The account for everyday town services finished 2025 with $3.83 million more left over than it started with. This includes money moved into the account and other ways the town raised money. Source
Total left in this account: $28,832,956. Some is tied up or needed for other purposes; it is not all cash the town can spend freely. SourceMoney · July 2026 – June 2027More money left over in 2025 Using savings this year The audit found problems2 problems July 2024–June 2025 · latest audited year on this site 
Local reporting
Local reporting
The town budget
Everyday services · approved yearly budget
This account is called the General Fund. Water, sewer and some other services have separate budgets. Source
Approved budget Monthly report archive 2024–25 independent financial audit Source checked September 28, 2026
Ask OKI about the budget
The short version
The town plans to use $3.09 million of money saved from earlier years to help pay for this year’s services. It has not necessarily spent that money yet. Source
When the town replaced an old sewer loan with a new one, it did not update its budget or record the change correctly. Source
The auditor accepted the final accounts but flagged these two problems. We have not confirmed whether the town has fixed them. SourceWhere the budget goes
Fire
Fire protection has the largest department budget shown here—about $24 of every $100 in the General Fund. The fire property-tax line helps fund this service. Source
Budgeted · not payments madePlanned improvements
SourceExplore selected estimates in the five-year capital plan. These are planning figures, not contracts or payments.
What the town is paying back
Loans spread the cost of large purchases over several years. They also add interest. These records explain what the loans bought; they do not establish that the town could not afford to pay upfront.
Wastewater system
Borrowing financed wastewater-system improvements. The 2025 bonds refinanced the earlier 2015 bonds; refinancing replaces existing debt rather than funding a second copy of the project. Source
Repayments are planned in the separate wastewater account. The schedule shows what is due, not payments already made.
Scheduled this year
Amount paying down the loan
Borrowing cost in this payment
● Paying down the loan● Interest · cost of borrowing
See each loan and future payments
2025 refinancing bonds
$3,401,750$2,160,000 paying down the loan + $1,241,750 interest · this year2017 revenue bonds
$2,778,181$1,940,000 paying down the loan + $838,181 interest · this yearState revolving loan · first allocation
$464,648$436,804 paying down the loan + $27,844 interest · this yearState revolving loan · second allocation
$419,233$380,101 paying down the loan + $39,132 interest · this yearAnnual payments ahead
2026–27: $7,063,812
Project costs reported in 2026
Published figures · cost basis variesProject records updated or checked in 2026, highest cost first. These can be total project costs, not just spending during 2026–27; the source does not consistently identify the cost basis.
2026 street paving
August 18, 2026Under constructionSourceCrowell Street drainage
May 2026CompletedSourceCommercial sidewalks · Phase I
March 5, 2026CompletedSourceOak Island Pier repairs
May 7, 2026CompletedSourceLast Year's Spending (2025)
What the main services fund spent, compared with its final budget. Explore all 15 spending areas. Water, wastewater and other funds are separate. Source
Final budget
Spent
Below budget overall
Fire
Budget
Spent
$49,566 over budget · 101.3% used Source
What drove the overrun?
Operating costs were $110,901 above budget. Salaries and benefits were $27,805 below budget, and equipment and other major purchases were $33,530 below. Those lower costs partly offset the increase, leaving Fire $49,566 over budget overall. Source
- Operating costs$110,901 over
- Salaries & benefits$27,805 below
- Equipment & other major purchases$33,530 below
This audit schedule does not identify the individual expenses or explain why operating costs rose. We cannot tell from these totals whether the extra spending was avoidable.
Which expenses went over budget
Some individual lines went over even where the whole department stayed within budget. These amounts overlap; do not add them together.
Fire department total
$49,566 overIncludes operating costs $110,901 above their line budget, partly offset by lower salaries and equipment spending. Source
Police operating costs
$60,366 overPolice stayed $45,837 below its total department budget. Source
Fleet operating costs
$6,761 overFleet stayed $450,118 below its total department budget. Source
Transfers to other funds
$5,839 overTransfers were $5,839 above plan. They are reported separately from the department spending totals above. Source
Loan principal payments
$9,015 overInterest was $9,015 below budget, so total loan payments matched the budget. Source
Local reporting
Local reportingWhat was in the proposed 2026–27 budget
Coverage of the May budget proposal, including utility charges and public-safety spending. Use the adopted budget for final figures.
Read at Port City Daily ↗Local reportingThe 2025 parking-season report
Coverage of the parking operator’s annual presentation. These figures describe the 2025 program, not 2026 receipts.
Read at Port City Daily ↗