From the Kokomo Tribune:
When the Howard County Council begins work on the 2013 budget, the funding requests will be lower from the general fund, but the available monies are expected to be decreased.
Laurie Martin, chief deputy in the Howard County auditor’s office, said requests from the general fund for 2013 were submitted at $18.4 million. She said the budget approved for this year from the general fund amounted to approximately $18.6 million.
“They could go with the requested amount,” Martin said.
She said as a result of the annexation by the city of Kokomo, which impacts tax collections for 2014, the county’s share of Economic Development Income Tax and County Option Income Tax revenues will drop by 15 percent.
As a result of the annexation, the county is expected to receive $1 million less in local income taxes, Martin said.
Martin said because more properties will be hitting the same mandated property tax caps in 2013, the county is expected to lose another $700,000.
Martin said the county might have to dip into the general fund operating balance, which is projected to be $9.8 million at the end of the year. She said the operating balance at the start of 2012 was $5.5 million.
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http://kokomotribune.com/local/x685075425/Howard-County-departments-request-lower-budget
