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Finance director outlines FY25 year-end, transfers and proposed amendments; $2.4M to return to general fund
Summary
Loudon County finance staff reported a $704,794 year-end decline in the general fund (FY24 audit to FY25 year-end) but said proposed amendments would return about $2.4 million to the general fund and recognize school bond encumbrances exceeding $92 million.
Loudon County finance staff presented a year-end financial summary and proposed budget amendments at the Aug. 18 workshop that will be included on the upcoming voting agenda.
Finance Director Erin Cameron (presenting) said the county27s general fund balance decreased by $704,794 from the FY24 audit to the FY25 year end. She noted an earlier transfer of $2.8 million out of the general fund for cash-flow purposes on a set of projects; the current-year amendments discussed at the workshop include returning about $2,436,141 to the county general fund, which would have shown as an approximate $1.7 million increase if the timing had matched the prior fiscal year.
Cameron walked the commission through several specific items the…
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