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County staff present first draft of FY 2025–26 operating budget showing $1.12 million gap
Summary
An initial draft budget for FY 2025–26 shows projected revenues of $63,839,827 and expenditures of $64,964,401 (a $1,124,574 shortfall). Capital requests total $8,386,499 compared with a placeholder of $3,500,000, producing an early capital gap of $4,886,499. County staff said more workshops are scheduled before a June adoption deadline.
County staff presented the first draft of the Sumter County operating budget for FY 2025–26, reporting projected revenues of $63,839,827 and projected expenditures of $64,964,401, a preliminary deficit of $1,124,574.
The presentation noted the figures are early estimates and that further workshops and adjustments are expected before the budget must be adopted in June. Staff reported capital project requests presented to the council total $8,386,499, compared with a previously held capital placeholder of about $3,500,000, leaving a preliminary capital gap of $4,886,499. Staff said they will continue working with council over multiple upcoming workshops to balance the budget.
Council staff also reported the county completed a capital-penny sales tax bond sale. Four bids were received; Truist Bank was selected at a rate of 3.48 percent for a bond issue the county stated was $14,100,000. Staff said closing is scheduled for the week of April and that the funds will support the county’s capital-penny projects. No formal budget votes were taken at the meeting.
