Coming up Monday evening (November 14th), the Vermilion County Board Finance and Personnel Committee will be giving the final nod to the proposed Vermilion County Budget and Tax Levy. Expenses are projected at $46.9 million dollars; with revenues at $46.7 million dollars.
County Board Chairman Larry Baughn says the adjustments made to make county salaries more competitive is a major reason that expenses are up $1.7 million compared to the last budget. But another point Baughn makes is that although revenues come in $200,000 below expenditures, the General Fund is actually in the black this time around.
AUDIO: The General Fund is holding a surplus for the first time, at least in my tenure on the County Board since 2014. So we’re excited about that. And of course, we’ll continue to chip away, even after this budget is passed, to get some more finances under control.
The county tax levy, compared to last year, is going up from $9.48 million to $9.8 million. Baughn says the main reason there is the increase in Equalized Assessed Valuation for Vermilion County properties.
AUDIO: Basically, the increase in the levy comes from the increase in the EAV in the county. So, we didn’t change any levy numbers. You know, they have inflated; but they only inflated with the new EAV levels and where they’re at for this coming year.
Monday night’s Finance and Personnel Committee meeting is at 5 PM (Nov 14th) in the committee room at the Vermilion County Administration Building. The County Board meeting is at 6 PM Tuesday (Nov 15th) in the Administration Building’s County Board Chambers.
