of First Tryon Advisors. Based on the estimated current market rates, the annual debt service would be approximately $1.16 million/year and the all-in true interest cost is approximately 2.98%. As part of the financing process, the Series 2020 IPRBs were rated “As2” from Moody’s and “AA” from Standard and Poor’s. Click here to view the Moody’s rating letter; and, click here to view the Standard and Poor’s rating letter.    

On March 17, 2020, the Town will issue approximately seventeen million dollars ($17,000,000.00) of Installment Purchase Revenue Bonds through Wells Fargo.  Parties interested in purchasing bonds in the primary market should contact a Wells Fargo broker at 1-800-891-7702. For purchasing bonds in the secondary market, interested parties should task their broker to find those on the open market.  

Public Notice to adopt 2022-2023 Town Budget (PDF)

Fiscal Year 2022 Budgets

Fiscal Year 2022 Municipal Budget (PDF)

Fiscal Year 2020 Audited Financial Statement

Fiscal Year 2021 Audited Financial Statements (PDF)
Fiscal Year 2021 Financial Audit Presentation (PDF)Presented to Town Council by Greene Finney, LLP
 

Monthly Financial Reports

Each month, the Town's Comptroller presents our monthly financial reports to Town Council. You can access all of the monthly reports by visiting the Archived Financial Reports page.