MANSFIELD — The Richland County Board of Commissioners projects the county to end 2024 with about an $8.4 million budget surplus, based on current revenue and expense projections.
That projected final revenue for 2024 again Tuesday became the subject of a lunch bet between Commissioner Tony Vero and county Auditor Pat Dropsey.
Vero predicted the county will end the year with general revenues of $49,500,000. Dropsey projected $48,936,544.87, a difference of $563,455.13.
County general fund revenues were $47.3 million in 2023.
The winner is the one who comes closest without going over, a meal that Vero has collected for the last two years.
Dropsey, however, said it’s technically incorrect to say Vero wins the annual bet.
“I might buy your lunch, but I win every year,” he said, making reference to the fact commissioners have more money to allocate than he projects.
“If Tony’s number is closest, I still win,” he said.
That 2024 end-of-year surplus — comparable to the $8.4 million surplus the county enjoyed at the end of 2023 — will not impact the 2025 budget planning efforts.
That’s because have a formal policy of approving a general fund balanced budget, i.e. not appropriating more in expenses than projected revenue.
Commissioners continued budget meetings with elected officials and department heads on Tuesday, including Dropsey, Probate Court Judge Kelly Badnell and Domestic Relations Court Judge Beth Owens.
At this point, officials are projecting 2025 general revenues of $45,629,493 as sales tax revenues continue to flatten.
Sales tax revenues are the single biggest driver of the general fund. Those amounted to $25.7 million in 2023 and are expected to finish at $26 million in 2024. Projections are for $25.6 in 2025.
Based on budget requests, commissioners said they will need to trim about $3 million from requests, about 6.2 percent.
Those budget finalizing discussions among commissioners began Tuesday afternoon and will result in a finalized 2025 budget by the end of December.
In terms of the surplus at the end of 2024, commissioners will also have to decide how to allocate those funds.
A year ago, the board chose to put another $4.3 million into the county’s capital expense fund.
They added $1.9 million to the county’s “rainy day” fund; $500,000 to the general fund carryover; paid $1 million toward the $18 million still owed in bond debt for the county jail and put $500,000 into a newly created special revenue fund.
That fund can be used for future “payroll anomalies,” including a 27th pay period in 2032 — and unexpected employee payouts due to unforeseen retirements, etc.
