Board of Supervisors set to approve final budget Tuesday
Aug. 27—Kern County's final budget hearing and subsequent approval will be held at 9 a.m. Tuesday at the county Board of Supervisors chambers on Truxtun Avenue. Here's what you need to know:
At $4.4 billion, the final budget is larger than the $3.7 billion proposed at the preliminary budget hearings a couple of months ago. Once approved, this year's budget will be nearly $800 million more than what was adopted last August, reflective of a major shift in the county's finances.
"The FY 2023-24 Recommended Budget represents a balanced and responsible approach to managing the finances of our county, while continuing to provide essential services to our residents and making needed strategic investments in public safety, elections security and parks," wrote James Zervis, the Kern County chief administrative officer.
This final budget is the first to include Measure K funds, which will go toward "significant investments in public safety, education, homelessness and economic development." Various state and federal grant funds will be allocated to improve roads, and expand mental health services and other related programs.
New estimates find property values countywide total $122.5 billion, an increase of nearly $7.8 billion. This stems mostly from an 8% increase in residential, commercial and agricultural property values, a continued trend since 2016.
Since 2014, the county's total assessed valuation has increased 24.3%, or 2.7% each year. While gains are good, it is trumped by the 29% change in the consumer price index over the same period. Oil and gas valuations in Kern amount to 13% of the county's total property value next year — about half of what it was in 2014.
