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Finance director: revenues up but year-end surplus likely smaller; internal audit lays out FY25 plan, executive session set for Dynetics IT work
Summary
Finance director Chris Caldwell said general fund revenues are up year-over-year but expenses grew faster, reducing the year-end surplus; internal audit presented a FY25 plan (fleet audits, schools payroll, space utilization) and the committee voted to enter an executive session to review confidential Dynetics IT findings.
At the June 20 meeting of the Knox County Audit Committee, Finance Director Chris Caldwell told the committee that general fund revenues through May were roughly $13.4 million higher than the same period last year, but rising expenses have narrowed the net surplus the county experienced a year earlier. "You will see that revenues are up about 13,400,000.0 over this time a year ago, but expenses are up about 21.8," Caldwell said, urging the committee to consider the net of those numbers as the fiscal year closes and noting that the county likely will not have as large an amount available for year-end designations as it did last year.
Chris Simons,…
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