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County budget director warns of structural deficit; fund balance could be drawn down without policy changes
Summary
Budget director Travis Woodcock presented a multi-year forecast showing a projected FY25 structural deficit and erosion of reserves over coming years unless expenditures or revenues change; the forecast highlights risks from potential recession, PPRT reductions and higher borrowing costs.
Champaign County’s budget director told the county board that the county faces a structural budget shortfall and that its reserves will shrink unless revenues increase or spending is reduced.
Travis Woodcock presented an unaudited overview of the county’s finances and a multi-year forecast. He said the county’s unreserved general-fund balance at the end of 2024 was about $13 million — roughly 26% of expenditures — above the county’s 16.7% policy minimum and near a recommended 25% target.
Woodcock and board members flagged a set of revenue risks: declines in personal-property replacement tax (PPRT) distributions after a state formula correction, possible…
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