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Preliminary FY2026 review: county reports stronger-than-expected revenues and Colonial Downs receipts
Summary
Financial Services Director Richard Lawrence gave a preliminary FY2026 review showing stronger revenues in several lines, noted departmental expenditure performance, identified overtime and unemployment overages to be covered by contingency transfers, and reported Colonial Downs receipts of about $19.43 million and cash on hand near $35.88 million.
Financial Services Director Richard Lawrence presented a preliminary review of FY2026 results and major near-term budget items.
Lawrence told supervisors the general fund performed well on expenditures with most departments under budget; he flagged a few overages (financial advisors contract, court-appointed attorney fees and Fire & Rescue overtime) that staff plan to cover with transfers and contingency. On revenues he reported property tax and personal property lines exceeded conservative expectations. "We took in about 19,430,000 in fiscal year 26," Lawrence said when summarizing Colonial Downs receipts; he added current cash on hand and net-allocated uses amount to just under $28 million available after commitments.
Lawrence explained the county budgets EMS-recovery revenue separately and described a process to absorb some one-time overages; he outlined an expected transfer to capital of approximately $2–4 million once encumbrances and carry-forwards are reconciled. He also noted the $1.5 million previously budgeted from Colonial Downs revenue could be reallocated to capital or general fund choices and said staff will bring formal options in August for board action.
