Supervisors approve another budget amendment

The Wright County Board of Supervisors approved a budget amendment at their regular meeting on Monday morning after a public hearing on the matter. The amendment made changes to the previous budget. One change that Auditor Betty Ellis pointed out was moving the ReNewTrient project into its own fund from the general basic fund. She noted there still may be future changes since they are not sure where some projects and payments will fall in the fiscal year, like the USDA loan the county is applying for. Ellis said the net difference between revenues and expenditures is $11,000 on this budget amendment.

            The board also held a public hearing on the proposed internal loan to fund the urban renewal project costs. This is also pertaining to the ReNewTrients project. Ellis said, rather than getting bids from local banks and paying hefty administrative costs, the county will take out an internal loan of $550,000 with 4% interest for a 10-year period. This will also allow for easy repayments when the $144,000 RISE grant comes in for the project and ReNewTrients pays the $15,000 annually they agreed upon. The plan was approved by the supervisors.

For the full story, see the Aug 15th edition of the Monitor