County budget explained

Posted By | August 30, 2005 12:00 am

Kim Swindell Wood
Objections to a property tax increase have been heard loud and clear throughout White County, and officials want residents to understand why this step was necessary.
Jerry Denton, White County budget chairman, said “it was a must” that county commissioners increase the property tax for the upcoming fiscal year.
Last year’s property tax was $2.21 per $100 of assessed property value. Commissioners voted in August to approve a property tax rate of $2.28. The additional 7 cents will go into the county’s debt service. However, many taxpayers are confused about how much they will be paying. (See chart at end of story.)
“What we’ve been doing is basically using up where we had accumulated a fund balance,” said Farley, “and that fund balance was getting down [decreasing], and it was time to start tapering it off.”
Farley said 1 cent of property tax generates $27,300.
“Before the interest rate dropped, the county was funding debt service through the interest off the investments of the reserve funds,” said Denton.
According to Denton, interest rates dropped, which adversely affected the county. Farley said White County had been receiving approximately $900,000 in interest income before the decrease in increase rates. Then, in fiscal year 2003-2004, the interest income dropped to less than $200,000 because of the decrease in interest rates.
“Of course, interest rates have been down, and we haven’t been getting money in, but our interest payments have been down, also,” said Farley. “We probably paid out about $1.4 million or $1.5 million last year. We had about $200,000 there we didn’t have to pay in interest. We’re taking what money we saved last year and paying that on our capital outlay notes and trying to get out from under them.”
Denton said long-range planning is a key factor in maintaining an equitable budget. However, Denton and Farley both said no one involved in previous county budgetary processes could have predicted the extreme drop in interest rates, which led to a decrease in funds for the county budget.
“To be honest, we could have made it one more year [without a tax increase], but then you’d really been hit,” said Farley.
“We’d have been at the point of being insolvent within a couple of years,” said Denton.
Denton said his statement was a “scary thing to throw out there,” but he said the people of White County needed to be informed about the financial status of their governmental entities.
“We’re not buying anything new, and we’re not spending any money,” said Denton. “We’re trying to reduce the debt. We went two or three years without a tax rate increase and inflation went on.”
However, Farley has been looking ahead and believes there were some positive steps made when planning the 2005-2006 county budget.
“We’re moving in the direction to hopefully, in the next couple of years, offer benefits,” said Farley, “and I know a lot of people say, ‘Why should my tax dollars pay somebody else’s insurance?’ You can’t look at it as simply providing insurance for your employees. You’re upping the level of employee that you have. I truly believe – the more I look at it the more I’m convinced – if we get to the point where we can provide a benefit package, we’ll be able to hire a better employee, keep that better employee and in the end provide a better service to the community.”
Denton said White County has spent thousands of dollars training deputies and correction officers who have eventually gone to work for other counties, because they were able to obtain benefits at the new job. He said the money spent on training “could have gone a long way on benefits.”
“The ones we’re fighting to give insurance to, they don’t have normal jobs,” said Farley. “Our officers put on bullet proof vests to go to work. Nobody else in the county does. Our landfill operators – if people think they’re overpaid and shouldn’t have insurance, go down there and see the needles sticking up and see the stuff they have to trudge through. They [taxpayers] ought to be proud that they have somebody willing to do that.”
White County is the largest employer in the county. According to Farley, the school system, by itself, has 550 employees, in addition to governmental offices.
“With the money going into debt service, they’ve [taxpayers] got something there they can see,” said Farley, “They’re going to see that new library go up before too long. That’s part of that 7 cents. You’ve got the justice center. That’s part of that 7 cents. You’ve got the new schools. That’s all integrated into debt service.”
Denton also wanted to clear up any misunderstanding about the county refinancing its debt specifically to fund the new library. Many White Countians had thought the only reason for refinancing the debt was to fund the new library. However, Farley said the county’s debt would have had to be refinanced with or without the new library. He said debt payments would have been exorbitant and would have “destroyed” debt service. Therefore, refinancing was necessary.
Commissioners recently approved a jailer’s fee that is earmarked for debt service. Misdemeanor inmates will be charged $30 per 24-hour period of time they spend in jail.

No comments yet.

The comments are closed.

© Copyright 2020 | Sparta Live

vape: zenith vape novo ecig battery safety vape uwell crown ss temp control vape juice shops smok alien champagne gold ar15 vape mod vaping coil wire uk vape shop tfv8 beast coils dick ecig nectar stick vaping making me wheeze smok tfv8 baby rba vaoe mods dripping mod kangertech topbox mini coils dripper ecig aspire skystar review can you vape weed how to reset voopoo mojo uwell valyrian vs tfv8

male enhancement: how to get your libido back male how much is a viagra pill at walmart vacuum penile pump why a spouse sex drive is low male training device sex drive lower with girlfriend than last time rush performance enhancement non surgical penis growth male enhancement pills cost best male enhancement pills to last longer gay penis growth magic stories how to raise my libido male puberty late penis growth cock pill does zoloft increase sex drive in men extension surgery low sex drive pcos pregnancy hormones making sex drive lower what can i do interracial sex drive dvd erectile dysfunction pills market viagra 25mg vs 50mg vs 100mg ketogeni diet sex drive

weight loss: webmd food and fitness planner app easy weight loss without dieting jordan lloyd weight loss metformin er vs metformin weight loss vince herbert weight loss whey protein benefits weight loss eiza gonzalez weight loss yoga and weight loss before and after natural weight loss drinks ingredients keto weight loss pills in nepal bioidentical progesterone cream weight loss best at home workout weight loss omni portland weight loss 1 day weight loss fast weight loss transformation rami malik weight loss pills slimquick why does cocaine lead to weight loss successful weight loss bloggers how to pronounce schoen metz weight loss non prescription weight loss heavy bag workout routines for weight loss best food tracking app

cbd oil: cbd jobs medical benefits of cannabinoids cbd oil and ssri cbd yummy cbd in food cbd hemp vs weed sunset cbd reviews how to make cbd oil drops concentrated cbd oil buy cannabis oil for cancer online apex cbd hemp oil claw concentrates cartridge cbd clones california best dose cbd oil for sleep sc cbd only store cbd oil pueblo colorado miracle method phoenix charlottes web cbd salve best cbd oil for weightlifters how to use cannibis oil cbd oil dosage for celiac hemp oil legality

exam: Pass4sure M2050-655 Vce Files With Low Price, 100% Pass LOT-838 New Questions Online Shop, 100% Real SPS-200 Exam Collection With New Discount, Free BH0-004 Ebook Pdf For All Candidates From All Over The World, Most Important 70-549-VB Exam Preparation Online, Prep4sure ML0-320 Sample Questions Latest Version PDF&VCE, Real 920-231 Latest Dumps Online Shop, Most Reliable 920-325 Book Guaranteed Success, Latest Updated 050-663 Actual Test For Each Candidate, Easily To Pass 310-345 Cert Exam With New Discount, Download Latest BE-100W Real Exam Questions Is What You Need To Take,

face mask: n95 mask sanding face shield agv pink clay face mask half face japanese mask face mask at walmart face masks for oily acne prone skin lanocorp lanocreme bee venom face mask how to wear 3m mask n95 can an n95 mask be used if wet is n95 good for smoke surgical mask fashion tough stickming out 1501gn dust mask walmart ski helmets san francisco dust mask fashion how to find the end of life cycle for respirator filters gerson half mask respirator filler 13721 286x allergy mask for mowing nexcare n95 respirator fda approved n95 respirators creative face masks coronavirus bioweapon why does midoriya have a respirator