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Fiscal Court Approves 2020/21 Budget

By Eugenia Jones

McCreary County Fiscal Court met in special session last week to approve the second reading and final adoption of the 2020/2021 budget. The final budget totaling $8,672,936.00 remained unchanged from the draft budget voted on by the Fiscal Court in May. With an increase of only $159,000 over last year, the 2020/2021 budget closely mirrors the 2019 budget. Just over fifty-four percent ($4,710,325.00) of the total budget is allocated to the General Fund with 1.7% ($80,000) of General Fund revenue coming from alcoholic beverage fees. Appropriations earmarked within the General Fund for Alcoholic Beverage Control (ABC) total $35,000 (including salaries.)
The 2020/21 road fund saw a decrease from last year-down from 28.05% to 25.18% ($2,183,954,00.)-with approximately 76% of this year’s total road fund budget directly earmarked for roads and road facilities. Road funding suffered a direct hit for the upcoming fiscal year due to the COVID-19 pandemic which slashed gas tax funds available to local governments for road projects from the Kentucky Transportation Cabinet (KTC.) The reduction in gas tax funds resulted in McCreary County losing approximately $167,000 in funding from the KTC.
This year’s budget also reflects a drop from last year of just over $78,000 in Local Government Economic Assistance Funds (LGEA.) LGEA is the program of revenue sharing for Kentucky counties and cities which returns a portion of state collected coal and non-coal mineral severance taxes to eligible local governments. One hundred percent of this year’s LGEA funds ($31, 034.00) is budgeted for roads and will be divided among magistrates for use on roads in their districts.
The 2020/21 jail fund and ambulance equipment fund remained consistent with last year as they received 14.14% ($1,226,570.00) and 0.91% ($79,060.00) respectively.
The Total Revolving Fund budget (1.32%) dropped from $212,675.00 last year to $114,600.00.
In additional business, Fiscal Court voted to submit a request to the state auditor requesting an Extension Service audit. If approved and conducted, cost of the audit is to be paid by the McCreary County Extension Agency. Cost for an audit has not been determined.
The Court also approved a resolution regarding the completion of an Industrial Development Authority Proposal/Grant necessary for McCreary County to receive its third year of TVA economic development funds.

The next regular meeting of the McCreary County Fiscal Court is scheduled for July 9, 2020 at 6:00 at the McCreary County Courthouse.

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