Summit County spent more money than it took in last year.It was the third time in the last four years that general fund expenses outpaced revenue.The county took in $99.9 million in taxes and other revenue to its general fund, while it spent $101.7 million. County leaders used reserve funds to make up the difference.There was some good news, though, county Finance and Budget Director Brian Nelsen told the County Council during an end-of-the-year financial presentation Monday: Revenue beat expectations by about $680,000 and expenses were $2.3 million lower than predicted.In other words, the gap could have been much greater and the county could have been forced to dip deeper into its reserves, which now stand at $5.7 million. (The county also has a separate $25.3 million rainy day fund.)County revenue has fallen more than $11 million since 2008.Expenses also have dropped from $121 million that year.Nelsen and Councilman Nick Kostandaras blamed much of the revenue problem on the housing market, which has seen lower property values, fewer sales and lower sale prices in recent years. “The housing sector really continues to be the one true weak link in the economy here in Summit County,” Nelsen said.Property tax collections fell 9.4 percent to $19.3 million.Meanwhile, property transfer taxes — money collected when a property sells — increased 1.9 percent to $4.9 million, but that’s a far cry from $10 million several years ago, Nelsen said.A bright spot was sales tax, which climbed 4.6 percent to $35.9 million. That shows consumer spending is picking up, he said.As for the deficit spending, the county expects to outspend revenue again this year by $3.2 million.The county’s five-year forecast has the deficit spending ending in 2015.Rick Armon can be reached at 330-996-3569 or rarmon@thebeaconjournal.com.