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County finance director reports FY25 results: revenues exceeded budget, fund balance remains strong
Summary
Finance staff reported FY25 revenues of $395 million (about $2 million over budget) and a general-fund expenditure gap of $37 million driven largely by planned capital spending; unassigned fund balance rose to $79.3 million (18.3%). The board asked for follow-up on unexplained timing items and the status of property-tax appeals.
Eric Bridal, the county finance presenter, told the board that New Hanover County closed fiscal year 2025 with total general‑fund revenues of $395 million, about $2 million above budget, while total expenditures were $432 million — a $37 million negative variance driven primarily by $28 million in planned capital projects (including Project…
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