Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
James City County posts healthy FY24 reserves; $8.8M school surplus and planned uses outlined
Summary
Budget manager reported a preliminary FY24 General Fund surplus of roughly $27.8M with $8.8M school year-end surplus (90% committed back to schools per agreement) and an unassigned fund balance of about $79.7M (≈27% of expenditures). Board discussed vacancy savings and planned commitments.
Cheryl Holland, the county’s budget manager, presented preliminary FY2024 year-end results and a first-quarter FY2025 update for the General Fund, noting figures remain subject to the year-end audit to be presented in December.
Holland said general property taxes remain the county’s largest revenue source (about two-thirds of total revenue), and that FY24 increases were driven by personal property taxes, real estate…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
