Olmsted County shares 2023 budget information
(ABC 6 News) – Olmsted County shared information about the 2023 budget which was approved by the Olmsted County Board of Commissioners on Tuesday.
The 2023 budget for Olmsted County and the Housing and Redevelopment Authority (HRA) combined totals $334,857,008. Of this total, $124,046,580 is funded with county and HRA property taxes of $119,479,427 and $4,567,153 respectively. The remaining $210,810,428 of the budget comes from intergovernmental revenues, charges for services, transportation taxes, bond proceeds, reserves, interest income, and other miscellaneous sources.
The county’s $119,479,427 property tax is a 5.9% increase over 2022.
“Our 2023 budget funds will be used to make investments in health, housing, and human services as well as initiatives to maintain and preserve our built and natural environments across the county. A number of additions to the budget represent new funding streams for programs in housing, mental health, and aging and care coordination,” said Olmsted County Administrator Heidi Welsch
Welsch went on to say inflation is a driver of many costs which impacts everything from the cost of cement to cybersecurity and health insurance. Welsch says the county has put many projects and equipment on hold to control as much cost as possible in order to manage inflationary pressures.
For more information regarding Olmsted County’s 2023 budget, CLICK HERE.