Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Fiscal Close topic
No spam. Unsubscribe anytime.
Nelson County closes FY25 with carryover of about $3.7 million; auditors will adjust accruals through September
Summary
County staff reported a FY25 cash-basis surplus that yields a $3,692,072 carryover; auditors will perform accrual adjustments through September that could change final audited numbers.
Nelson County staff reported July 8 that fiscal-year 2025 closed with a cash-basis surplus that produces an FY25 carryover the county will use for one-time expenditures and capital needs.
Key figures presented: the county reported FY25 revenues (including beginning balance) of $51,663,619 and expenditures of $47,971,548, yielding a difference of $3,692,072 available as carryover. Of that amount, $3,000,002.72 (approximately $3.0 million) was already projected and budgeted into FY26 as carryover for capital outlay and one-time costs; the remaining approximately $419,772 will offset a $600,000 draw for four school buses.
Staff cautioned that auditors will accrue FY25 revenues and expenditures through September, and those modified-accrual audit adjustments could change the final audited results. Staff provided attachments including preliminary revenue/expenditure details and noted local revenues exceeded amended budget by $167,715 while federal revenues came in $230,101 lower than budgeted (reimbursement timing explains shortfalls).
Other financial notes in the report included meals-and-lodging numbers (823 lodging units for the month) and the region's tipping-fee decisions (Region 2000 Service Authority adopted $34/ton member and $44/ton non-member tipping fees and a FY26 budget of $7,924,682).
