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Larimer County budget staff present $87 million 2024 surplus, warn of structural shortfall without savings or new revenue
Summary
Larimer County budget staff told commissioners that while 2024 closed with an $87 million net surplus driven largely by delayed capital spending, many of those funds must be rebudgeted for 2025 projects and the county faces a structural general-fund gap without $6 million in planned savings or state relief.
Budget staff for Larimer County told the Board of County Commissioners on March 26 that unaudited 2024 figures show a countywide net surplus of about $87 million but that most of the money reflects capital and timing delays that will be carried forward into 2025.
The forecast and carryover presentation from Matthew Bohunan, budget team lead, and Alex Jordan, budget analyst, explained the mechanics and effects of the formal carryover process. Bohunan said the county must amend the adopted budget to move unspent 2024 funds into 2025, noting: "if there's any unspent funds from the prior year that need to roll over for expenses in the next year, we have to do a formal carryover process." The presentation showed $8.3 million of revenue above budget against $79 million in underspent expenses across funds, producing the $87 million net surplus.
Why it matters: Commissioners were cautioned that the headline surplus does not mean discretionary funds are available. Many large projects — notably landfill closure and the new North Landfill and transfer station — are budgeted in 2024 but expected to be constructed and…
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