County and Schools Roll Over Funds

Despite concern during the recent budget season regarding the possible need to tap into dwindling fund balances on both the County and Schools side to met the financial obligations that were missed in previous budget projections, the financial picture is brighter than expected. The Jefferson County Finance Office informed County Commissioners, via email last week, that both the County and Schools sides of the budget had significant monies roll back into fund balance from the 2014/2015 budget year which ended June 30, 2015.

Earlier this summer Jefferson County Finance Director Potts stated that he was confident that some amount of funds would roll back into fund balance for both the County and Schools. However, he declined to put a number on the summation until the figures were solid. For the County General Fund the revenue came in $1,020,559 higher than was expected even in the amended budget, due largely to property tax collections, as well as hotel/motel tax, EMS patient charge collection and the sale of property. On the expense side for the County there was also positive news, with the actual expenses being $1,365,682 lower than the amended budget. Areas of savings included the Jefferson County Sheriff’s Department, Jefferson County Jail, EMS and Maintenance Garage. Combined the net result of the revenue and expenses is $2,386,241.

The School side of the budget also received an increase in revenue which has been attributed to a greater than expected sales tax collection to the tune of $770,397. Fewer teachers positions and lower maintenance expenses also brought a decrease in expenses of $653,112 and a combined net result of expenses and revenue of $1,423,509.

The County and Schools general funds will be the recipient of the unexpected financial boon, which comes on the heels of a tense budget process for the 2015/2016 fiscal year.