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Town reports Jan. 31 finances; NCDOT reimbursement fully funds Sportsplex
Summary
Finance Director Butch Watson presented year-to-date financials through Jan. 31, 2025; Town Manager Paul Sabiston said a $400,000 NCDOT reimbursement completed funding for the Sportsplex project and staff plan spring landscaping at the park entrance.
Finance Director Butch Watson summarized Aberdeen’s fiscal activity through Jan. 31, 2025 at the Feb. 24 Board meeting, reporting combined General and Water & Sewer fund revenues of $14,049,947.75 (68.94% of combined budget) and combined expenditures of $10,737,664.40 (52.69% of combined budget) year to date.
Watson highlighted several line items: 2024 Moore County real and personal property tax collections were at 95.25% of budget ($6,184,384.81 vs. $6,492,538); Motor Vehicle tax revenue lagged at 58.11% ($231,819.02 vs. $398,930); building-permit revenue was above budget at 103.16% ($335,283.20 vs. $325,000); and Powell Bill receipts were at 126.89% of budget ($362,892.94 vs. $286,000). Project and capital funds were also summarized, including the Old Aberdeen Elementary project, Downtown Improvements, the New Library, Sportsplex Park Development (Fund 65) and other grants.
Town Manager Paul Sabiston told the Board the Town received a $400,000 reimbursement from NCDOT for an intersection project the town had funded two years earlier. "The $400,000 reimbursement has made the Sportsplex Project fully funded and it even has a slight surplus now," Sabiston said. Sabiston added that staff hopes to do additional landscaping along the entrance road this spring and noted advertising on the Sportsplex fence could be an option for local businesses.
The Board received the financial report as presented; no formal budget amendments were adopted at the meeting.
What to watch: staff follow-up on Sportsplex landscaping, any future budget amendments tied to project surpluses, and routine monitoring of sales-tax trends given the lower-than-budget collections reported through five months.
