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Board votes to eliminate $900,000 beginning‑balance plug, adjusts FY25 budget projections
Summary
Washington County supervisors voted 7‑0 to reduce a $900,000 beginning‑fund‑balance plug to zero by approving a $900,000 budget transfer that increases projected personal property and sales tax revenues and adjusts interest earnings; board members discussed reserve targets and potential regional‑jail cushions.
The Washington County Board of Supervisors voted 7‑0 to eliminate a $900,000 beginning‑fund‑balance plug in the FY25 budget by approving a $900,000 in‑meeting budget transfer that adjusts revenue projections.
Finance staffer Ms. Sturgill presented the FY23–24 end‑of‑year reconciliations and said the county ended the year with "revenues over expenses of around 23,400,000.0" and proposed committed carryover of about $14,500,000. She told the board that, after suggested committed and discretionary carryovers, the county could see an increase in general fund reserves of roughly $3,100,000 if the board approved reductions in utilization of beginning fund balance.
To reduce reliance on the traditional $900,000 beginning‑balance plug, staff proposed a budget transfer that increases budgeted revenue projections: personal property taxes by $200,000, local sales tax by $250,000, and an increase of $4.50 in interest earned on deposit projections (as listed in the board packet). "So tonight, we're requesting to consider the reduction of 900,000 in beginning fund balance and an increase in budgeted personal property taxes of 200,000, an increase in local sales tax budget of 250,000 and an increase of $4.50 in interest earned on deposits budget," Sturgill said.
Supervisors praised staff for conservative fiscal management and discussed whether the county should raise its reserve policy target from 12–15% to a higher range such as 15–18% or 15–20%; staff cautioned against an abrupt jump that could risk bond‑rating effects if revenues fell. A supervisor noted that Moody’s had upgraded the county recently.
One supervisor asked about maintaining a cushion for regional jail costs. Staff and board members said Bristol's participation in the regional jail had helped stabilize costs in recent years but acknowledged the county has not set aside a dedicated escrow line item for potential shortfalls.
A motion to approve the $900,000 budget transfer (allocating the amounts listed in the board book) passed by voice vote; the chair announced the vote as "seven‑zero." The board directed staff to prepare related resolutions and to consider reserve‑policy changes during the January budget kickoff.
