STANFORD - The Lincoln County Fiscal Court met Tuesday to hold the final discussion of last year's financial report. With approximately $2 million in surplus for the new fiscal year, the county is ahead of the game and ready to develop future projects, said Judge-executive Buckwheat Gilbert.
The carry-over is due mostly to revenue collected from the occupational tax. The tax took effect in July 1999 and has since provided the county with much needed funding for road, water and park projects.
"We never had that much carry-over before the occupational tax," said County Treasurer Teresa Padgett. "We have a lot of projects that it's going to be earmarked for. It's not just going to lay there."
Padgett said approximately $500,000 will be transferred to the road fund and $1,020,000 is set for the general fund.
In addition to county projects, such as extending water lines and building the Cedar Creek Lake, the occupational tax has allowed the county to apply for and receive multiple grants.