COUNTY’S FUND BALANCE DEPLETED; TAX HIKE PROPOSED
Three critical county budget projections, totaling approximately one million dollars, have depleted the county’s fund balance. The budget miscues mean the county’s Budget and Finance Committee is set to recommend a 59 cent property tax increase in order to fund the 2019-2020 fiscal year budget which is set to be approved this month. The county budget miscues include an error in the estimated fund balance for the 2018-2019 fiscal year budget ending June 30 and an over estimation of two sources of revenues.
Commissioners approved a 2018-2019 fiscal year budget in June of last year, with a starting fund balance of slightly more than one million dollars. Near the end of 2018, county officials were notified by state auditors the county’s starting fund balance was off by $434,786. This meant instead of the county beginning the 2018-2019 fiscal year budget with a more than one million dollar fund balance it was actually $647,749. In addition, in recent months, county officials have discovered two sources of revenue for the county were over estimated by approximately $600,000.
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