Saturday, July 16, 2011
2012 County Budget Watch: Marathon County
Marathon County faces $500K budget hole for 2012. (Wausau Daily Herald, 7/15/2011)
Excerpt: An estimated 2 percent decline in the county's equalized value -- the value of all taxable property and equipment throughout the county -- combined with little or no new construction and a cut of more than $1 million in state aid all are factors in the shortfall.
"Will we stay in the hole forever? No," said Finance Committee member William Gamoke. "We should be out within four years, and if not, we're in deep, dark trouble."
Members of the county's Finance Committee earlier this week discussed cuts to capital improvement project funding -- which pays for vehicle replacement, road construction and other infrastructure -- as one way to balance the county's roughly $160 million budget.
The county uses its fund balance -- the difference between what officials budgeted and what was actually spent -- to pay for capital improvement projects.
Gamoke said taking money from the roughly $3 million available for 2012 capital improvements is not ideal, but might be the best option.