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Belknap County finance director reports $811,688 revenue uptick; expenses show mixed results
Summary
Finance director Lori Sharp told commissioners the county is projecting about $811,688 more in revenue largely because of a higher ProShare payment; some departments show surpluses while dietary and rehab services project deficits and a sewage grinder claim is pending with insurer PrimeX.
Lori Sharp, Belknap County finance director, told the board that county revenues are projecting an $811,688 surplus driven largely by a higher-than-budgeted ProShare payment.
"We have a little bit of good news," Sharp said as she reviewed revenue and expense lines. She said the county learned last Thursday that the ProShare payment will be $2,849,002.60, about $349,002.60 more than budgeted, and that overall she is projecting an $811,688 revenue surplus.
Why it matters: Sharp said those revenue gains, paired with an expected $114,623 expense surplus, would add roughly $926,003.11 to the county's fund balance by the end of February 2025. She reported a cash position of approximately $6,000,000 and said the extra revenue could push a second borrowing need later into the year, to about October.
Department-level details
Sharp presented department variances: the sheriff's office was projecting a $4,800 surplus tied to vehicle financing; corrections a $38,000 surplus largely from dietary savings tied to a lower-than-budgeted census; nursing home operations projected a $176,000 surplus tied to private-pay census; rehab services projected a $30,000 deficit related to health insurance and a position change; and dietary services projected a $134,945 deficit due to higher food and supply costs.
Sewage grinder claim and insurance
Sharp said a failed sewage grinder and a jail toilet replacement had driven unexpected facilities costs but that the county filed a claim with insurer PrimeX. "PrimeX is going to pick up the cost on that," Sharp said, noting the county's deductible leaves the county paying about $1,000 (Sharp later described total outlays and pump-cleaning costs that amount to roughly $1,500 to $2,000 on the event). She said PrimeX has expanded coverage to fill gaps previously uncovered.
Timing and follow up
Sharp told commissioners the county is 44% through the fiscal year as of February 2025 and that some recoveries (Health & Human Services, deeds) tend to increase later in the year. She also asked departments to keep tracking unexpected costs so the commissioners can consider whether to release or hold projects now on pause (carpet extractor, cracked ceiling, arborist work) pending clarity on heating-fuel line expenses.
Ending
Commissioners received the financial update and asked staff to continue tracking billing and recovery items; Sharp said she will provide numbers for future meetings and for the budget process.
