August 12, 2015

County expects revenue shortfall

By STU MERRY

McLean County officials expect to see a revenue shortfall of $500,000 for 2015. Last year it was $300,000 short.

County Auditor Les Korgel assured commissioners at their Aug. 4 meeting it is normal and due to a market change. County officials are projecting a revenue shortfall this year based on what has been received so far in 2015 and the projections for oil prices for the rest of 2015.

Commissioners learned government reimbursements are down due to lower oil and gas payments and PILT payments. The oil and gas payment in July was $44,000. The county had budgeted for income of $75,000 a month.

Korgel said outside the meeting oil and gas tax revenue received in July is based on oil production in May and prices in May.


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