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Whitfield County posts $555,000 year-to-date deficit through March; fund balance $30.4 million
Summary
Finance director reported March collections of $10.4 million and expenditures of $14.7 million, producing a $555,000 deficit versus budget through March; projected year-end fund balance $33.5 million pending audit.
Whitfield County’s finance director told commissioners on May 12 that the county collected $10.4 million in revenue through March but spent $14.7 million, creating a year-to-date budget deficit of about $555,000.
Miss Godfrey, the finance director, said sales-tax collections through March totaled $3.7 million and TAV (vehicle) tax collections totaled $1.3 million. Year-to-date revenue was $443,000 below budget and expenditures were $111,000 above budget, she reported. “That creates a deficit of 555,000 as of March,” Miss Godfrey said.
The county’s actual fund balance as of March 31 was $30.4 million, and the projected fund balance at year end was $33.5 million, Miss Godfrey said. She cautioned those projections will change after the county’s 2024 financial audit is finalized; commissioners were told the audit results will be available in June.
On the county’s SPLOST 2024 account, Miss Godfrey reported $10.7 million in collections through March and $6.5 million in expenditures to date. When a commissioner asked whether the $6.5 million reflects only invoices paid or also includes signed but unpaid contracts, Miss Godfrey said it “only includes actual invoiced items.”
Commissioners moved to approve the March financial report; the motion carried 4-0.
