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Finance report: Bedford County collected 104% of budgeted revenue for June; general fund underspent
Summary
The finance representative told the committee June collections equaled 104% of budgeted revenue while general fund spending was about 88.91% of budget; property tax collections rose by $972,000 year-over-year and sales tax collections were higher than the prior year.
The finance representative presented the June monthly report and highlighted that Bedford County collected 104% of the revenue budgeted for the period, while general fund spending was roughly 88.91% of budgeted amounts, which will add to the county's fund balance. The presenter cautioned that these were unaudited numbers and standard closing-year adjustments (receivables and other items) remain.
"You'll see the number, of onboards, offboards..." the presenter said while reviewing personnel and subsequent pages; on tax collections the finance representative said, "we collected 972,000 more in property tax than the year before" and noted sales tax and mineral severance tax variances. The committee approved forwarding the quarterly summary to the commission for formal acceptance.
