Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Tax And Reserves topic
No spam. Unsubscribe anytime.
Board considers modest tax-rate increase to restore reserves; finance director says unassigned balance would reach ~17%
Summary
Finance staff explained that the tax-rate change discussed in the session would raise the unassigned fund balance to about 17%; supervisors debated whether to replenish reserves by raising taxes or by balancing to projected revenues and limiting new requests.
Director of Finance Amy Dill told the board that increasing the tax rate discussed in the session (described in the minutes as a '1.6' increase) would put the unassigned fund balance at about 17% and explained how the county uses that fund balance as a placeholder for school requests.
Supervisor Mark Dotson said he preferred starting with a balanced budget based on projected revenues instead of raising taxes to replenish reserves; Supervisor Steve Baker said he was reluctant but understood wanting to ease the burden on citizens. County Administrator Evan Vass noted the Schools may ask for $5.4 million back and that the draft includes a $3 million placeholder.
