Seminole County approves $75 million midyear budget adjustment to reconcile fund balances

Seminole County commissioners on Tuesday approved a $75 million midyear budget amendment to reconcile budgeted FY25 beginning fund balances with audited FY24 fund equities.

Timothy Jeks, budget manager in the county Office of Management and Budget, told the board the amendment — advertised May 8 in the Orlando Sentinel — “reconciles budgeted FY25 beginning fund balances to the actual fund equities reported in the 2024 ACFR.” The amendment includes $32 million budgeted revenue for nine months of collections for the fourth-generation sales tax fund, $39.7 million in fund-balance adjustments, roughly $2.9 million in FEMA receivables and $670,000 in interfund transfers.

The county auditor reported $90.3 million in unassigned fund balances in the audited comprehensive financial report. Jeks said FY24 ending fund equity in the general fund was about $110 million. The FY25 budget included an adopted $20 million structural deficit, and after two BARs totaling $17 million and other nonspendable assets, the county expects approximately $65 million in available balances heading into FY26. After the approved BAR the county-wide fund balance is projected at about $856 million.

Jeks presented a breakdown of key restricted funds: about $186 million in the water and sewer fund, $191 million in the infrastructure sales tax fund, $97 million in the 5‑points bond fund and $81 million for fire services. Commissioners had no public questions, and the board voted unanimously to approve BAR 25‑035 as presented.

The board discussion was brief and limited to clarifying questions; there were no amendments to the item. The item was presented, opened for public comment (none), and adopted by unanimous vote.

Looking ahead, staff said the BAR leaves the county in position to begin FY26 budgeting with roughly $65 million in undesignated resources, and commissioners will consider further budget priorities in that upcoming process.