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Finance director explains 'cap bank' resolution as recurring budget tool; details on eligible amounts
2812868 · March 28, 2025
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Summary
Director Taylor told commissioners the cap bank is a financial-management mechanism counties use annually to bank unused tax-levy capacity; Taylor said Union County is eligible to bank roughly $14 million under a 1977 cap and $24 million under a 2010 test, and that the bank must be adopted annually.
Director Taylor of the Department of Finance explained a proposed resolution to establish a cap bank, a routine financial-management tool counties use to preserve unused tax-levy capacity.
Taylor said the county must compare two different statutory tax-levy tests (a 1977 cap and…
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