Limestone County board hears October financials; money-market interest offsets slow tax receipts
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Summary
At a county meeting, Kim Hubbard presented October figures showing $1,300,000 in local revenue (about 4% for the month), a one-time property/building insurance payment that skewed expenses, a $500,000 transfer to capital projects, and $292,000 in money-market interest that helped revenues.
At a Limestone County board meeting, Kim Hubbard presented the county’s October financial report, saying local revenue for the month was $1,300,000 — "which is only 4%," she said — and noting a large insurance payment and a money-market interest gain that affected the month’s totals.
Hubbard told the board that expenses in October are higher than typical because the county must pay property/building insurance on Oct. 1, a large outlay that she said skews the month’s expense percentage. She said the county transferred $500,000 to the capital projects fund "just like we have budgeted every month." She also reported, "We got $292,000 of money market interest," which she said helped offset the slow tax and sales-tax receipts in October.
The presentation emphasized that lower revenue in October is a recurring pattern tied to fiscal-year timing in other jurisdictions: "There's not a lot that goes out in October because we're everybody's closing out fiscal years in the state," Hubbard said, adding that revenues typically rebound in November. Hubbard summarized fund-balance measures as roughly 2.83 months at one point and said the one-month fund balance is "a little over 12,000,000" (she described these figures as approximate and offered to follow up with emailed details).
Board members asked follow-up questions about the fund-balance math and the scale of the variance. In response to a question about one month’s fund balance for 2025, Hubbard said it was "over 12,000,000" and said three months would be between "36 and 37,000,000," while acknowledging she had reviewed many numbers and would provide more precise figures by email.
The board did not take a formal policy vote based on the report; Hubbard indicated staff will continue monitoring revenue and that figures are expected to climb as receipts come in in November.