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County finance staff warn Road Fund spending will ramp up later this year amid delayed state fuel-tax deposits
Summary
Cowlitz County finance staff told commissioners the Road Fund has a $17.3 million beginning balance earmarked for capital projects, that state motor-vehicle fuel tax deposits have been delayed, and that major projects such as Cloverdale and Tower Road Bridge are expected to draw down reserves later in the year.
Susie, finance manager, told the Cowlitz County Board of Commissioners that the Road Fund has a $15,700,000 budget for tax revenue and a beginning unreserved balance of about $17,300,000 that is largely earmarked for capital projects.
The county has collected about $8.8 million of property-tax receipts so far, and intergovernmental receipts — budgeted at $20.3 million — are behind expectations. “Included in this line item is the motor vehicle fuel tax. So we learned that, the state is having system issues. So they’ve been depositing roughly half of our motor vehicle fuel tax revenue,” Susie said.
The shortfall is expected to correct when…
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