Union County is moving into 2022 with enough cash in reserve to pay for the entire year’s operating expenses and have money left over.
According to the Union County Auditor’s Office, Union County came into the year with more than $28.5 million of unencumbered carryover between the general fund and a variety of other specialty funds. In 2021, the county had general fund expenses of about $23.34 million.
“For a county our size, the number we have is a good, prudent number,” said County Commissioner Chris Schmenk, calling 2021, “a good solid year for the county.”
Union County has seen its carryover grow during the pandemic. Going into 2020, the county had almost $17.43 million of unencumbered carryover between the general fund and a variety of other specialty funds. That number grew to more than $24.57 million by the end of 2020.
“The county is strong financially,” Schmenk said. “We are in good shape to provide the services necessary for a growing county.”
In addition to growing the carryover, in 2021, Union County generated more than $29.13 million in revenue. Of the county revenue, nearly $12.4 million came from sales tax, up from $11.2 million in 2020; more than $7.1 million from property tax, up from $6.4 million in 2020; and nearly $3.5 million from conveyance fees, up from $2.5 million in 2020.
She said the property tax and conveyance fee increases are “indicative of the hot real estate market locally.”
The county also received nearly $5.73 million in funding from the American Rescue Plan Act (ARPA). According to the auditor’s office, none of the ARPA money has been spent. Schmenk said county officials are “working on a process to allow folks to apply for those funds.”
“We will be doing that,” Schmenk said. “We really wanted to take our time, see what other counties are doing and get some ideas for this.”
She said the Treasury Department has changed the requirements for how some of the money can be spent adding that she is “glad we waited to spend that money because I think we have a better idea of what we can use that for.”
Schmenk said she is also glad the county has the reserve funds it does. She said that money can be used to cover unforeseen incidents. She cited the recent water leak at the county office building that impacted the building structure.
“We had to put unexpected money into shoring up that back wall,” Schmenk said. “It has definitely proved the value of having money in the carryover fund.”
She added that some of the nearly $9 million in the capital improvement fund will be used to expand and update several offices at the County Office Building.
The $29.1 million in 2021 was a record. Union County’s general fund received more than $28.1 million for 2020 and $25.26 million in 2019. The 2020 revenue number does not include an additional more than $3.15 million in federal funds from the Coronavirus Aid, Relief and Economic Security (CARES) Act.
The general fund appropriations budget, without transfers, totals $28,941,882.31. The auditor has estimated 2022 revenue to total $29.23 million.
Coming into 2021, the auditor estimated the year’s revenue at $28.26 million.