County CFO warns tax-stabilization reserve could turn deeply negative by 2028

Dave Del Grama, chief financial officer for New Castle County, told the Administrative Finance Committee on Oct. 14 that the county's reserves are shrinking and could fall into a significant negative position by 2028 unless revenues or assumptions change. "We began at $72,200,000," Del Grama said of the county's tax-stabilization reserve, and later said the reserve could be a negative "$63,200,000" in 2028 if no revenue adjustments are made.

The presentation covered the general fund and sewer fund. Del Grama reported total revenues for 2025 of about $249,400,000 (including some use of reserves) and unaudited total expenditures for 2025 of about $252,800,000. "When you add all those things up," he said, "our revenues fall under our expenses by $3,400,000 in '25." He said projected expenditures rise in the near term, driving…