New Madrid Co. Commissioners release 2018 budget
The New Madrid County Commission met Tuesday, February 6, for the annual budget hearing for 2018. The meeting was held in the office of County Clerk and Budget Officer Clement Cravens. He presented the docket and records of this Commission, information and estimates for the year 2018 as required by County Budget Law (Sections 50.525 to 50.745, RSMo.)
All of the commissioners were there except for Presiding Commissioner Mark Baker. He was out of pocket on personal business.
The Budget Report is as follows:
GENERAL REVENUE FUND
The General Revenue Fund began the 2017 fiscal year with a reserve balance of $3,627,525.95, ending the year with a balance of $2,783,207.85. The 2017 budget projected deficit spending of $1,378,396.85 in the fund, however, actual expenditures totaled $517,444.81 less than appropriations, resulting in a deficit less than forecast.
The 2018 budget includes revenue estimates of $5,066,900 and appropriations for expenditures of $5,865,042.96 which projects deficit spending of $798, 142.96 for an ending balance in the fund of $1 ,985,064.89.
The following aspects of the 2018 General Revenue Fund budget are explained in greater detail:
I) Budget requests submitted by officeholders totaled $730,363.89 less than 2017 budget requests in an effort to reduce deficit spending in the fund.
2) Revenue estimates continue to hold steady at approximately $5.1 million.
3) The transfer from the General Revenue Fund into the 91 1 Fund will increase from $324,000 to $455,000 primarily due to the increase in the contract between the County and the City of New Madrid for dispatching services. The County will pay the City $30,000 per month for a total of $360,000 for dispatcher salaries and fringe benefits. In addition, the County will reimburse the City $63,000 for equipment purchased for the dispatch center in 2017.
4) MODOT Aviation allocations for airport projects will total approximately $300,000 in 2018, however actual work on the T-Hangar Taxilane Reconstruction project will not begin until sometime in fiscal year 2019 after sufficient allocations have accumulated for the $549,000 project.
In summary, due to the approximately $2,500,000 reduction in the fund's reserves over the past three years, future appropriations for expenditures should be based on a high priority of need.
COUNTY ROAD AND BRIDGE FUND
The Transportation Sales Tax generated approximately $1.5 million in sales tax revenue for the Road and Bridge Fund in 2017 as it did in 2016. The County Commission bas reduced the Road and Bridge property tax rate by 50% as promised since approval of the sales tax by voters, and will again reduce the tax rate in 2018.
Total revenue in the Road and Bridge Fund is anticipated to be $4,278,000 in 201 8, of which $1 ,500,000 is federal reimbursement for ongoing bridge replacement projects. A total of $4,479,500 is budgeted for Road and Bridge expenditures in 2018.