Floyd County approves Fiscal Year 2025 budget, tax rates

By Bob Steenson, bsteenson@charlescitypress.com

Floyd County supervisors approved the official county budget for the new fiscal year that will begin July 1, after holding a public hearing that received no public comments.

The budget reduces both the countywide levy rate that all Floyd County taxable property owners pay, and reduces the additional rural services levy that people who live outside incorporated cities pay.

The debt service portion of the county tax bill increased significantly, however, to begin paying off about $5 million in bonds issued to pay for a new countywide communications system. The total countywide tax levy including the debt service will increase a tiny 0.7%, while the total county tax levy for people in rural areas will decline by 0.5%.

Actual tax bills will depend on whether property owners’ valuations changed, and what the other taxing authorities – especially school districts and cities – did with their levies.

County Auditor Gloria Carr gave a rundown of the budget, explaining how changes in Iowa Code passed by the Legislature and signed by the governor affected the county budget.

Even though the county’s taxable property values grew by about 5 or 6% in the various taxing categories, state law limited the taxable growth in the general basic fund to 3%, and limited growth in the rural services fund to 2%.

That still allowed the county to increase its total tax collections despite a decrease in the tax levy rate.

Overall, the countywide (General Basic, General Supplemental and Debt Service) tax rate increased from $6.29797 to $6.34000 per $1000 of taxable valuation; tax dollars increased from $6,211,786 to $6,684,238, an overall increase of $472,452

Countywide plus Rural Services tax rate decreased from $9.89264 to $9.84000 per $1,000 taxable valuation; tax dollars increased from $8,501,493 to $9,040,755, an overall increase of $539,262.

“I think we did a very good job with the budget,” said Supervisor Chair Mark Kuhn. “I believe the budget is sound and leaves ending balances at or above 25%.”

Carr said one category that has helped with county finances over the past couple of years has been interest rates.

In fiscal year 2022 the county collected $124,290 in interest in the money in its accounts. In fiscal year 2023 that amount zoomed to $829,981 in interest because of higher rates, and especially because the county received more than $3 million in American Rescue Plan Act (ARPA) funds.

In the current year it was estimated the county would receive about $600,000 in interest, but as of the end of March that amount was already $682,188, Carr said. The county is budgeting to receive $500,000 in interest on accounts in the next fiscal year.

The supervisors also approved the salaries for elected county officials, reducing the recommendations made in December by the Floyd County Compensation Board by 20%.

The new elected officials salaries that will begin July 1 are:

• Sheriff – increase from current $104,913 to $113,356 (8%).
• Auditor – increase from $75,314 to $79,441 (5.5%).
• Recorder – increase from $74,653 to $77,681 (4.1%).
• Treasurer – increase from $74,653 to 78,177 (4.7%).
• County attorney – increase from $84,000 to $86,352 (2.8%).
• Board of Supervisors – $40,098 for each of three (0% – supervisors have frozen their own wages each year since fiscal year 2021)

Most county employees will get a 3% pay increase on July 1, although several specific positions received higher increases. County deputies are paid a percentage of the sheriff’s salary, so they will also get 8% pay increases, plus their longevity pay eligibility was increased.

Carr also summarized some additional budget changes, including:

• Conservation Department purchased a new skid loader and brush mulch brusher for $120,990, paid partly in this year and the rest next fiscal year. As a result of this expenditure park camping fees, facility rentals and land rent collected will not be transferred to the Conservation Reserve Fund in FY25.
• The county reinstated a 0% five-year loan for veterans that can be used to help purchase homes; up to four loans at $10,000 each will be available.
• New county election equipment including scanners/tabulators and ADA equipment was purchased for $78,087, to be paid over three years at 0% interest.
• Almost $200,000 has been budgeted to enclose the south side building entrances because of snow and ice build-up in those areas in the winter.
• A total of $605,725 will be paid in principal and interest for the new public safety communications system.
• The county’s cost of providing health insurance averaged a 3.5% increase.

Supervisor Kuhn also noted that an annual $100,000 transfer to the Secondary Roads Department had been restored.

Also at the meeting, the supervisors approved putting up three county vehicles for sale by bid. They are two 2016 Ford Explorer Police Interceptor models used by the Sheriff’s Office with 172,419 and 177,050 miles on them, and one 2008 Chevrolet Trailblazer that was used by the Conservation Department. Bids are due by 9 a.m. Monday, May 6, in the Auditor’s Office.