County might avoid midyear borrowing
Published 11:12 am Wednesday, October 3, 2012
A tight budget and small surplus for Warren County in fiscal 2013 might head off midyear borrowing for a second straight year, County Administrator John Smith said.
“I’m keeping my fingers crossed,” Smith said. “What we’ve done before is asked to borrow up to 25 percent, but we’ve actually borrowed for less.”
Three government loans from 2008-09 to 2010-11 kept the county’s general fund afloat until property tax payments hit the books, usually in February. So-called tax anticipation notes act as cash advances to shore up expected revenue. The state allows counties to borrow up to 25 percent of estimated taxes on real property in a given year. The three loans had freed the county to borrow up to $3.5 million; actual loans totaled about $1 million, Smith said.
In September, the Board of Supervisors passed a $14.8 million budget that kept the general millage rate level. It did allow for a 1.21-mill increase for the Vicksburg Warren School District, expected to tack an extra $12.10 onto property taxes countywide.
The budget had a $22,628 surplus in the general fund. Building permits are to rise to $15 from $5, with a $25 fee in store for construction in floodplains. A public hearing would be required for the planned price hikes because it involves changing an ordinance. If enacted, the higher fees are expected to net an extra $9,000 for the county.
Hiring was frozen, which left vacant positions open. The board kept funding level for the NRoute transportation system, at $30,100, and for charitable agency support enabled by the Legislature, at $189,880.