After months of sparring over the sale of government bonds, a mistake in the sale of property tax debts and other financial matters, the Madison County Board received some good news yesterday - that the county may be in the best financial shape of any county in the state.
Representatives from the Scheffel Companies presented the audit for the fiscal year ending November 30th, to the board's Finance and Government Regulations Committee on Wednesday afternoon. The report reflected a $1-million increase in real estate taxes and a $4-million growth of investment earnings. It also showed a 15-percent decline in governmental expenses, resulting in a savings of $19.8-million. In total, the county's assets surpass its liabilities by $243-million, however only $31.5-million is available for use to meet the current needs of the county.