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York County projects small FY25 general-fund surplus but flags rising veteran tax exemptions
Summary
Finance staff reported a midyear forecast showing a modest overall surplus for FY25, driven by expenditure savings and higher-than-budgeted public-service-corporation assessments; the presentation highlighted a $2.6 million shortfall in expected real-estate tax growth and a continuing increase in state-mandated disabled-veteran exemptions.
Assistant County Administrator and Finance lead Susan Goodwin presented the county's midyear General Fund financial forecast to the Board of Supervisors on Jan. 21.
Goodwin said finance staff project the county will finish FY25 with a roughly $100,000 revenue surplus and approximately $2.9 million in expenditure savings (largely from personnel vacancies), producing a combined projected surplus near $3.0 million, or about 1.6% of the General Fund operating budget.
Key revenue points cited by Goodwin: - Real estate tax: projected to finish about $2.6 million below the FY25 budget due to lower-than-expected growth and increasing disabled-veteran exemptions; the latter increased to roughly $4.0 million in 2024 and represents an unfunded state mandate. - Public service corporation (utility) assessments: the county expects about $1.6 million above budget after receiving higher state assessments in September. - Other consumer taxes (sales, meals, lodging): largely tracking close to budget with modest variances.
Goodwin emphasized the growth in disabled-veteran tax relief: "Since 2011... our participation in that program has grown significantly," she said, noting that the program is state-authorized and locally unfunded.
Board members asked how the shortfall would be offset. Goodwin said the public-service-corporation surplus and expenditure savings largely offset the real-estate shortfall. She also cautioned that consumer-sensitive revenues will influence FY26 planning and reiterated that the county must monitor exemptions and cyclical collections.
Why it matters: The midyear projection informs upcoming budget planning for FY26 and the county's capital-improvement program; the growing disabled-veteran exemption and the timing of revenue collections may constrain available funds for capital transfers and services.
Provenance: presentation and Q&A by Susan Goodwin beginning at 01:03:13 on Jan. 21.
