Valuation of the two properties exceeds $117 million, helping to keep services in tact for FY 2020.
MONTROSE — The Lee County Board of Supervisors moved closer Tuesday to settling on its budget for Fiscal Year 2020, crediting revenue generated by the Iowa Fertilizer Company and Dakota Access pipeline for keeping its finances afloat.
"Those two projects really helped save us when it comes to providing all the services for the county," said supervisor Ron Fedler.
Budget director Cindy Renstrom said the Iowa Fertilizer Company's taxable valuation of about $57 million, combined with a more than $60 million valuation for the oil pipeline, significantly helped Lee County's fund balances this year.
The fertilizer company completed its Wever facility in 2017 and the pipeline, spanning 1,172 miles from North Dakota to southern Illinois, was finished in Lee County the same year.
At a budget workshop Tuesday following the supervisors' regular meeting, Renstrom presented the proposed $30 million budget for FY '20, beginning July 1.
Chairman Gary Folluo said while he was glad to see a $3 million balance budgeted for the general basic fund, the rural services basic fund faces a $218,027 deficit, due largely to the secondary roads and sheriff's departments.
Renstrom recommended $3 million as a minimum amount to have in the general fund.
"We don't have much of a cushion," said Folluo, asking the department heads to go back over their budgets and see if additional savings were available. "It'd be nice to have a little bit of comfort in our general fund, a little bit of leeway."