Link to May 29 Daily Union online article, " County finance committee holds first listening session on budget woes"Excerpt: Lake Mills area residents got a first-hand look at Jefferson County's 2009 and 2010 budget picture Thursday night and the picture they saw was not a pretty one.
The County Board's Finance Committee was in Lake Mills to hold the first of four informational/listening sessions about the county's growing structural deficit and what it means for county residents.
Regardless of the course residents and the board decides to take, the passage will be a rough one.
"Due to declining economic conditions the county could end 2009 with a deficit that will impact us in the future," said County Administrator Gary Petre. "Our investment revenue is going to be half a million dollars versus the $1 million we estimated when we put the budget together."
When compared to the amount of revenue the county was receiving in investment income as recently as Dec. 31, 2007, Petre said that the county is now getting $1.6 million less than the $2.1 million it earned then.
"Sales tax revenues are $4 million instead of the $5 million we budgeted for," added Petre.."
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