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Bel Air receives FY2025 budget amendment; insurance dividend to fund employee bonuses
Summary
The Bel Air Board of Town Commissioners received a fiscal year 2025 budget amendment that nets a $106,056 increase to the general fund and applies a policyholder dividend to one-time employee bonuses; a public hearing on the amendment is set for July 21.
The Bel Air Board of Town Commissioners on June 16 received Resolution No. 12-54-25, a budget amendment for fiscal year 2025 that increases the general fund by $106,056 and allocates a policyholder dividend toward one-time employee bonuses.
Town staff described the changes at the meeting and highlighted key revenue and expenditure adjustments. “The total of the recommended adjustments for the general fund, is only an increase of a $106,056,” said Miss Moody, staff member, during the presentation. She listed increased real property tax receipts ($120,000), higher income tax receipts ($163,000), and an unexpected workers-compensation premium refund of $111,570 among revenue changes. The…
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