There is still one more month left in Fiscal Year 2025 and it will not be too long before localities will audit their accounts to see how well revenues and expenditures performed against the adopted budget.
Projections shown to the Albemarle Board of Supervisors earlier this month indicate that the county expects to bring in $5.7 million more in general fund revenue. While elected officials adopted an operating budget based on revenues of $432,530,850 in May 2024, the budget was later revised to $443,909,582.
The projections show collections are on track to be around $449,610,328, or about 1.3 percent above budget. Several sources of revenue exceeded expectations such as the Business, Professional, and Occupational Licenses (BPOL) tax which is forecast to bring in $21.5 million, 7.6 percent above the revised budget…