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Shelby County reports stronger revenues, confirms credit ratings
Summary
Deputy Director Danielle Schonbaum reported that March 2025 revenues were about $37.5 million higher than the prior year, led by property-tax gains, and that the county's credit ratings were affirmed (AA1, AA+). Personnel costs rose due to a 6% salary increase and pension changes.
Deputy Director Danielle Schonbaum presented Shelby County's monthly finance report for the period ending March 31, 2025, reporting higher total revenue compared with the prior year and an affirmed credit rating. "Total revenue as of March 31 was up $37,500,000 versus the prior year, driven by higher property taxes and offset by lower fines and fees and interest income," Schonbaum told the committee.
Schonbaum highlighted a roughly $40 million increase in property-tax revenue tied to the penny allocation and said personnel expenditures rose by $19.2 million (8.3%) following a 6% countywide salary increase and changes in pension mortality assumptions. She also noted that investment interest remained elevated and the county's credit ratings were affirmed at AA1/AA+. Commissioners asked follow-up questions about revenue timing and clerks' reporting; staff agreed to provide additional updates at future meetings.
