Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Hanover finance director reports $20.6 million revenue gain, projects $41.1 million operating balance
Summary
Finance Division Director Lauren Noll presented the county's preliminary, unaudited year‑end results showing year‑to-date general fund revenues of $366,000,000 (about $20.6M above budget) and a projected general‑fund operating balance around $41.1M; results are subject to fall audit.
Lauren Noll, Hanover County's finance division director, delivered the preliminary year‑end financial report to the Board, emphasizing that the results are unaudited and subject to change when the annual audit is completed.
Noll reported year‑to‑date general‑fund revenues of $366,000,000 compared with a revenue budget of $345,400,000, representing a projected $20.6 million surplus above the appropriated budget. She identified favorable variances in general property tax collections (approximately $15.4 million) and improved investment income, and she summarized estimated personnel and operating savings. Public utilities and the school division preliminary results were also presented, with projected assignments and returns noted for the five‑year capital plan.
Noll told the Board that the county will present audited financial statements and the annual comprehensive financial report after the fall audit. Supervisors thanked staff for a "very positive" update and noted that some of the one‑time revenues are planned to be used for FY25 budgets and capital projects.
