CCRPC reports FY25 surplus; board approves 4% municipal dues increase for 2027
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Summary
The commission reviewed FY25 year-end financial results showing a $95,220 net income and about $1 million in cash, and approved a 4% increase in municipal dues for FY27 tied to the Employment Cost Index.
At its Oct. 15 meeting the Chittenden County Regional Planning Commission reviewed draft FY25 year-end financial results and approved a 4% increase in municipal dues for fiscal year 2027.
Forrest Cohen, business director, summarized the draft year-end financials and said the commission had about $1 million in the bank split between operating and reserve accounts. Cohen said accounts receivable were higher than the prior year and that net income for FY25 was $95,220. He told the board “this is a bunch of accountant gobbledygook” when reviewing certain balance-sheet items but emphasized the overall results were an improvement from the preliminary numbers previously presented.
Cohen noted that a large portion of the revenue increase in FY25 — total revenue of about $8.5 million, roughly $2 million more than FY24 — came from pass-through grants and consultant costs; the transportation program produced about $800,000 more revenue than the prior year. He also noted staff time ran about 101.5% of budgeted staff time and that expenses were at about 98.2% of budget, resulting in a modest surplus. Board members questioned the net pension liability disclosure related to VMERS (Vermont Municipal Employees Retirement System); Cohen explained the accounting rules require the agency to show its share of the liability on the balance sheet even if CCRPC will not directly be on the hook for the full amount.
On municipal dues, the board considered a recommended 4% increase tied to the Employment Cost Index (ECI) for state and local government employees. The dues fund is CCRPC’s primary source of unrestricted funds and is used in part to meet the federally required 20% match for transportation program funds. The 4% increase was the executive committee’s recommendation; the board moved, seconded, and voted unanimously among those present and voting to approve the revised dues schedule (the total change across municipalities was modest — the packet cited about $11,000 overall).
Questions from members raised operational details: a board member asked about a double-digit increase in common-area management (CAM) fees; staff said those reflect higher maintenance and salary pass-throughs from the landlord and that CCRPC expects standard CAM reconciliation documentation. Members also discussed the need for a timely first-quarter financial presentation (staff said it would be provided in early November) and potential seasonality in receipts early in the fiscal year.
Why it matters: municipal dues are CCRPC’s only unrestricted revenue source and are used to match state/federal transportation funds and support core operations. The FY25 results provide the board a snapshot of fiscal health heading into the new year.
