Sedgwick County Commissioners received the county's financial report for the third quarter of 2022.
Brent Shelton, the county's Deputy Chief Financial Officer, says overall the county's fiscal condition is sound, with healthy fund balances. The tax base continued to grow with retail sales and use tax revenues up for the first nine months of the year. However, October showed the first decline of the year and Shelton speculates that inflation and rising interest rates may be having an effect. He adds that inflation may impact the county's cost of doing business going forward.
Rising interest rates will help the county's investment portfolio. As is the case with other organizations, workforce challenges and insurance market difficulties remain.
In related news, Commissioners approved a $605 thousand transfer from the county's general fund operating reserve to the Election Commissioner's budget. Most of the transfer will cover personnel costs, along with contractual costs like paying for polling site locations, moving and transportation costs.