Oktibbeha County Plans Budget for Fiscal Year 2025 Without Tax Increase
OKTIBBEHA COUNTY — Big news came from the Oktibbeha County supervisors last week as they worked through their plans for the Fiscal Year 2025 budget. Despite having an additional 2.66 million dollars to play with, the county has decided not to raise taxes for its residents. Instead, it will be utilizing a significant portion of its cash reserves to balance the budget.
The budget, which was approved on Thursday, will keep the tax rate steady at 124.61 mills. This means residents can expect the same rate as the previous year, providing a bit of stability in an ever-changing financial landscape.
How Will the Budget Be Allocated?
The funds will be divided thoughtfully. Out of the total budget, which comprises 20.16 million dollars for the general fund, approximately 58.62 mills will go towards the county’s funding requests. This includes financial support for institutions like East Mississippi Community College and the OCH Regional Medical Center, among others.
As for the Starkville-Oktibbeha Consolidated School District, they will benefit from the remaining 65.99 mills of the tax levy. With an eye on growth, the county is also looking to address its increasing expenses, anticipating that an uptick in property values will help cover a portion of those costs.
Using Cash Reserves to Cover the Gap
Oktibbeha County plans to pull about 2.3 million dollars from its cash reserves to make ends meet. One of the supervisors raised a pertinent question regarding the potential risks of utilizing these reserves. Thankfully, a representative from the Golden Triangle Planning and Development District indicated that with 2.8 million dollars still in the county’s general fund cash reserves, the move should be sustainable.
Although this financial strategy leaves just 500,000 dollars in the general fund cash reserves, it was noted that there’s no mandated minimum that the county must maintain. The county does, however, have a total of 29 million dollars in restricted reserves across other funds, which cannot be tapped for this situation.
Investing in County Workforce
The Fiscal Year 2025 budget also showcases how the county plans to invest in its workforce. Employees will enjoy a 3% raise, and the board has approved the creation of 11 new positions. This includes multiple roles within the sheriff’s department, enhancements to the road department, and essential administrative positions like a human resources manager and an information technology director.
The decision to bring on a part-time engineer alongside the current contracting engineer led to a discussion about the potential for shared responsibilities. There is optimism that a part-time engineer can manage projects without detracting from the work of the contracted engineer.
Funding the E-911 Dispatch
One intriguing aspect of the budget was the line item for 500,000 dollars designated for “other financing uses.” This particular funding is essential for the E-911 dispatch service, which, like many in other counties, requires support from the general fund to maintain operations.
When breaking down the tax levy requests, it turns out that the school district’s request accounts for the majority at 52%, while general government operations take 25%, and funding for roads and bridges is set at 10%. The remainder goes toward various debt payments and special levies.
Looking Ahead
The fiscal year begins on October 1st, and it appears that Oktibbeha County is gearing up for a year filled with appropriate financial planning and community support. As decisions unfold and resources are allocated, residents can remain hopeful about the future and the effective management of their tax dollars.
It’s clear that the county’s leadership is committed to maintaining the community’s well-being while navigating financial challenges.
