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County ends 2019 with more than $9 million in savings

COLUMBUS—As of June 30, 2019, Polk County has more than $9 million in savings, which means having a 36 percent fund balance. 

The Polk County Board of Commissioners heard its audit report from Gould Killian CPA Group, P.A. in December. 

The county’s fund balance has continued to grow over the last few years, with a little over $7 million in available fund balance in 2017 to $9,340,093 at year -end 2019. 

The county’s total fund balance at year-end 2019 was $11,629,940. 

After hearing the audit report, commissioners decided to give the school system $500,000 to replenish its fund balance because of state cuts. 

The county’s fund balance grew by almost $2 million between fiscal year 2018 and 2019. The county had $7,626,440 in fund balance at year-end 2018 compared to the $9,340,093 available at year-end 2019. 

During fiscal year 2018-2019, Polk County’s general fund revenue came mostly from ad valorem taxes at $16,248,394, according to the audit report. Local option sales tax was $4,973,439; restricted intergovernmental funding was $4,094,182 and other revenues were $2,288,118. 

The majority of the county’s expenses during 2019 came from other, while public safety accounted for 26 percent of the county’s expenses at $6,599,793; education was 24 percent at $6,202,220 and human services was 16 percent of expenses at $4,184,763, according to the audit report. 

Polk County’s fiscal year runs from July 1 through June 30. The new fiscal year for 2019-2020 began on July 1, 2019.