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Treasurer reports balances and flags water/sewer fund deficit for Smyth County
Summary
County finance staff reported a March 31, 2026 bank and CD balance of $17,909,145.15, year‑to‑date expenditures of about $82.35 million and revenues of about $82.50 million. Officials warned the Smyth County water and sewer fund remains in a deficit and discussed options including rate increases or bonds.
The county’s finance representative reviewed the March 31, 2026 figures and told the board the packet shows a bank and CD balance of $17,909,145.15 and year‑to‑date expenditures of roughly $82,348,715 with revenues around $82,502,405.
The presenter noted the way past‑due taxes are reported (PPTRA timing) can distort near‑term comparisons and highlighted a continuing negative balance in the Smyth County Water Fund and a sewer fund shortfall. "That negative balance is actually a loss," the finance presenter said, adding the county has historically used general‑fund transfers to bring utility funds to zero at year‑end. Supervisors discussed options including raising water/sewer rates, bonds for capital projects, and rebuilding reserve balances over multiple years.
Board members asked for comparative year‑over‑year reports and a clearer presentation; the finance presenter agreed to provide additional comparative views and to work with the treasurer’s office to clarify prior write‑offs and bookkeeping presentation. No specific tax or rate changes were adopted at the meeting; the board later scheduled public hearings to discuss potential rate and tax changes as part of budget deliberations.
