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Budget director reports FY 2025 surplus and healthy reserves; FY 2026 first-quarter receipts steady
Summary
Budget Director Cheryl Holland reported preliminary FY 2025 results showing a surplus and an unassigned fund balance above the county’s policy target. The board heard that FY 2026 first-quarter revenues are tracking well but that most real-estate and personal property tax receipts are still forthcoming.
Budget Director Cheryl Holland presented a preliminary financial report showing a surplus in fiscal year 2025 and a healthy unassigned fund balance for James City County. She also summarized first-quarter results for fiscal year 2026 and explained timing differences that affect early-year comparisons.
Holland told the board that general property taxes — primarily real estate — are the county’s largest revenue source and that FY 2025 increases mainly reflected a reassessment year. Preliminary FY 2025 figures…
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