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Finance director presents preliminary revenue and expenditure reports; sales tax and interest revenues show gains
Summary
Finance Director Andrea Smith presented FY‑to‑date revenue/expenditure tables and committee minutes, noting local option sales tax and trustee interest increases year‑over‑year and that quarterly close timing delayed some reports; the commission received and filed the reports.
Andrea Smith, Franklin County finance director, presented the packet of revenue and expenditure reports for the fiscal year ending June 30, 2019 and the committees' minutes on Oct. 15. The commission voted to receive and file the Finance Director’s reports.
The packet included a Local Option Sales Tax analysis showing county and municipal collections for August 2018: county collections reported at $485,553 for the month and an August‑to‑August increase from $450,466 in Aug. 2017. Year‑to‑date local option sales tax in the packet was shown as $1,035,008 compared with $930,598 the prior year. Trustee interest summary for August listed gross interest of $17,499.56, with $16,215.69 allocated to the Solid Waste fund and $1,283.87 to the School General Fund OPEB reserve, per the attachment included with the minutes.
Smith noted a timing issue: the county’s close of financial books occurred after several related boards (Board of Education, Highway Commission, Legislative and Finance committees) had submitted materials for the Oct. 15 packet, so some quarterly figures could not be fully reconciled before the meeting. The commission accepted the reports and forwarded relevant finance committee recommendations for action where necessary.
The detailed revenue and expenditure tables were filed with the minutes and will be available in the county finance office for review.
