Sarpy County reports $155 million in revenues through Q3; inheritance-tax surge and cash reserves discussed

Sarpy County’s chief financial officer, Dan Telekis, told commissioners on April 29 that the county recorded $155,000,000 in revenues through March 31, representing about 89% of the current fiscal-year budget, and reported a total county cash balance of approximately $127,500,000.

"Revenues for the current fiscal year [are] at $155,000,000, which is 89% of the current year budget," Telekis said, summarizing the county’s quarterly financial dashboard and noting that local revenues were at about 99% of budget and federal revenue was running about 107% of budget largely because of a U.S. Marshals contract.

Telekis detailed highlights and risks: passport-fee revenue is running roughly $80,000 over budget; the inheritance-tax budget was $2,500,000, but the treasurer’s office had collected about $4,800,000 as of March 31, with approximately $2,000,000 of that total attributable to a single payee. Telekis cautioned the board that inheritance receipts can be unpredictable and discussed pending state legislation. "LB 468, with amendment 874, does include replacement revenue for any reduction in inheritance tax... There is another amendment, amendment 1069, that phases out inheritance tax with no replacement revenue," he said, noting the outcome remains uncertain.

On the expense side, Telekis told the board countywide expenditures were about $139,000,000 to date and personnel services in the general fund were at roughly 72% of budget. He called attention to specific cash balances: the general fund held about $46,000,000 (including a $19,000,000 reserve), public-works funds about $31,000,000, a landfill fund cash balance of $5,600,000 with a $4,300,000 post-closure requirement, a sewer fund reserve of $2,600,000 for an NDEE loan, and a $1,400,000 employer-funded reserve in the health-insurance fund.

Telekis also presented figures for the county’s new self-insured health fund, reporting approximately $17,100,000 in plan revenue and just under $14,000,000 in claims paid through March 31, leaving a $3,400,000 cash balance that includes the $1,400,000 employer-funded reserve. He said the county’s total debt-service principal and interest represent about 4.7% of the overall county budget.

Telekis said departmental budget submissions for the next fiscal year were due the following day. No formal action was required; commissioners asked clarifying questions about inheritance tax, passports and how anticipated projects such as the Platteville Road bond issuance would appear on future debt charts.