As part of a planned reduction in its fund reserve, the Ocracoke Occupancy Tax Board is accepting applications for capital projects on Ocracoke Island through Sunday, Nov. 11. Applications should be for capital projects that can be implemented during the current fiscal year ending June 30.
The OTB has about $300,000 in its fund reserve that must be spent and is looking to fund capital improvement projects on the island.
These requests for capital projects are in addition to the normal grant requests by island nonprofits for fiscal year 2019 year, which the OTB typically receives in March and April, said Bob Chestnut, OTB board chair in a press release.
All funding requests should be submitted by a qualified non-profit organization or public entity.
Requests should include the following:
- Single page summary of the project identifying the use of funds and amount requested.
- Completed checklist of requested information, including contact info.
- Detailed estimate as to the “use of funds” with a description/itemization of how the funds will be used (specific project) and estimated “line-item costs.”
- Timeline as to when funds will be needed (from November 2018 to June 30, 2019).
- Current (no older than 90 days) balance sheet of the organization that reflects the cash and investment position of the organization to include all assets and liabilities.
- Prior year’s profit and loss statement or cash flow statement (funds in and cash out) that reflects the use of any Occupancy Tax funds (description of use and amount).
- Current budget (profit and loss or cash flow statement) for the year the Occupancy Tax funds are requested to include an explanation (identify by line item) as to the amount of the Occupancy Tax funds requested. The grant request amount should be identified so as to be considered along with other budgeted items of the organization.
- Such other information that the requesting organization feels would benefit the Occupancy Tax Board relative to the request (matching funds issues etc.).
It is not the intent of the Ocracoke Occupancy Tax Board to make the process of applying for funding burdensome, Chestnut said.
“We do need detailed and consistent information from the requesting organizations in order to responsibly fulfill our task of making recommendations for funding to the Hyde County Commissioners,” he said.
Five copies of the request should be submitted. Requests can be mailed to Bob Chestnut, P.O. Box 517, Ocracoke, NC. 27960, or dropped off at Ride The Wind Surf Shop between 10 a.m. and 5 p.m. Monday to Saturday.
Contact Chestnut at 252-921-0231, or by email bob@surfocracoke.com with any questions about the submittal.
The board requests this completed checklist with your grant request:
Single-page summary of request
Name and contact information (Name, phone, email) for organization submitting request.
Description/itemization of how requested funds will be used.
Project timeline showing when funds will be needed and when the project will be completed.
Current balance sheet of organization
Current profit & loss statement of organization
Current budget for the organization for July 1, 2018-June 30, 2019, that includes funds requested from occupancy tax.
