 The audit includes both budgeted and actual figures from 2010, as
well as results from the year 2009.
Comparing the three sets of figures, as well as considering
current information from government associations, colleagues and
news sources, helps committeemen identify trends in order to prepare
for next year's budget and beyond.
This segment of the audit takes a brief look at highlights of
2010 revenues.
While creating the 2010 budget, the finance committee carefully
considered repeat revenues and anticipated those that would likely
be affected by the global economic downturn that began in 2009.
Revenues such as property, sales and income taxes were budgeted
lower than in 2009 and turned out surprisingly close to what
happened.
Property taxes were budgeted at $810,237 for 2010 and actually
came in at $808,000. That was down $32,000 from 2009 figures, which
came in at $840,000.
Income taxes were down $29,000 at $755,935.
Replacement taxes came in at $318,815. That was $6,000 less than
anticipated and down $31,500 from 2009.
Replacement tax is a tax that the state began collecting from
businesses in 1979. It replaced the business personal property tax.
It can be used for the same purposes as the previous tax -- to pay
debt service or support pension or retirements funds; certain places
it supports libraries under that entity's jurisdiction; and when
these are satisfied, the tax may be used the same as property taxes
are used.
Grants commonly supply both repetitive and non-repetitive
revenues that bolster Logan County's budget.
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It was also noted that in 2009 the county received $100,000 in
non-repetitive revenue from building permits generated by Rail
Splitter Wind Farm.
While no wind farm permits were seen in 2010, an even larger
amount than in 2009 is expected to come in during 2011 from Sugar
Creek One. And, more wind farms are expected in near-future years.
The county sees its greatest income from wind farms from the
one-time building permit fees that the turbines bring in.
Schools see the greater benefit from annual taxes, receiving 65
to 75 percent of the annual property taxes, which increase based on
megawatt production.
In total, revenues were budgeted at $5,462,389 for 2010 but
actually came in at $5,432,605 -- a close guesstimate at $30,000
less than expected -- as opposed to $5,531,000 in 2009, bringing
total revenues down $98,000.
___
Part 3 of the audit's return overviews some of the biggest
expenses in the county's general operations and how those are paid.
[By
JAN YOUNGQUIST]
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