Questions raised about finances in Atlantic Beach

MYRTLE BEACH, S.C. (AP) — Questions are being raised about finances in Atlantic Beach.

The town’s finance committee is questioning the money that comes into the Horry County town from the annual Bikefest.

Finance manager Calvin Blanton told the committee more than $138,000 from the last half of the 2011 fiscal year is unaccounted for now. Blanton says the motorcycle rally netted the town less than $5,000 that can be accounted for now. He says the Bikefest cost the town $38,000.

Councilwoman Carolyn Cole asked if some of the unaccounted money might be from Bikefest, but Blanton says that’s unclear.

The previous year’s Bikefest raised $80,000, with expenses of $37,000.

The motorcycle rally does not always generate a profit. In 2007, the town took in $31,000 and had expenses of $120,000.