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DMCo Budget Not Immune to Falling Revenue, Balances

By on March 6, 2013
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THE FINANCIAL OUTLOOK FOR MANY LOCAL GOVERNMENTS CONTINUES TO BE WEAK…AND DES MOINES COUNTY IS NO EXCEPTION.

IN FACT, IF IT WASN’T FOR 609-THOUSAND DOLLARS IN BONDS NEXT FISCAL YEAR, THE COUNTY’S GENERAL BASIC FUND WOULD BE MORE THAN 244-THOUSAND DOLLARS IN THE RED.  COUNTY BOARD CHAIRMAN TOM BROEKER SAYS THE PROBLEM IS TWO-FOLD:  FALLING FUND BALANCES AND DECLINING REVENUE. 

 

THE COUNTY IS REQUIRED BY LAW TO PUBLISH ITS GENERAL BASIC PROPERTY-TAX RATES THAT EXCEED THE STATUTORY MAXIMUMS…AND IN ITS LEGAL NOTICE IN THE LOCAL NEWSPAPERS, THE MAIN REASON CITED FOR THE NEED FOR A-MILLION EXTRA DOLLARS IN TAX REVENUE IS “TIF INCREMENT VALUES IN EXCESS OF 127-MILLION DOLLARS, LIMITING THE COUNTY’S ABILITY FOR MUCH GROWTH IN VALUATIONS.”   THE GOOD NEWS IS THAT THE OVERALL RATES HAVEN’T CHANGED MUCH, ACCORDING TO BUDGET DIRECTOR CHERYL MCVEY.   HOWEVER, VALUATIONS ARE UP ABOUT TWO PERCENT, MEANING TAXES WILL STILL GO UP ON RESIDENTIAL AND FARM LAND. 

 

THE COUNTY BOARD WILL HOLD A PUBLIC HEARING ON ITS BUDGET, NEXT TUESDAY MORNING AT 9 O’CLOCK ON THE SECOND FLOOR OF THE COURTHOUSE IN DOWNTOWN BURLINGTON.