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Wednesday, January 25, 2012

SUSSEX: County reports $3.5M surplus for FY 2011

GEORGETOWN — Sussex County says it has recorded an almost $3.5 million surplus for fiscal year 2011.
The county council accepted an audit Tuesday by the accounting firm Jefferson, Urian, Doane & Sterner that showed the surplus. County Finance Director Susan Webb attributed the gain to continued austerity measures, such as early retirement offers and delaying purchases.
County officials say they plan to return about a $1 million to taxpayers in the form of a one-time tax credit this year. The rest will go to county pension funds, law enforcement, land preservation and various grants.

It is the second consecutive year that Sussex County has had a surplus. The county saw a gain of about $600,000 in fiscal year 2010.

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