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St. Croix County reviews November finances; liability-insurance costs flagged
Summary
Finance director reported September tax collections dropped from about $1.4 million to $850,000 and supervisors warned liability-insurance premiums have increased, leaving the liability fund balance drawn down this year.
St. Croix County finance director Dustin told the administration committee the county is 11 months into the fiscal year and that September tax collections fell “from 1,400,000.0 to about 850,000.”
The drop is notable in the county’s tax receipts but Dustin said the county has one month left in the fiscal year and will monitor whether October’s collections reverse the dip.
Supervisor Fielder flagged insurance as a pressing concern. “We’re over by a couple 100,000 right now,” Fielder said, noting the county has seen “10 to 30% increases in premiums the last few years,” which has reduced the reserved amount available to cover liabilities. Fielder said this year is “a higher year for expenses” and that the liability-insurance fund balance is being drawn down.
Committee members asked for no formal action at the meeting but discussed keeping the trend under review as the board completes year-end closing. No follow-up motion or vote was recorded on the financial report itself.
The committee moved on without scheduling immediate policy changes; staff will continue tracking receipts and insurance costs and report back as needed at future meetings.
