Rowan County reports year-to-date revenue gains through February; property and sales tax receipts up

Rowan County finance staff reported the county’s cumulative revenues through February at $164 million and cumulative expenditures at about $127 million during the March 17 meeting.

The presenter, identified in the meeting as Anna, said cumulative revenues were up $11.4 million (7.52%) from the previous year and cumulative expenditures were up about $10.5 million (9%). Anna broke down the revenue changes: current-year property-tax collections through January were reported at about $107 million (up roughly $2.7 million or 2.58%); cumulative sales tax through the latest available month was about $18 million (up roughly $1.1 million); and interest income was up about $1.1 million. Anna also said the county repaid itself $3.7 million related to a loan for a new school, which contributed to the general-fund figures.

Other revenue increases cited included additional Department of Social Services receipts (about $870,000), ambulance-billing revenue for EMS (about $675,000) and recognized grant revenue for the sheriff’s office (about $531,000). Inspections revenue was said to be up by about $100,000.

Anna told commissioners that while some months show volatility, overall the county appears to be trending above last year’s figures and generally in line with budget expectations. She said December’s receipts were not yet fully reflected and that staff expected to receive those numbers within the week.

Commissioners asked clarifying questions about month-to-month volatility in sales-tax receipts and the presenter reiterated that the county is "trending right where we should be, according to budget." No formal action was taken on the financial report; it was presented for information.