Sales taxes and grants each contributed an additional 12% to county revenues.
BY DAN HILDEBRAN
Monitor Editor
GREEN COVE SPRINGS— Clay County Clerk of Courts Tara Green said external auditors gave the county an unmodified or clean opinion for the county’s 2020-2021 financial statements.
Green said the county’s financial position is strong with assets exceeding liabilities by $464.5 million. The county also reduced its net pension liability to the Florida retirement system to $47.2 million, down from $112 million at the end of the previous year. Green said the pension liability decrease was due to market and investment conditions which she described as fluid.
County revenues exceeded expenditures by $49.7 million, and the county’s debts totaled $228.5 million.
The county received 39% of its revenues from property taxes and an additional 17% by charging for services such as permits and garbage collection.
Sales taxes and grants each contributed an additional 12% to county revenues.
Spending less than budgeted
The county’s financial statements highlighted several line items in which the county did not spend as much as commissioners budgeted. Those included:
—Professional services for the CDBG Voluntary Home Buyout was a positive variance of $4,282,841 as the program carried over to fiscal year 2022;
—Anticipated repairs and maintenance expenditures in parks and recreation did not occur as COVID-19 projects took priority resulting in a positive variance of $1,230,208;
—Anticipated repairs and maintenance expenditures in buildings and grounds did not occur resulting in a positive variance of $1,204,877;
—Salaries and related benefits were reimbursed for public safety from CARES Act funding generating the majority of the positive variance of $664,435;
—Workers’ compensation claims were 32% lower than fiscal year 2020 resulting in a positive variance of $640,273;
—Capital expenditures in parks and recreation, building, fleet and fuel management did not occur resulting in a positive variance of $1,849,206.
$17 million for roads, patrol cars and other assets
County departments spent nearly $17 million on capital assets, bringing the county’s total investment in capital assets, net of depreciation to $383.7 million. The county’s major capital expenditures for the year were:
—Purchase of three county buildings of $5,469,747 to be used for various county facilities.
—Construction and improvements to county roadways of $4,625,132 from funds other than bond funds.
—Public safety equipment of $2,057,830 consisting of one firetruck and seven ambulances.
—Fifty-eight Sheriff’s Office vehicles for a total of $1,905,184.
—Radio Tower upgrades of $1,847,508.
