Sarpy County CFO reports $155 million in year-to-date revenue, $127.5 million cash balance; inheritance tax receipts double budget so far

Dan Tilakas, Sarpy County chief financial officer, presented the county's fiscal dashboard for quarter 3 of fiscal year 2025 at the April 29 meeting, reporting year-to-date revenue of $155,000,000 and a total county cash balance of approximately $127,500,000 as of March 31.

Tilakas told commissioners that the $155 million in revenues represents 89% of the current-year budget and that local revenues are at 99% of budget. "Revenues for the current fiscal year at $155,000,000 which is 89 percent of the current year budget," he said. He identified several local revenue sources running ahead of budget, including passport fee revenue in the clerk's office, interest on investments, recovered election costs and building permits.

Tilakas also reported that the county has not tapped its cash reserves. The general fund cash balance is about $46 million, which includes a $19 million reserve. Public-works funds hold about $31 million; the landfill fund had $5.6 million in cash, of which $4.3 million is a post-closure requirement; the sewer fund had about $2.6 million set aside for a wastewater loan reserve; and the county's health-insurance fund included a $1.4 million employer-funded reserve.

On expenses, Tilakas said the county had spent about $139,000,000 year to date, roughly half the total budget. "On the expense side, we've spent a hundred and $39,000,000 which is just under 50% of the county budget," he said. Personnel services across funds are at roughly 72% of budget; the county is tracking a 75% trigger for some budget lines.

Inheritance tax revenue was a notable outlier. The inheritance-tax budget is $2.5 million; as of March 31 the treasurer's office had collected about $4.8 million in inheritance-tax receipts, Tilakas said, and roughly $2 million of that total came from a single payee. "As of March 31, the treasurer's office has taken in, $4,800,000 in inheritance tax revenue. So well more than double of the budget," Tilakas said.

Tilakas also summarized the county's self-insured health plan performance, reporting $17.1 million in revenue and just under $14 million in claims paid over the plan lifetime (December 2023'March 2025), leaving a $3.4 million cash balance that includes the $1.4 million county-funded reserve.

He gave commissioners a high-level look at outstanding county debt and noted that principal and interest repayments total about 4.7% of the county budget. He said departmental budgets for fiscal year 2026 were due to the fiscal office the next day.

Ending

Tilakas closed by reminding commissioners that detailed quarterly financials and related reports are available on the county's fiscal-and-budget web page.