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Finance committee reviews budget adjustments, certified tax rate and readies resolutions for special meeting
Summary
The Bedford County Finance Committee reviewed updated 2026–27 budget assumptions — including a revised 6% delinquency rate and a state-certified tax rate of 1.5083 — and forwarded resolutions to the county commission ahead of a special-called meeting to set the tax rate on June 30.
The Bedford County Finance Committee met and approved procedural items before turning to budget updates for fiscal year 2026–27. The finance director told the committee staff had revised assumptions, increasing the delinquency estimate from 4% to 6% based on year-end results and replacing Tab 15 in the budget book to reflect that change.
"We have collected a million eight thousand more than we had last year on property tax," the finance director said, adding that collections were about $215,000 higher than the same point last year and that sales-tax collections were $873,000 ahead of last year. The director also noted more than $140,000 in assessment appeals that affected final revenue calculations.
The committee reviewed a state-certified tax-rate calculation and was given an updated certified rate of 1.5083. The finance director said the figure reflects the revenue-neutral calculation adjusted for new property and appeals; the estimated total revenue tied to that rate was reported as $32,353,035.
Committee members were told items showing more than 83.33% expended would be handled in a cleanup amendment to be presented next week. The chair scheduled a commissioners’ study session at 5:00 p.m. and reminded members of a special-called Financial Management Committee meeting at 6:30 p.m. and a special-called commission meeting at 7:00 p.m. on June 30 to finalize the tax rate and approve the budgets.
Robert, a staff member, summarized Resolutions 27-1 through 27-7 and distributed a handout with guidance from the state comptroller on revenue projections and budget best practices; those resolutions will go before the full commission at the special-called meeting. The committee approved routine reports and several consent items — including a Board of Education surplus and referral of a multi-year Canon copier contract to the full commission — by voice vote.
Next steps: the county will hold the scheduled study session and the special-called meetings on June 30 where commissioners are expected to act on the cleanup amendment, the budget and the certified tax rate.
