County Officials Discuss Mill Levy Adjustments Amid Budget Challenges

During a recent budget work session, Seward County officials engaged in critical discussions regarding the county's financial planning and mill levy adjustments for the upcoming fiscal year. The meeting highlighted the need for recalibrating budget figures, particularly in light of an overlooked 8.25% interest rate that could impact the county's financial strategy significantly.

One of the key topics was the potential adjustment of the mill levy, with suggestions to consider a reduction from 26 mills to as low as 13 mills. This change could potentially ease the financial burden on residents while still addressing the county's funding needs. Officials discussed the implications of these adjustments, including how much could be cash flowed over the next two years and the necessary accommodations to make this feasible.

The conversation also touched on the county's cash balance, which averages around $37 million, although much of this is not general fund money. Officials noted that while there are substantial funds available, they must be cautious about how these resources are utilized, particularly with specific funds like the Special Highway Fund, which cannot be borrowed against for other uses.

As the county navigates these financial discussions, the implications for residents are clear. Adjusting the mill levy could lead to lower property taxes, while careful management of funds is essential to ensure that the county can meet its obligations without compromising essential services. The commission's ongoing deliberations will play a crucial role in shaping Seward County's financial landscape in the coming years, directly impacting the community's economic health and stability.