The 2018 Tentative Budget for the operations of Allegany
County has been finalized. The
consolidated total of the nine major appropriation funds will be $118,518,953
and represents an increase of $1,331,047 over the 2017 Calendar Year
budget. This increase represents an
increased net use of General County Funds of $135,568, or less than a 10
percent increase of General Fund dollars.Preparation of this year’s budget was completed through a
collaborative effort of the County Treasurer/Deputy Budget Officer, Elected
Officials, the Budget Committee, and our Department Heads. Their participation and cooperation
throughout the process was instrumental in the completion of this document and
laid the foundation needed to continue the day-to-day operations of Allegany
County.
The County has experienced increased collection of Sales Tax Revenue above our initial projections. Those revenues fell substantially below projections for the past two years and created revenue deficits of nearly $1.5 million. Despite relatively low gas prices, our revenues for collected sales tax in 2017 are projected to exceed projections by nearly $1 million. The budgeted amount of revenue for this line item was $18,750,000, and we are projecting revenues approaching $20 million by year end 2017.
Allegany County has enjoyed good fiscal stewardship for an extended period of time. A very healthy fund balance, coupled with a strong tax revenue, and good management of existing Capital Accounts should provide the citizens of Allegany County with a significant property tax reduction in calendar year 2018.
Our initial projected budget submission totaled an estimate of $118,895,587. That number was eventually reduced to the previously stated $118,518,953 amount. Those reductions are possible due to the wise use of existing funds and deferring some major purchases/construction projects to future years while still exercising good fiscal oversight. Some of the existing capital accounts are being utilized to fund projects/purchases in the upcoming budget. The overall tax levy needed to balance the budget was $ 33,908,786.
The County has entered into an agreement with Enterprise to properly manage and maintain its fleet operations. This has allowed us to effectively manage our transportation needs, project new vehicle acquisitions, and generate revenue in the process. This process will reduce the overall size of our fleet, assist us in future budget discussions, and result in taxpayer savings. Other cost saving measures have been considered/implemented within this document as well.
The proposed 2018 Allegany County budget will utilize $4 million of Fund Balance in order to create a balanced budget and reduce the Real Property Tax Levy. Our estimated General Unappropriated Fund Balance will be reduced from a projected amount of $27.5 million to $23.5 million. Utilization of these funds will still leave us with a balance of an estimated $23.5 million and ensures sufficient funds remain available to meet expenses for a two-month timeframe. These actions will directly result in a reduction of the Real Property Tax Levy from $16.05 to $14.96 per thousand. This is a 6.74 percent decrease from the 2017 figure.
Respectfully submitted,
The County has experienced increased collection of Sales Tax Revenue above our initial projections. Those revenues fell substantially below projections for the past two years and created revenue deficits of nearly $1.5 million. Despite relatively low gas prices, our revenues for collected sales tax in 2017 are projected to exceed projections by nearly $1 million. The budgeted amount of revenue for this line item was $18,750,000, and we are projecting revenues approaching $20 million by year end 2017.
Allegany County has enjoyed good fiscal stewardship for an extended period of time. A very healthy fund balance, coupled with a strong tax revenue, and good management of existing Capital Accounts should provide the citizens of Allegany County with a significant property tax reduction in calendar year 2018.
Our initial projected budget submission totaled an estimate of $118,895,587. That number was eventually reduced to the previously stated $118,518,953 amount. Those reductions are possible due to the wise use of existing funds and deferring some major purchases/construction projects to future years while still exercising good fiscal oversight. Some of the existing capital accounts are being utilized to fund projects/purchases in the upcoming budget. The overall tax levy needed to balance the budget was $ 33,908,786.
The County has entered into an agreement with Enterprise to properly manage and maintain its fleet operations. This has allowed us to effectively manage our transportation needs, project new vehicle acquisitions, and generate revenue in the process. This process will reduce the overall size of our fleet, assist us in future budget discussions, and result in taxpayer savings. Other cost saving measures have been considered/implemented within this document as well.
The proposed 2018 Allegany County budget will utilize $4 million of Fund Balance in order to create a balanced budget and reduce the Real Property Tax Levy. Our estimated General Unappropriated Fund Balance will be reduced from a projected amount of $27.5 million to $23.5 million. Utilization of these funds will still leave us with a balance of an estimated $23.5 million and ensures sufficient funds remain available to meet expenses for a two-month timeframe. These actions will directly result in a reduction of the Real Property Tax Levy from $16.05 to $14.96 per thousand. This is a 6.74 percent decrease from the 2017 figure.
The Tentative Budget has been filed with the Clerk of the
Board of Legislators on October 10, 2017, and, in the coming weeks, will be
reviewed by the Ways and Means Committee as well as the full Board of
Legislators where it will be subject to further amendment.
The 2018 Tentative Budget, in its entirety, will be posted
and made available on the County’s website at www.alleganyco.com for public inspection and will be subject to
a mandatory Public Hearing on November 9, 2017, at 7:00 p.m. in the Legislative
Chambers of the County Office Building.Respectfully submitted,
Timothy T. Boyde
Allegany County Administrator/Budget Office
