Local Government Funds Will Decline Again in 2010

July 28th, 2009 Posted by Finances 0 comments on “Local Government Funds Will Decline Again in 2010”

Clark County is estimated to lose more than a quarter million dollars in local government funds next year, while the city of Springfield will lose nearly $300,000, according to George Sodders, county auditor and secretary to the Clark County Budget Commission.  Sodders said that the County Budget Commission, which approves local distribution of the funds, will get about $5.5 million next year to distribute to all the county’s political subdivisions.   “All subdivisions will receive less,” Sodders said.   The commission approved just over $6 million this year.

The Local Government Fund is funded by 3.68 percent of all state General Revenue Fund tax sources.   Sodders received the estimate from the Ohio Department of Taxation late last week.

“Keep in mind that these numbers are only estimates and are likely to change,” Sodders said.   “For example, the total estimate given to the commission last year fell short by more than $200,000 and this year’s actual receipts are below estimate,” Sodders explained.

“As tax receipts continue to decline in the state’s General Revenue Fund, local government receipts will continue to slide, Sodders concluded.