Oktibbeha County adopts balanced FY2025–26 budget, approves escrow and closing agreements tied to hospital sale

The Oktibbeha County Board of Supervisors adopted the county's fiscal year 2025–26 budget and corresponding ad valorem tax levies and approved several escrow and closing-related agreements tied to the pending sale of Oktibbeha County Hospital.

County Administrator Wayne Cox told the board the proposed fiscal year 2025–26 budget "is a balanced budget, with both revenue and cash sufficient to cover the anticipated expenditures for the coming fiscal year." Cox also said overall projected revenue falls versus the current year, a decline he attributed primarily to the conclusion of ARPA and other one-time grants used in FY2025.

The budget package the board approved includes: adoption of the FY2025–26 budget and the presented ad valorem levies; approval of a third‑party administrator agreement to manage tort-claims escrow funds; approval of an accounts‑receivable escrow agreement tied to the hospital sale; a memorandum of understanding to enable transfer of participation in a federal drug-pricing program; and authorization to open two separate checking accounts to hold the tort-claims escrow and a health-insurance runout escrow.

Why it matters: the board tied several urgent transaction approvals to the anticipated closing on Oktibbeha County Hospital. County staff said the closing could produce a significant net proceeds transfer that will require separate holding accounts and legal oversight before funds are released.

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