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Spalding County reports steady FY2025 revenues, cautions that encumbrances limit discretionary funds
Summary
Deputy County Manager/CFO Erica Tye presented June 30 fiscal year 2025 financials showing $70.7 million in revenues year-to-date, increases in expenditures and committed encumbrances for projects such as Heritage Park and renovations.
Erica Tye, the county’s chief financial officer and deputy county manager, presented Spalding County’s fiscal year 2025 financial results at the July 21 meeting of the Spalding County Board of Commissioners, reporting $70.7 million in revenues and describing a healthy operating position but notable encumbrances that limit discretionary spending.
Why it matters: The report shows the county collected property tax revenues and other receipts that produced strong year-end bank balances, but staff cautioned that much of the apparent surplus is already committed to projects and encumbrances.
Key figures and trends: Tye told the board that revenues reached about $70,700,000 by June 30 and rose 4% year-over-year. Expenditures rose 7% to $66.5 million for the year, with the General Fund showing growth from $5.46 million in July to $66.5 million in June. The county reported $57,000,000 in taxes (about 80.5% of total revenue), $5,100,000 in charges for services (7.3%), and $3,300,000 in intergovernmental revenues (4.8%), including grants and reimbursements. Investment income totaled $263,000 and contributions/donations $33,000. Employee salary and benefits made up 55.9% of expenditures ($37.1 million).
Encumbrances and committed projects: Tye warned that a portion of apparent year-end balances is not available for discretionary use because funds are committed to encumbrances, including Heritage Park and the renovation of “Jans” (as presented). The Truist Bank operating account peaked at $45.8 million in February after property-tax collection timing and stood at $33.6 million in June; total cash and investments across accounts were stated as $61.5 million on June 30.
Board action: Commissioner David Ledbetter moved to accept the presentation; the motion passed unanimously. No budget ordinance or appropriation was adopted at the meeting.
Ending: County officials said staff will continue to monitor revenues and expenditures and reminded the board that committed encumbrances will be paid in upcoming periods.
