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Cabarrus County projects $13.7M FY27 shortfall; commissioners weigh use of reserves and new contingency fund
Summary
Budget director Raj Khatri told the board the county currently projects a $13.7 million deficit for FY27 under planning assumptions and proposed a mix of one‑time transfers, tighter salary assumptions and a new contingency fund. Commissioners pressed staff on the use of reserved economic‑incentive balances and the tradeoffs of centralized contingency authority vs. departmental accountability.
Budget Director Raj Khatri presented an early FY27 update to the Cabarrus County Board of Commissioners on Jan. 5, saying the county faces a projected budget gap of about $13.7 million under the five‑year plan assumptions.
Khatri said the general fund revenue mix in the FY26 adopted numbers is roughly 62% property tax, 17% sales and other taxes, 7% intergovernmental grants and 6% other financing sources. He noted one‑time adjustments included a $2.4 million transfer last year from a self‑insurance fund and the accounting practice of reserving 85% of upfront economic‑incentive tax receipts until audit and eligibility are confirmed.
“Any time we…
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