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Buncombe County reports shortfall in FY25 revenues, fund balance below policy threshold
Summary
Finance director presented unaudited FY25 fourth-quarter numbers showing general fund actuals of $466.2 million against an amended budget of $483.8 million, an available fund balance of $68.1 million (14.6%) below the county policy target of 15%, and ongoing discussions about protecting the county's AAA bond rating.
Buncombe County officials on Nov. 4 presented an unaudited fourth-quarter financial update for fiscal year 2025 that shows revenue shortfalls tied in part to recovery from Tropical Storm Helene and growing reliance on intergovernmental grants.
Melissa Moore, the county’s finance director, told the Board of Commissioners the amended general fund budget for FY25 was $483.8 million while year-to-date actual revenue totaled $466.2 million. The presentation attributed a roughly $3.1 million drop in ad valorem tax revenue and about a $1.2…
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