Marshall County General Fund revenue projected to hit $20 million in 2026, council president reports

County Council President Tim Harman led a joint work session between the Marshall County Commissioners and Council on Monday, walking elected officials through a comprehensive 160-page presentation covering the county's financial snapshot, revenue trends, and projected year-end balance.

Harman highlighted the three main revenue sources for the county's General Fund — property taxes, income taxes, and miscellaneous taxes and fees — and showed how the balance between them has shifted over time. Historically, from 2011 to 2023, property taxes accounted for 50% of General Fund revenue, income taxes made up 31%, and miscellaneous taxes and fees contributed 19%.

More recently, that breakdown has changed: property taxes now represent 43% of revenues, while income taxes have climbed to 38%, with miscellaneous taxes and fees holding steady at 19%.

"Wages have increased, and our share of General Fund revenues are getting more and more toward the income tax side," Harman said.

He noted, however, that Marshall County does not receive all of the 1% income tax revenues generated within its borders. The county receives approximately 39% of that income tax revenue, with the remaining 61% split among the city, libraries, and townships.

Overall, Harman said annual General Fund revenues have grown steadily since 2011 and are on pace to reach approximately $20 million this year — nearly double what the county was bringing in 15 years ago.

Harman told officials that revenues have generally outpaced expenses over the period reviewed. The one notable exception was 2021 and 2022, when the county's courthouse renovation project caused disbursements to exceed receipts. Over the last four years, however, receipts have again exceeded disbursements.

Commissioner Jesse Bohannon put the revenue growth in perspective: "Even though we've got about twice as much money coming in as we used to, that money doesn't buy what it used to back in 2011, so it's not like we are taxing and spending like crazy. It just doesn't do what it used to."

Commissioner Adam Faulstich asked whether the county was still outpacing inflation with incoming revenues. Harman said he believed that would be true on the income tax side, though he was not certain across all revenue sources.

If no additional spending outside the approved budget occurs, Harman projected the county will end 2026 with a General Fund balance of between $11.8 and $12 million. He cautioned that any new decisions or financial uncertainties could affect that ending balance.