The wait continues for funds from the tax collector’s office to be posted within Yazoo County’s general fund balance. And county leaders are concerned about the cash balance within the general fund to cover necessary expenses, including insurance and payroll.
County Administrator Donna Kraft said the county’s cash balance in the general fund, as of the end of March, was about $938,000.
“I am glad you did not approve a lot of expenses today because until something happens, I am kind of on edge about what is being spent,” said Kraft, during the Yazoo County Board of Supervisors meeting last Friday. “I want to make sure there is money in the bank to cover it, and that includes payroll.”
Kraft said, according to financial reports, fund settlements have not been provided to the county from the tax collector’s office in a timely manner. Currently, there is about a $2.7 million shortage from the funds provided by Irvine from this time last year.
Within the general fund, as of January through March of 2022, collections from the tax collector’s office totaled $4,422,387.
According to the financial records from 2022, settled funds provided to the county from the tax collector’s office were:
January 2022: $403,909.64
February 2022: $2,362,158.79
March 2022: $1,676,319.47
There is currently about a $2.7 million difference in those figures in comparison to this year’s records. According to the financial records of 2023, settled funds provided to the county from the tax collector’s office were:
January 2023: $439,204.01
February 2023: $1,314,734.69
March 2023: $0
Although the county has other revenue funds, the general fund has a significant shortfall with the lack of settlements from the tax collector’s office, Kraft added.
“We have posted some receipts of other revenue that has come in,” Kraft said. “I checked this morning, and we are back to $1.3 million. I am only watching the general fund because that is the biggest one and that is where most of our expense comes from…”
“What was collected in February should have been settled to the county by March 20,” Kraft continued. “I have received zero in March. There has been no settlement for February and March’s settlement is due by April 20. Nothing has been settled with the county for February. And March is due by the 20th of April. I don’t expect to get that.”
Kraft said the general fund’s expenses range about $450,000 to $500,000 a month. With the current figures, there are only enough funds to last about 60 to 90 days.
