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Sawyer County finance committee approves 2025 levy figure, shifts CIP and approves short-term loan
Summary
The Sawyer County Finance Committee approved a revised 2025 budget and property tax levy, moved several capital purchases into 2025 while delaying a $2.75 million communications bond, and approved a bank loan for CIP financing; staff said the changes reduce near-term debt service by about $177,000.
The Sawyer County Finance Committee voted to adopt the county’s 2025 budget and property tax levy as presented and approved several related capital and financing measures.
Mike, the county finance presenter, told the committee that sales-tax receipts were up in October and that revenue projections remain roughly on pace: "we're just under 3 million projection for the year," he said. He added that, on a raw-data basis, the budget is about 83% through the year and that, when accounting for planned fund-balance draws, revenues are at about 87% and expenses at about 76%.
Why it matters: The committee moved a $2.75 million communications project out of the current borrowing plan and advanced roughly $365,000 in other CIP purchases into 2025 so the county can smooth the mill rate and delay the larger bond until next year. Staff said that delaying the large bond shifts the first debt-service payment into the 2026 budget and reduces this year’s debt-service requirement by about $177,000 compared with the previously presented plan.
Committee members questioned the transit increase and other budget adjustments during discussion. Finance staff said the transit request responded in part to timing and settlement quirks in state reimbursements and ongoing service needs; staff also noted contingency reductions made to cover added transit funding.
The committee approved the revised CIP and also voted to approve a proposed bank loan note for CIP financing as presented. Staff explained an option to work with the county’s depository bank to save on issuance costs and reduce short-term interest, observing a quoted short-term interest example during discussion.
Formally, the committee made a motion to adopt the 2025 county budget and property tax levy as presented; the motion carried after a verbal vote and will proceed to the full County Board for final action.
Next steps: The levy and budget resolution will move to the full County Board and the approved loan documentation will be finalized administratively if the board confirms the committee’s action.
