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Treasurer reports FY25 surplus increase; court authorizes FEMA reimbursement resolution
Summary
Treasurer Amy reported FY25 revenues of roughly $38 million and a $374,000 increase to county reserves; the court approved a resolution to accept FEMA funds for February flood recovery under KYEM event 4860DR‑KY and designated the judge to sign grant documents.
Treasurer Amy presented the fiscal year 2025 financial statement and fourth-quarter report to the court, highlighting revenue and reserve results.
Key numbers presented: Amy said total revenue for FY25 was about $38,000,000, with taxes contributing roughly $23,600,000 (about 62% of revenue), intergovernmental support and grants at about $5.8 million, miscellaneous receipts near $5.2 million and interest income of roughly $1.2 million. She reported capital projects and personnel changes and said departments generally adhered to budget; the increase to reserves for FY25 was reported at about $374,000, bringing the court's reserve total to the mid-seven figures.
Disaster reimbursement: Belinda and other staff briefed the court on a resolution to receive FEMA funds for cleanup related to the February floods under KYEM Event No. 4860DR‑KY. Staff described an estimated distribution formula (about 75% federal, 12% state, 13% local) and said the state allocation figure discussed is the pool approved for the event; counties will submit estimates and receive reimbursement based on approved allocations. Magistrates asked whether a referenced $200,000,000 figure would be distributed first-come-first-served or prorated; staff said allocations will be distributed according to approved estimates and the state process.
Court action: The fiscal court voted to accept the treasurer's reports, file the fourth-quarter report with the Department for Local Government, and adopt a resolution authorizing receipt of FEMA reimbursement funds and authorizing the county judge to execute related documents.
Why it matters: The updated financials show the county ending the year with a modest reserve increase amid ongoing capital projects. The FEMA resolution activates the county's ability to seek reimbursement for eligible costs from the federal disaster allocation.
