Inyo County adopts FY24-25 midyear budget adjustments, places new revenues in contingency

The Inyo County Board of Supervisors on Feb. 25 adopted the county's FY24-25 midyear financial report, approving modest revenue and expenditure adjustments and directing staff to prioritize contingency planning.

County budget staff presented the midyear review, reporting revised revenue of about $155,491,297 and expenditures of about $185,116,942. Staff said the auditor identified roughly $691,698 in additional one-time revenues, including about $500,000 in prior-year vehicle license fees and approximately $105,000 in delinquent sales tax receipts. The budget team recommended placing those newly identified funds in contingency until there is greater clarity about federal funding.

The presentation also noted use of $9 million in fund balance consistent with the adopted fiscal-year budget and no change to net county cost at this time. Staff emphasized continued monitoring of revenue attainment and departmental expense management, with a third-quarter check-in planned.

Board members asked questions about specific line items, including courthouse HVAC project completion, the Independence senior center HVAC funding moving between accounts, motor-pool vehicle replacement timing and the sheriff's vehicle purchases. Staff said vehicle replacements for the sheriff's fleet account for recent purchases and that leased fleet replacements occur based on mileage and age.

After discussion, a motion to accept the midyear financial report and approve attendant budget actions carried by voice vote. The board directed staff to emphasize revenue attainment and expense saving to maximize year-end fund balance and to return with any needed third-quarter changes.