IN A TIGHT BUDGET YEAR, IT'S SMART TO THINK SMALL (2024)

Published Jan. 17, 2010|Updated Jan. 19, 2010

Think small.

It could be the Hernando County motto for 2010.

Gathered in a goal-setting session last week, Hernando commissioners focused their attention on topics for the coming year and three of the top eight concerns dealt with county workers: morale, safety and training.

Clearly, human resources are vital to and a top strength of any organization. Well-trained workers and those promoted to supervisory roles increase productivity and reduce the potential for liability. They deserve a safe work environment. But don't expect morale to improve significantly until the county has the ability not just to preserve jobs, but to financially reward performance.

That brings us to the commission's top concern so accurately characterized by Commissioner David Russell as the 600-pound gorilla: the county budget. It is forecast at a $4.4 million deficit for next year even with $3 million added to the revenue ledger from reserve accounts.

It's the reason for the focus on remaining initiatives: consolidated services, streamlined permitting and new business development. Greater government efficiency and an expanded tax base will be required to dig Hernando out of the budget doldrums brought on by a crashing real estate market, reduced property values, increased tax exemptions and recession-driven declines in sales and other tax receipts.

Okay, so maybe you have to think small when a 600-pound gorilla is squashing any big thinking.

A separate tax to pay for existing services appears dead even though County Administrator David Hamilton pointed out that $43 million, or 39 percent of the county's general fund, is tied to the Sheriff's Office and the jail.

"We obviously have a problem," agreed Russell. "The last thing in the world we need to be considering is increased revenue through increased taxes."

Well, it is an election year, you know.

But what about a tax to pay for new services? It is a suggestion from former County Commissioner Len Tria. He thinks the county should install central water and sewer in Royal Highlands and authorize a new municipal taxing district to pay for it.

Frankly, it is a big, specific idea and shouldn't be dismissed as unworkable or too risky politically. It's not even new. Tria made the same suggestion during the 2005 update to the comprehensive land use plan.

He told commissioners then, "You wouldn't let a developer do what you're allowing to be done - develop units on dirt roads with no water and no sewer."

His idea is to invest in infrastructure, business development and environmental protection and it is worthy of commission consideration as a goal for the not-too-distant future after tackling the smallness of 2010.

Nobody mentioned a timely byproduct. But, Tria's pitch, if successful, diminishes an argument from the backers of the proposed Quarry Preserve in northern Hernando. They stated their massive development is necessary - despite staff concerns of sprawl - because much of the rest of the residential land in the county is too inferior to bother counting in Hernando's housing inventory.

Four days before commissioners heard that argument from Quarry Preserve, Tria urged commissioners to consider the utility improvements for the sprawling Royal Highlands area of northwest Hernando. Doing so, he said, would head off the potential of saltwater intrusion from 14,000 homes sucking 3 million gallons of ground water each day via individual wells. That's not even counting water used for irrigation.

"I think they're looking at a ticking time bomb," Tria said later.

More to the point, an approved water and sewer system could be done in conjunction with paving the area's lime rock road network that now can only be improved on a piecemeal basis as property owners agree to a paving assessment. It would help curb the frequent complaints from residents there who grouse about the dust and feared pulmonary health risks.

Think of Tria's suggestion as a government-encouraged community development district, the financing tool now used commonly to pay for up-front infrastructure costs in a new subdivision. It would increase the value of property in Royal Highlands, improve the quality of life of existing residents and simultaneously focus new housing in an area already approved and platted for residential growth.

Encouraging growth in a suitable location. That shouldn't be such a big idea.

IN A TIGHT BUDGET YEAR, IT'S SMART TO THINK SMALL (2024)

FAQs

What should be considered when setting a budget in EverFi? ›

financial goals, current expenses, and income.

Why is using a budget beneficial for everfi? ›

A budget can help you keep track of your money. A budget can help you make plans to reach your financial goals. A budget can help you decide the importance of your expenses.

What does tight on a budget mean? ›

: involving a relatively small amount of money for planned spending. She started her business on a small/tight/shoestring budget and could not afford to overspend.

What is the idiom for tight budget? ›

If you do something on a shoestring, you do it with a very small amount of money: The film was made on a shoestring.

What needs to be considered when setting an effective budget in EverFi Quizlet? ›

Financial goals, current expenses, and income.

What 3 things should be considered when setting a budget? ›

Creating a budget
  • Step 1: Calculate your net income. The foundation of an effective budget is your net income. ...
  • Step 2: Track your spending. ...
  • Step 3: Set realistic goals. ...
  • Step 4: Make a plan. ...
  • Step 5: Adjust your spending to stay on budget. ...
  • Step 6: Review your budget regularly.

What is the term for tight budget? ›

Shoestring is a slang term used to describe a small amount of money that is not enough to cover its intended use. The term often describes the budgeting process as in "shoestring budget." People or companies that live on a shoestring budget usually have limited access to additional funding.

How do you say budget is tight? ›

Synonyms for tight budget in English
  1. small budget.
  2. budget constraint.
  3. budgetary restraint.
  4. shoestring budget.
  5. budgetary constraint.
  6. budgetary limitations.
  7. budgetary restrictions.
  8. budget restrictions.

How tight should my budget be? ›

Allow up to 50% of your income for needs, including debt minimums. Leave 30% of your income for wants. Commit 20% of your income to savings and debt repayment beyond minimums. Track and manage your budget through regular check-ins.

What is the opposite of tight budget? ›

We say "a healthy budget".

What is a word for tight with money? ›

Stingy, parsimonious, miserly, mean, close all mean reluctant to part with money or goods. Stingy, the most general of these terms, means unwilling to share, give, or spend possessions or money: children who are stingy with their toys; a stingy, grasping skinflint.

How do you use on a tight budget in a sentence? ›

They have saved the deposit but are operating on a tight budget. It was also a tight budget from the point of view of including this project for nuclear high-energy physics. I am pleased that we have managed to set up some tight budget targets and even go on and meet those targets.

What to consider when preparing a budget? ›

If you're ready to roll up your sleeves and crunch some numbers, here are six steps to get you on your way.
  1. Assess your financial resources. The first step is to calculate how much money you have coming in each month. ...
  2. Determine your expenses. ...
  3. Set goals. ...
  4. Create a plan. ...
  5. Pay yourself first. ...
  6. Track your progress.

What should I consider in my budget? ›

This includes needs, like your electricity bill and groceries; wants, like streaming TV subscriptions and take-out; and even planned savings, like monthly contributions to your 401(k) or emergency fund.

What needs to be considered when setting an effective budget brainly? ›

Explanation: When setting an effective budget, it is important to consider your needs, wants, savings, and goals. These components help define your financial priorities and guide your spending.

What should be considered when setting a budget: needs and wants, savings, time management goals, needs, wants, and savings? ›

Goals: Determine your financial goals and prioritize them when allocating funds. Needs and wants: Differentiate between essential needs and discretionary wants when allocating your budget. Savings: Set aside a portion of your budget for savings to build an emergency fund and achieve long-term financial goals.

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