MOUNT VERNON—A financial update shows the county in a good financial position through April 2024, partly due to steady sales tax revenue.
“The county finances remain strong, and we’re on pace with our budget and projects at this point,” County Administrator Jason Booth said.
“We’re getting ready to look at revenue for 2025 and work on some preliminary budgets and projects for 2025.”
Sales tax revenue dipped in January and March but was high in February and April. Overall, the revenue stream meets projections. If current trends continue, the county will hit its projected $12.5 million in sales tax revenue.
Sales tax accounts for 51 percent of the budget. The county receives the money three months after it accrued. For example, January’s revenue represents October 2023.
The general fund cash flow is down compared to the last two years.
“Part of that is because we’ve put money in the capital improvement fund,” Booth explained.
“Similarly, the cash balance is down because money is encumbered for the projects we have purchase orders for. We just have not paid for them yet from the fund.”
Conveyance fees from property transfers and recorder’s fees are up slightly. Casino revenue is up slightly; lodging tax is essentially flat.
The American Rescue Plan Act (ARPA) fund has $422,457 left, all of which is encumbered for projects. Of the $422,457, $246,000 will cover the remaining expenses for upgrading the Pleasant View Acres sewer plant.
An additional $44,212 is allocated for other water/sewer infrastructure, $91,618 for county engineer projects, and $40,412 for Memorial Building HVAC work.
Booth said the Service Center window replacement project is “in a holding pattern” while Modern Builders searches for a replacement subcontractor.
The county will bid the Chestnut Street improvement project in the next few weeks.
