Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Jefferson County budget shortfall slows decision on 3% COLA; commissioners ask for revenue reconciliation
Summary
County finance staff presented budget scenarios with and without a 3% cost-of-living adjustment; commissioners were told current projections show roughly $21 million in revenue against a $32 million budget and agreed to reconcile revenues and carry-forward before deciding on COLA.
Jefferson County finance staff presented updated budget information to commissioners on Aug. 5, showing projected revenue estimates and two scenarios for the coming year — one with a 3% cost-of-living adjustment (COLA) and one without.
Staff described the county’s current budget figures and revenue projections, citing a projected revenue figure of about $21,000,000 for 2024 and noting the presented budget near $32,000,000. Commissioners and staff worked through line items, new-construction estimates and taxable-assessment factors; staff reported new-construction taxable value figures and discussed how those figures feed the revenue estimate.
Commissioners and staff identified an estimated gap that, after accounting for anticipated additional receipts (including road and bridge revenues and new construction), could leave the county roughly $900,000 to $1,200,000 short of a balanced budget if a 3% COLA is included. Board members asked staff to produce a current cash statement for each fund, reconcile revenue timing and verify estimated tax receipts before adopting a final budget or approving the COLA. The board scheduled a budget hearing for Aug. 26 and asked staff to provide reconciled revenue estimates in advance.
No formal action to adopt the COLA was taken at the meeting; commissioners agreed to reconvene with more precise revenue numbers before moving forward.
