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County finance director presents third-quarter financial report showing year-to-date revenue and investment balances
Summary
Finance Director Melissa Moore presented Buncombe County’s third-quarter financial results (period ending March 31): year-to-date general fund revenue $357.9 million, year-to-date expenditures $302.8 million, and cash and investments reported at $415.72 million across all funds.
Buncombe County Finance Director Melissa Moore presented the county’s third-quarter financial report at the May 20 meeting, covering primary operating funds, capital projects and the investment report for the reporting period that ended March 31 (75% of the fiscal year).
Moore reported year-to-date general fund revenue of $357.9 million against an amended budget of $444.2 million and described a projection of $416.3 million in new revenues used during the county’s April budget retreat. Year-to-date general fund expenditures were $302.8 million.
Moore detailed fund-level figures: the Solid Waste Fund had year-to-date revenues of about $10.2 million and expenditures of $8.9 million. Life-to-date capital project actuals were $62.6 million with year-to-date capital project expenditures of $10.7 million. Cash and investments across all funds were $415.72 million with 90% of that total held in investments; roughly 35% of the general fund portion was spendable fund balance.
Commissioner Ross asked about ad valorem tax collection rates, observing that a 95% collection rate this year is lower than last year’s third-quarter collection percentage. Moore clarified that the adopted FY25 budget assumed 3.5% revenue growth and that the county had appropriated fund balance in FY25 because expenditures were growing faster than revenue. She also pointed commissioners to Appendix B of the quarterly report (net county cost breakdown) for a detailed view of funding allocated across functions such as public safety, health and human services and education.
Why it matters: the report gives commissioners a mid-year view of revenues, expenditures, cash balances and capital project activity to inform budget decisions, including the FY26 recommendation presented later in the meeting.
Provenance: - topicintro: transcript block starting 881.52496–905.825 — "Hi. Good evening. So this evening, I'll present the third quarter financial results. We will cover the primary operating funds for the county as well as, county's capital projects and the investment report." (Melissa Moore) - topfinish: transcript block starting 1266.225–1269.105 — "I think commissioner Ross questions. Melissa? Yes, ma'am." (Melissa Moore)
