Barrow County leaders still haven't found a magic solution to the government's looming budget problems. When the county begins its new fiscal year Oct. 1, it will be facing a $5 to $5.7 million deficit, a situation that portends a major tax hike this fall.
The county currently is projecting a $5.7 million funding shortfall mostly due to falling property values that generate the single largest revenue stream – property taxes – and two long-term debt obligations incurred during the previous administration.
The BOC has managed to keep the county afloat during the recession by cutting expenses and using the back-up reserves to cover remaining budget shortfalls an unexpected expenses.
But as the board faces a potential $5.7 million revenue shortfall for FY2012 with “no reserves,” the commissioners are entering uncharted financial territory.
Commissioner Steve Worley, who managed to salvage the past two fiscal year budgets, said this week that he worked with county officials to trim $700,000 from the projected shortfall. But he said he cannot see any easy way out of the remaining $5 million hole.
Though BOC Chairman Danny Yearwood at last week’s budget meeting said a budget committee would be formed, Worley said no committee has been assembled.
“What’s the purpose?” he said. “If we are going to tell the departments how much they are going to get, why are we putting a committee together?”
Until the 2011 Tax Digest is finalized, the BOC can’t make any major decisions, he said.
Chief Appraiser Cecil Highfield has estimated a 10-percent drop in the digest, which is the compilation of all taxable values of property in the county.
However, Highfield a couple of years ago made a similar projection, and the digest dropped that year by only 6 percent.
The spoiler this year is a state requirement that foreclosure sales be included in the digest. Worley said those low-ball sales prices are having a big impact on other property values.
We need to go back to a Volunteer Fire Department and move in to a Volunteer Sherrifs Dept.
Small, poor communities do this all over the USA , we can too.
In a few years when things turn around and we start growing again and can afford it , we can go back to a paid Fire Dept. and fully paid Sherrifs dept.