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Pembroke Park finance director reports midyear surplus, highlights property-tax reliance and staff savings
Summary
Finance staff reported a midyear fiscal review showing $20.4 million in total 2024 revenues, $9.7 million in year-to-date revenues for 2025 and a midyear surplus of roughly $3 million; property taxes made up the largest share of revenue and most departments are under budget to date.
The town’s finance director delivered a midyear budget review showing year-end revenues of $20.4 million in 2024, $9.7 million in year-to-date revenues for fiscal 2025 (as of March), and an approximate $3 million surplus at midyear.
The presentation noted that property taxes account for the largest share of current-year revenues (the speaker reported that 88% of revenues received to date were ad valorem/property tax receipts), while charges for services — historically the town’s second-largest category — lagged budgeted expectations but are expected to catch up later in the year. The director reported that revenues in 2024 were a record for the five-year period and that the town’s compound annual growth rate for ad valorem receipts over five years was approximately 9.4%.
On the expenditure side, police and fire are the town’s largest cost centers, with contractual services (including a fire services contract) and compensation accounting for the major shares of spending. The presenter said all departments in the general fund were operating under budget at midyear, and that staffing levels were largely full; the Police Department had a few open slots and expected additional hires. The presenter also summarized the town’s top vendors and said 25 vendors accounted for roughly 85% of spend.
The finance director said the town holds about $3 million in ARPA (ARPA/ARCA referenced in the meeting) funds and that capital purchases and a community center project have been considered in planning. Commissioners asked follow-up questions about specific line items such as electricity year-to-date and asked staff to distribute the presentation materials to commissioners.
Town staff said they will continue monthly reporting, refine the monthly close and reconciliation process, and provide detailed vendor analysis as the budget process continues into the next fiscal year.
Key figures presented (as reported): total revenues 2024: $20.4 million; 2025 year-to-date revenues (as of March): $9.7 million; midyear surplus (approx.): $3 million; five‑year ad valorem CAGR: ~9.4%.
