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St. Croix County finance report shows temporary $3 million shortfall tied to fund transfers
Summary
Finance staff reported a $3,000,007.21 year-to-date deficit driven by a fund-balance transfer for KIPP and $4 million in debt service, while departments overall remain near or in the black and October sales tax receipts were nearly $1.5 million.
Dustin, a county finance staff member, presented the committee with the 10-month financial report. He said the county shows a year-to-date deficit of $3,000,007.21, which he attributed to a fund-balance transfer related to KIPP and $4,000,000 in debt-service payments.
Dustin told supervisors that most departments are tracking close to or in the black and highlighted that October sales-tax receipts were about $1,500,000, which aligns with the county's higher revenue expectations going into 2025 and 2026.
No supervisors raised substantive questions about the figures during the presentation, and the committee moved on to other agenda items.
