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County reports strong investment earnings in Q4; board approves budget amendment, several letters and payables
Summary
Finance director Leslie Lewis reported higher-than-expected investment earnings and modest revenue gains year-over-year for FY2025 fourth quarter (unaudited). The board approved an amendment to the FY25–26 budget, authorized several letters and approved payables; the board also moved into and returned from a closed session.
Accomack County’s finance director reported higher investment earnings and modest revenue growth in fiscal year 2025’s fourth quarter during the Board of Supervisors meeting on Sept. 17. The board also approved a budget amendment for fiscal year 2025–26, authorized letters to federal and state officials, and approved payables.
Leslie Lewis, the county’s finance director, presented an unaudited fourth-quarter summary for FY2025. Lewis said major revenues — which she described as making up about 84% of the county’s total revenues — were up compared with the same quarter the previous year. Lewis reported $26,570,000 in major revenues for the fourth quarter of FY2025 versus $25,456,000 in the same quarter of FY2024, and a year-to-date total of roughly $65,000,000 compared with $64,000,000 the prior year. That represented a roughly 2.6% favorable variance year-over-year. Lewis also noted that the county had budgeted $1,081,975 in investment earnings but reached about $3,000,000 year-to-date.
Board members praised the treasurer and finance staff for the results. During discussion, supervisors also asked about smaller revenue streams: tipping fees at the landfill were discussed as down about 20% and building-permit revenues were down about 15%, items staff said would be investigated further to determine whether the changes reflect short-term timing differences or longer trends.
Nut graf: The financial report was unaudited but showed the county ahead of prior-year revenue results largely due to investment income. The board took several routine actions following the report, including approving a FY25–26 budget amendment and authorizing letters on navigation and federal issues.
Votes at a glance (actions recorded at the Sept. 17 meeting): - Resolution to amend the FY25–26 budget: motion passed (vote announced as carried). - Payables: board certified and approved payment of county bills. - Letter urging federal and state representatives to support keeping the Watcher Creek (Chincoteague/Coast Guard) station open: motion passed unanimously after a request from supervisors involved in navigable waterways concerns. - Motion asking staff to review a constituent tax-relief request and report during budget preparation: motion passed. - Motion requesting staff prepare and send a letter regarding the northeastern tiger beetle/endangered-species concerns and dredge-spoils siting to the congressional delegation: motion passed.
Ending: The board recessed into a closed session later in the meeting under Virginia’s code to discuss prospective business and real-property matters, then returned to open session, certified the closed session, and adjourned. Staff said they will return with follow-up information on tipping-fee and building-permit revenue trends, and will prepare requested letters and the budget amendment paperwork for filing.
