February 5, 2013 Budget Discussion

Budget discussion was held on February 5, 2013. Several actions by the Board of Supervisors resulted in the County actually reducing the total tax asking by $39,863 below the current FY 2013 tax asking.

Following are those decisions:

  1. The two health insurance holidays that were put back into cash reserves were used to reduce tax askings. They amounted to General Basic $671,615, General Supplemental $101,600 and Rural Basic $25,879 for a total tax reduction of $799.094.
  2. L.O.S.T. funds were used to fund the Economic Development Department in the amount of $181,721 in the General Basic Fund and the Planning and Zoning Department in the amount of $103,169, in the Rural Basic Funds of which both actions reduced tax askings.
  3. Riverboat funds were used to reduce tax askings in two area’s (a) non-mandated services ($74,971) in the General Basic Fund, (b) equipment replacement in the amount of $167,500.
  4. The Board of Supervisors will use a $50,000 refund check from the Woodbury Solid Waste Agency to reduce taxes in the Rural Basic.
  5. Final action was the decision to use $245,207 of the Rural Basic Fund to reduce tax askings.

All of these actions decreased tax askings by $1,454,162. Other action included keeping the $1,300,000 CIP for bridges in the County budget. Also the County will use an essential purpose loan for the County’s CIP Projects in FY 2014. The good news here is the interest rate will be 1.29%. Final budget decisions will be made at the February 12th board meeting. At that meeting, the Board will approve the FY 2014 budget to be published with the hearing date March 12, 2013. At the public hearing, the budget can be accepted or reduced, but cannot be increased.