Stafford County adopts midyear financial actions, authorizes arbitrage repayment and releases part of appropriation hold

Chief Financial Officer Andrea Light told the Stafford County Board of Supervisors on Jan. 21 that the county’s midyear financial picture has improved but requires close monitoring around real estate revenue and health insurance costs.

“All $29,000,000 has been obligated,” Light said of American Rescue Plan Act funds, underscoring that ARPA commitments are in place while most funds already are expended. She also told the board that real‑estate tax revenue is tracking about 2.1 percent, roughly $5 million, below budget so far while personal property revenue is outperforming expectations by about $5 million.

The board approved three resolutions presented with the midyear report. The actions follow staff recommendations to budget and appropriate positive results of operations from FY2024, to set aside funds to cover excess interest earnings on school bond…