Oconee County FY 2018 Budget Will Not Require Use Of Reserve Funds, Public Told

Oconee County presented a $49.9 million Fiscal Year 2018 Budget to the public last (Tuesday) night that was balanced without requiring that any money be drawn from the county’s reserve funds, labeled the Fund Balance.

Finance Director Wes Geddings said he is projecting that the county will receive sufficient revenue, primarily from sales tax and property tax, in the 12 months starting on July 1 to cover the $49.9 million budget.

Geddings did not provide any details of his revenue projections, though he did indicate he expects the county’s tax digest, or the value of property in the county, to go up.

Since the county plans to keep its millage rate at 6.68 for the unincorporated parts of the county and 7.66 in the four cities, any increase in the tax digest translates into increased property taxes, on average, in the next Fiscal Year.

The $49.9 million budget represents an increase of 3.4 percent over the current budget of $48.3 million.

For more on the story, including details of the BOC meeting that followed the public hearing on the budget, go to Oconee County Observations.

Pictured: Finance Director Wes Geddings At BOC Meeting.