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La Salle County facing $10 million deficit

Posted by wlpo on November 4, 2009

With times being tough, the La Salle County Board is looking at a budget with a $10 million deficit.

          The board Tuesday placed on file its 2009-2010 budget which begins December 1st.  The tentative budget has projected revenues of $68.6 million and expenditures of  $78.4 million.  Expenses are up about $2 million from the last budget while revenues remain the same.

          Revenues are staying the same because the county plans to bring in over $3 million more in property taxes this year.  The extra taxes won’t come from your property tax bill but instead the reassessed valuation of the Exelon Power Plant.  The county plans on collecting over $24 million from your property taxes. 

          Chairman Jerry Hicks says expenses are up yet again for salary and health insurance while revenues are down in state funding and sales tax money.  Hicks thinks the county’s share of retail sales tax and a public safety sales tax to be down a million dollars from the year before.

          To help cover the budget deficit, the board is dipping into its cash reserve for about $six million.  Despite another deficit year, Hicks says the county’s finances are solid.

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