Sykesville council introduces FY2025 budget revision increasing revenues and expenses by $488,005

The Sykesville Town Council on Monday introduced Ordinance 2025-01, a fiscal year 2025 midyear budget revision that increases both recognized revenues and planned expenses by $488,005 and schedules a public hearing and adoption vote for the council’s next meeting on Feb. 24, 2025.

Joe (staff member) told the council the revision adjusts revenues primarily on the capital side and by re-estimating recurring receipts. “This is budget revision number 1 for f y 25. It does show an increase of 488,005, dollars, to our revenues and expenses,” Joe said. He said the revenue increases include an approximately $80,000 upward adjustment to income tax receipts based on now-available data to compute a three‑year rolling average, a reduction in state police aid tied to the state’s calculation, and stronger-than-expected interest income that the town now projects at just under $200,000 for the year.

The revision also recognizes use of restricted fund balance for the…