Politics & Government

County Budget Reserve Could be 'Wiped Out' in 2015

Officials review report on county finances.

has led officials to warn the county's reserve fund could be "wiped out" in 2015 unless further actions are taken.

County planners are currently using three different scenarios to estimate the county’s financial situation through 2015. In the most optimistic scenario, the economy would recover. The worst-case scenario is based on a .

“Our goal is to look far enough ahead to give us time to develop plans for whichever way the economy goes,” said Gwinnett County chief financial officer Aaron Bovos in a released statement.

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Officials expect a gap between revenues and expenses in the 2012 budget could cause the county’s reserve funds to fall below the desired two months of operating expenses. By 2015, the reserve fund could be empty, Bovos said.

On May 17, commissioners are scheduled to vote on a measure that could improve the county's financial outlook. If approved by the board of commissioners, a building construction and acquisition project will be eliminated. The elimination of the project would reduce the general fund contribution by $15.8 million. Commissioners will also vote on voluntary departmental reductions of nearly half a million dollars. The reductions include $398,000 from the Gwinnett Transit budget and $62,000 from the Sheriff’s department.

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Bovos said county staff continues to look for ways to reduce expenses and boost revenues. So far, .

County officials expect to have more information regarding revenues in June when preliminary results of the property tax appeals will be made available. The board is scheduled to approve the tax digest and set the millage rate in August if the property tax appeals process is complete by that time. Property taxes will be billed in September and due in November. 

“The next few years will be financially challenging to the County, even though we hope to begin seeing signs of economic recovery. To maneuver through the challenges in future years, we have to take steps now,” Board Chairman said.

Monthly county financial reports are available on the county’s website, www.gwinnettcounty.com.


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