Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
County administrator: nearly $1 million in 'target funding' and positive sales tax trends
Summary
County Administrator Lisa Holmes and Finance Director Lori Skariat reported roughly $450,000 from reimbursement projections and $500,000 from a debt‑service correction — funds available as 'target funding' for the 2025 budget — and presented August sales tax estimates showing year‑over‑year growth.
Tompkins County Administrator Lisa Holmes told the legislature that two recent administrative findings have produced nearly $1 million in target funding for the 2025 budget: about $450,000 from a favorable variance in state reimbursement projections tied to recent union contract adjustments and about $500,000 from a corrected double‑counting in the debt‑service schedule for green facilities phase‑one projects. "We did come under budget for what we projected for 2025 by about $450,000," Holmes said, and staff characterized the $500,000 as an administrative discrepancy now available for legislative consideration.
Finance Director Lori Skariat presented New York State estimates for August sales tax, noting the county's share is estimated up roughly 3.68% and the county share estimate for August at about $3.7 million. She cautioned the monthly numbers are estimates and will be reconciled with quarterly actuals. Legislators responded that the amounts shrink the projected budget gap and that options include adding the funds to fund balance or targeting them to high‑priority services during the upcoming budget amendment process.
