Kingfisher County Commissioners took a closer look at the county’s finances Tuesday, September 8, reviewing a proposed fiscal year 2026-27 budget that includes an approximately $5 million carryover while also accounting for declining property valuations and lower projected ad valorem tax revenue.
No final action was taken on the budget. Commissioners tabled approval while waiting for additional financial information and required budget submissions from other taxing entities.
The County Excise Board will also review the budget information before final approval.
ABOUT $5 MILLION IN CARRYOVER
During the meeting, commissioners reviewed county financial figures dating back to fiscal year 2021-22.
For FY 2025-26, approximately $11 million in general fund revenue was reported, including about $5 million from ad valorem taxes, $3.7 million in interest income and $2.2 million from other sources.
Expenses and reserves totaled approximately $6.5 million, leaving a surplus of about $5 million to add to the county’s carryover.
The general fund helps finance many of Kingfisher County’s primary offices and services.
PROPERTY VALUES AFFECT REVENUE
One concern moving into FY 2026-27 is declining property valuations.
Ad valorem revenue is projected at approximately $4.4 million based on a rate of 10 mills. Declining valuations mean the county can collect less property-tax revenue even when applying the maximum millage rate discussed during the meeting.
Changes in personal-property valuations, including large assets such as oil pipelines, can have a significant effect on the county’s overall valuation and resulting revenue.
The county’s estimated overall general fund need for FY 2026-27 is approximately $47.6 million.
COULD THE TAX RATE BE LOWERED?
Commissioners also discussed whether the county could temporarily reduce its ad valorem millage rate, potentially providing some relief to taxpayers.
The rate can be adjusted annually, giving county officials the ability to reconsider it as financial conditions and revenue needs change.
No decision to lower the rate was made Tuesday.
SAVING FOR FUTURE PROJECTS
Another possibility discussed was establishing a capital improvements fund.
A portion of the county’s carryover could potentially be placed into the fund and reserved for major future expenses, including improvements to county facilities such as the courthouse or a county health facility.
Highway, sales tax and other county funds are accounted for separately and were described during the meeting as being in healthy financial condition.
For now, the proposed FY 2026-27 budget remains under review.
Commissioners indicated they want a complete financial picture before taking final action, including maintaining adequate reserves while preparing for future county expenses and capital projects.
