County Board Approves 2014 Balanced Budget

The County Board recently approved a balanced $488.3 million budget for fiscal year 2014. The budget has remained flat for the last three years and is $10 million less than five years ago due to reduced headcount and other money saving strategies, including operating more efficiently.

For example, utility costs are down significantly due to enhancing equipment and facilities to be more energy efficient. Another example is using technology to operate more efficiently, like accepting on-line payments and installing new water meters that automatically transmit data eliminating the need for someone to check it in person.

Lake County measures its performance across departments to explore ways to be more efficient. In the Planning and Building Department, for example, which is responsible for reviewing permits for construction and improvements and doing on-site inspections in the unincorporated area, cross-training employees has saved money by reducing staff time, thereby reducing cost and meanwhile, improving customer service.

Also, Lake County continues to focus on efficiencies through collaboration and shared services like joint purchasing with other government agencies.

The County Board has a strong track record of making smart budget decisions that consider the long-term fiscal impact.  The Board saves for big capital projects and pay with cash, keeping our debt service low –less than 1%.

Lake County continues to maintain AAA bond rating from both rating agencies. The AAA rating is based on several strengths, including strong budgetary performance, well-managed financial operations with strong financial policies and practices, healthy reserves and manageable debt.

To view the 2014 budget in its entirety, and learn more about the County’s budget, including where the money comes from and where it goes, visit Lake County’s Budget web portal.

Also, hear our budget story in this video!