County Gets Great Financial News From State
July 28, 2016 at 4:25 p.m.
A check for $1,967,298 was expected to be received by Kosciusko County Tuesday, according to county auditor Sue Ann Mitchell at Tuesday's Kosciusko County Commissioners meeting.
The approximate $2 million is the county's share of a revenue growth exceeding the Indiana State Budget Agency's forecasts of the County Option Income Tax. The total of the revenue growth is $5,159,532, and besides a share of it going to the county, the money also will be distributed to townships, towns, cities and libraries in Kosciusko County.
Of the townships, Wayne Township will receive the most - $157,170. Scott Township will receive the least - $2,460.
The city of Warsaw will receive the most money - $1,459,157 - of the cities and towns in Kosciusko County. Syracuse will get $287,746 and Winona Lake will receive $186,095. The town of Sidney will receive the least, $2,070.
Of the libraries, Warsaw Community Public Library will receive $330,138, followed by Milford Public Library with $61,233.
Mitchell worked on getting the COIT revenues for the county since February.
At a Kosciusko County Council meeting in February, Mitchell told the council she received information from the State Department of Revenue along with the State Budgeting Agency regarding the 1985-2001 actual and projected revenues for COIT funds.
In 1985, when the county, including all taxing entities in the county, began collecting COIT money, the tax collected $433,055 for the year and earned interest of $7,514. No money was distributed in the first year.
By 1995, with a beginning balance of approximately $1.5 million, the county collected approximately $6.2 million for the year, distributed approximately $6.1 and earned around $87,000 in interest, ending with a balance of approximately $1.7 million for the year.
Then in 1997, the county asked the state to hold the money for only three months instead of six. Subsequent to that collection, the holdings were greater than what the county received each month in return, thus increasing the state's holding of the county's money.
Distributions are projected by the state two years in advance. Money the county will receive in 2002 is based on 2000 income.
The ending balance for 2001, at the end of October, is projected at approximately $7.75 million, which includes interest earned. For 2001, Kosciusko County is guaranteed a collection of at least approximately $904,000 each month. If the county asks the state to withhold the money for only three months, the county will receive more than $3 million of the ending balance, Mitchell said in February.
Tuesday, Mitchell told the commissioners the county council wants the county's share of the COIT revenues to go into the cumulative capital development fund to help pay for the Justice Building expansion project.
"Right now," said county administrator Ron Robinson, "we're two months ahead" with the project, but that may slow down.
"I'm glad we got that," commissioner president Brad Jackson said of the COIT revenue.
In another matter, Kosciusko County Highway Superintendent and Engineer Rob Ladson told the commissioners there is a water leak at the highway department office building.
Jackson told Ladson to get an estimate on how much it will cost to fix the problem.
"I like the idea of two guesses rather than one," said commissioner Ron Truex.
The commissioners then recommended Ladson get two estimates on the cost to fix the leak and then proceed with having the leak fixed.
The last order of business before the commissioners Tuesday was a vacation request.
Tracy Beer requested to vacate 1,500 feet of Gravelton Road in Jefferson Township. The vacation was unanimously approved. The portion of road is south of the CSX Railroad.
Members of the Kosciusko County Commissioners are: president Brad Jackson, Avis Gunter and Ron Truex. They meet at 9 a.m. every other Tuesday in the county courthouse. The meetings are open to the public. [[In-content Ad]]
A check for $1,967,298 was expected to be received by Kosciusko County Tuesday, according to county auditor Sue Ann Mitchell at Tuesday's Kosciusko County Commissioners meeting.
The approximate $2 million is the county's share of a revenue growth exceeding the Indiana State Budget Agency's forecasts of the County Option Income Tax. The total of the revenue growth is $5,159,532, and besides a share of it going to the county, the money also will be distributed to townships, towns, cities and libraries in Kosciusko County.
Of the townships, Wayne Township will receive the most - $157,170. Scott Township will receive the least - $2,460.
The city of Warsaw will receive the most money - $1,459,157 - of the cities and towns in Kosciusko County. Syracuse will get $287,746 and Winona Lake will receive $186,095. The town of Sidney will receive the least, $2,070.
Of the libraries, Warsaw Community Public Library will receive $330,138, followed by Milford Public Library with $61,233.
Mitchell worked on getting the COIT revenues for the county since February.
At a Kosciusko County Council meeting in February, Mitchell told the council she received information from the State Department of Revenue along with the State Budgeting Agency regarding the 1985-2001 actual and projected revenues for COIT funds.
In 1985, when the county, including all taxing entities in the county, began collecting COIT money, the tax collected $433,055 for the year and earned interest of $7,514. No money was distributed in the first year.
By 1995, with a beginning balance of approximately $1.5 million, the county collected approximately $6.2 million for the year, distributed approximately $6.1 and earned around $87,000 in interest, ending with a balance of approximately $1.7 million for the year.
Then in 1997, the county asked the state to hold the money for only three months instead of six. Subsequent to that collection, the holdings were greater than what the county received each month in return, thus increasing the state's holding of the county's money.
Distributions are projected by the state two years in advance. Money the county will receive in 2002 is based on 2000 income.
The ending balance for 2001, at the end of October, is projected at approximately $7.75 million, which includes interest earned. For 2001, Kosciusko County is guaranteed a collection of at least approximately $904,000 each month. If the county asks the state to withhold the money for only three months, the county will receive more than $3 million of the ending balance, Mitchell said in February.
Tuesday, Mitchell told the commissioners the county council wants the county's share of the COIT revenues to go into the cumulative capital development fund to help pay for the Justice Building expansion project.
"Right now," said county administrator Ron Robinson, "we're two months ahead" with the project, but that may slow down.
"I'm glad we got that," commissioner president Brad Jackson said of the COIT revenue.
In another matter, Kosciusko County Highway Superintendent and Engineer Rob Ladson told the commissioners there is a water leak at the highway department office building.
Jackson told Ladson to get an estimate on how much it will cost to fix the problem.
"I like the idea of two guesses rather than one," said commissioner Ron Truex.
The commissioners then recommended Ladson get two estimates on the cost to fix the leak and then proceed with having the leak fixed.
The last order of business before the commissioners Tuesday was a vacation request.
Tracy Beer requested to vacate 1,500 feet of Gravelton Road in Jefferson Township. The vacation was unanimously approved. The portion of road is south of the CSX Railroad.
Members of the Kosciusko County Commissioners are: president Brad Jackson, Avis Gunter and Ron Truex. They meet at 9 a.m. every other Tuesday in the county courthouse. The meetings are open to the public. [[In-content Ad]]