Finance Department reports strong sales tax growth and upcoming business loan application

February 08, 2025 | Kewaunee County, Wisconsin


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Finance Department reports strong sales tax growth and upcoming business loan application
The Kewaunee County Finance Meeting held on February 7, 2025, focused on the county's financial performance and projections for the upcoming months. Key discussions included updates on revenue collections, departmental budgets, and upcoming financial decisions.

One of the most significant highlights was the report on sales tax collections. The county received $181,008.30 in January, marking the highest collection for the year. This brings the total sales tax revenue to approximately $1.6 million, which is nearly 4% higher than the same period last year. Officials noted that the final payment for the year is expected to be substantial, similar to previous years.

The meeting also addressed the county's budget status. It was reported that the finance department is currently over budget by about $4,900 due to an earlier-than-expected payment related to an open study. This payment, initially anticipated for the next fiscal year, was processed sooner than planned. Despite this overage, there were no other significant budget surprises reported across departments.

Looking ahead, the finance team will calculate year-end carryovers in March, which will be presented in April alongside any transfers from surplus or contingency funds. Additionally, a business loan application is expected to be completed soon, with plans to bring it before the finance committee in the coming weeks.

Overall, the meeting underscored a positive financial outlook for Kewaunee County, with revenue trends showing improvement and careful management of departmental budgets. The next steps will involve finalizing the loan application and preparing for year-end financial adjustments.

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Scribe from Workplace AI
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