Prince Edward County’s FY17 Revenue Exceeded Budget

   Written by on July 27, 2017 at 10:46 am

By Crystal Vandegrift, Staff Writer

FARMVILLE – Earlier this month, County Administrator Wade Bartlett updated the Prince Edward Board of Supervisors members with the status of the FY17 budget that ended June 30.

“There are still revenues that will be received and bills that have to be paid to form the FY17 budget but I have enough knowledge to make a fairly good estimate of what can be expected when the fiscal year is finally closed,” said Bartlett.

According to Bartlett, overall the county’s general fund had a successful year with revenue collection exceeding the budget and expenditures less than the budget. “I estimate revenues will exceed the budget by at least $400,000 while expenses will be $200,000 less for a total positive of $600,000.” he added

Increased collections from personal property, recordation tax, fines and landfill bills are the primary reasons for revenue increases.

According to the County Administrator’s office, personal property revenues are approximately $140,000 more than what was expected and reflected the increased number of vehicles in Prince Edward County.

The recordation tax is more than $72,000 over the budgeted figure and reflects the increased number of property sales. The Sheriff’s at will program resulted in close to $80,000 more due to fines. Landfill bills resulted in $135,000 more for in revenue.

The county was able to save funds associated with the regional jail, juvenile detention, the planning and economic development offices.

Bartlett is expected to present a complete report to the Board of Supervisors at their September meeting.

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