Richland County approves $50 million budget after reshuffling inside millage for debt and capital
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Summary
The Richland County Board of Commissioners on Dec. 9 approved a balanced $50 million budget, reallocating portions of inside millage to retire jail debt and fund capital projects while restoring 0.41 mills to general revenue.
The Richland County Board of Commissioners approved a balanced $50,000,000 budget on Dec. 9, adopting adjustments to inside millage intended to pay annual jail debt service and to create a dedicated capital funding stream.
Commissioner Tony Vero told the board the change followed conversations with bond counsel and the county auditor and said the board would dedicate 0.18 mills to the jail debt fund and 0.21 mills to the Richland Reinvestment (capital) Fund, while allowing 0.41 mills to return to general fund revenue. The board approved the related resolutions by roll call.
Why it matters: commissioners said the millage changes were intended to keep debt service sustainable while setting aside recurring revenue for capital maintenance and projects. County staff and bond counsel presented the reallocation as necessary to remain within statutory and bond covenant limits for reserves and balances.
The board discussed revenue assumptions before the vote, including a sales-tax projection and higher-than-anticipated casino tax receipts in the current year, and directed most of any significant surplus toward replenishing capital balances. Finance staff and the county administrator confirmed the revised revenue figures and the board voted to adopt the budget.
The budget passed by roll-call vote; commissioners present voted in favor. The board said it will continue to monitor revenue performance and return surpluses to capital funds as possible.
The board closed the business day after approving the budget and adjourned.
