2018 looks to be a promising year for Iron County. Due to the positive effects of a growing local economy and active management of expenses, Iron County is financially strong and healthy. In fact, this year the county has budgeted to payoff of the Courthouse Remodel bond. When this happens, Iron County’s General Fund will be free from any debt service payments. While the county will still be paying on two bonds, the payments on these bonds come from special revenue sources and their interest rates are sufficiently low. The new Public Safety Building bond is paid for by lease revenue contracts with Utah State agencies and the new Shakespeare Theater bond is paid from Tourism taxes.
Additionally, Iron County has provided incentives necessary to entice large utility-scale solar firms to invest millions of dollars in Iron County. This has increased property tax revenue for the various taxing entities involved, including Iron County.
The story of Iron County’s path to financial strength has also included managing the expense side of the equation. In recent years, the Commission made the decision to sell the Ambulance service to Gold Cross. To say this process was painful would be an understatement. However, the results have been a boon to the finances of the county. This combined with a frugal approach to budgeting expenses has saved much.
A final point worthy of mention is in the 2018 budget, management has made some significant modifications to structure of the budget and the method of doing inter-fund transfers. The result is a more logical budget that is easier for the lay individual to read and understand.