County begins fiscal year with increased reserves

On September 29th, Historic City News reported that the St. Johns County Board of County Commissioners had adopted the final “Fiscal Year 2011” budget of $582 million — a $29 million decrease from 2010, and, a $151 million decrease since 2007.

Adoption of the final budget was the culmination of a lengthy process, which included public feedback received at the Town Hall meetings and throughout the year. The 2011 budget went into effect October 1, 2010.

Final millage rates showed no increase from the prior year — despite just over a 10 percent decline in total taxable property values in the county.

In steady decline over the past three consecutive years, taxable property values have suffered a cumulative decrease of over 25 percent.

Despite County revenue declines, total County reserves were able to be increased slightly from the prior year as the County continues to position itself to bridge to better economic times. However, County reserves are anticipated to be significantly reduced during fiscal year 2011 with the lingering economic slowdown and potential further devaluation in the housing market.

“County employees are to be congratulated for further sacrifices and efficiencies in continuing to do more with less in difficult economic times for everybody,” County Administrator Michael D. Wanchick told Historic City News in a letter received from his office yesterday. “Our staff has continued to serve the public with dedication and commitment, despite no pay increases for two years and taking unpaid furlough days last year.”

“Most importantly,” Wanchick says, “the County has once again been able to maintain its service level to the community through the concerted efforts of the County Commission, County Administration, and all the County staff.”