The Miami County Commissioners formally adopted the 2012 tax planning budget during the board’s regular business meeting on Tuesday, July 12, 2011. The approval is based upon projections of estimated carryover, estimated revenue and anticipated expenditures for the year 2012.
The tax planning budget, mandated by the Ohio Revised Code, is a planning tool and the first step in the county’s budgeting process for 2012. The second and final step is the adoption of 2012 appropriations which will be adopted by resolution in December of this year.
The County Budget Commission projects the General Fund revenues for 2012 at $20,824,935.00. Expenditures in 2012 are limited to $24,136,803.55. Other funds revenues for 2012 $56,968,028.48 and appropriations of $57,610,575.04.
The $4.2 million in general fund cuts Miami County elected officials and departments made last year enabled the county to carry over $600,000 in surplus from last year. Because of the cuts, we are cautiously optimistic the general fund will be balanced in 2011 and next year. The commissioners will continue to monitor the county’s financial condition monthly and make the appropriate reactions when needed.
“As we have shown in the past, the Commissioners will work hard with the other elected officials to close any gap in the 2011 budget and 2012 appropriations. We are optimistic that the management team of elected officials will come up with solutions to any budget issues that arise.” Commission President, John F. “Jack” Evans stated.
“This budget is a planning tool we use to see where we are heading. Our job now is to find ways to trim any gap that develops between now and when we approve the final appropriations in December.” Commented Commissioner Richard Cultice.
Commissioner John W. (Bud) O’Brien added, “The work we’ve done on the budget in the past 18 months means Miami County is still on solid financial ground. We have been able to maintain this position though conservative financial planning and we will continue to work within those principals.”
