Boone County Commissioners met Monday, July 29, with Rick Martinsen, CPA, to begin considering the county’s 2019-20 preliminary budget.
Revenue needs are expected to be higher due to flood damage repairs and other road/bridge projects, as well as equipment purchases.
At the outset, Martinsen noted the preliminary budget, with all expenditures included and no additional revenue from the inheritance tax fund, would have a total property tax requirement of $4,246,131, which would represent an increase of $567,126 or 15.4 percent over the previous year.
Commissioners then reviewed various aspects of the road and bridge budget, flood damage repairs, equipment for the Road Department and Sheriff’s Department, and office equipment for the Extension office when it is moved to the new Agriculture and Education building.
The rebuild of 145th Street west of Petersburg is listed at $800,000 in the preliminary budget. The board has discussed resurfacing the east two miles and restoring a gravel surface on the west two miles. Resurfacing cost has been estimated at $3 million for asphalt surface or $3.6 million for concrete surface.
The board discussed possibly doing this project over two budget years.
The county’s inheritance tax fund balance stood at $5,565,835 as of June 30, 2019. The county board has budgeted about $500,000 annually from the inheritance tax fund for the road and bridge fund in the past several years.
The current county levy (2018-19) is 15.3 cents per $100 of assessed value.
Complete story in the July 31 Albion News print and e-editions.