Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the County Finance topic
No spam. Unsubscribe anytime.
Finance director warns of shortfalls; commissioners set tax due date and authorize TAN RFP
Summary
Finance Director Lindsay Kay warned of potential short-funded budgets and recommended reserve accounts funded from 2024 undesignated funds; commissioners set the municipal tax due date as Sept. 1 with a 7% late interest rate and authorized an RFP for a tax anticipation note up to $5 million.
Finance Director Lindsay Kay informed the board of revenue shortfalls that could create funding pressure and recommended cost savings this year, particularly in the sheriff's salary lines given anticipated leaves that may increase overtime. Kay proposed creating reserve accounts using 2024 undesignated funds: a $500,000 county credit reserve; $200,000 jail credit reserve; $100,000 county facility reserve; and $100,000 jail capital reserve.
The commissioners set the 2026 municipal tax due date for Sept. 1 and established a late-payment interest rate of 7 percent. They also authorized staff to issue an RFP for a tax anticipation note (TAN) for up to $5 million to manage cash flow. No vote tallies were recorded in the minutes; the document notes that unless otherwise stated, votes were unanimous.
