image description

General Overview Of FY 2014 County Budget

April 26th, 2013 by WCBC Radio

Although far from ideal, Thursday afternoon’s preliminary budget presentation to the Allegany County Commissioners shows the county’s fiscal picture relatively healthy, and steadily improving. Finance Director Jason Bennett provided a general overview of the budget that has been put together for FY 2014 and it reflects county revenues that have increased slightly in the past year and most of that 1.5 percent increase came from property and income tax revenues. Nearly all of the $308,955 property tax increase can be attributed to the $295,000 payment in lieu of taxes agreement between the county and the owners of the Rocky Gap Lodge and Golf Resort. Bennett reported that income tax revenues have increased by $714,600. Refinancing the county’s debt also helped with the budget, Bennett said. The projected county fiscal year 2014 budget is projected to be $82.6 million, up from $81.3 million in fiscal year 2013. County Commissioner Bill Valentine said that overall, he is encouraged with the fiscal direction the county is moving…

Leave a Reply

View Mobile Site