Carroll County finance staff reported Nov. 2024 financials at the Jan. 2 work session, saying county revenue totaled $42,646,877 and expenses were $32,363,426 for the month. The finance director said overall revenue is running slightly ahead of last year and that, compared with the adopted budget, revenue is at 53.3% of budget while expenses are at 40.5% of budget through five months.

"We ended November with a total revenue number of 42,646,877, and our expenses were 32,363,426," the finance director said. He noted expenses were about $2.8 million ahead of last year but remained generally in line with the adopted budget. The director noted that five months into the fiscal year corresponds to 41.67% of the year, so current expense pacing is slightly below that benchmark.

The finance director said local option sales tax and franchise-tax collections were trailing expectations but had shown signs of rebound based on late-December receipts for November sales. He said the general fund cash balance was slightly lower than last year but remained adequate.

On SPLOST (special-purpose local-option sales tax) accounts, the director said receipts were $2.639 million for the referenced period and that the 2021 SPLOST earned about $200,000 in interest last month. He said the county has been spending SPLOST 2021 funds on the judicial administration center (fifth floor) and government administration building on College Street and was winding down work at the Billerica fire station, with retainage to be settled in January or February.

Commissioner Miss Searcy asked about a decline in the interest line from 8.94 to 7.18 (percent or units as presented) and whether the change reflected market-rate movement, spending down project cash, or renegotiated rates. The finance director replied it was a combination of lower market rates and a cash balance about $1 million lower than last year.

The director also said the county spent about $250,000 on road striping this fiscal year; much of that work was funded through a state LMEC project.

There were no formal requests for action on the financial report at the work session; commissioners received the report and directed staff to include documentation in the regular meeting records.