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Sedgwick County finance team reports strong 2024 year-end results; investment earnings rise
Summary
Deputy CFO Brent Shelton presented the county’s unaudited fourth-quarter financial report showing a $36.7 million revenue increase driven by assessed value, investment income and ARPA replacement; year-end general-fund balance remained above policy minimums and investment income rose to $15.7 million for 2024.
Sedgwick County’s finance staff presented the fourth-quarter 2024 financial report on Feb. 5, showing higher revenue driven by property-value growth, increased investment income and ARPA revenue replacement, and a net increase in fund balance.
Deputy CFO Brent Shelton reported the county’s 2024 results were unaudited and highlighted a $36.7 million year-over-year revenue increase in property-tax-supported funds and a $15.7 million total for investment earnings in 2024 (up from about $10.3 million in 2023). Shelton said the county’s investment portfolio reached about $779 million at year end and that the general fund’s unrestricted balance remained above the county policy minimum of 20% of budgeted expenditures.
Shelton reviewed drivers on both revenue and expenditure sides: a 7.6% increase in ad valorem collections, higher motor vehicle registration revenue, higher personnel costs tied to salary adjustments, and ARPA-related transfers and spending. He noted planned projects and transfers, such as a fire-district equipment reserve transfer and deferred IT work carried into 2025, as reasons for some year-to-year variances.
Commissioners asked for follow-up detail on capital projects (EMS Post 1 land cost and total project estimate), and the finance team agreed to provide project estimates and reserve-fund balances. The board voted unanimously to receive and file the presentation.
