LACIE SILVA
Writer
At its latest meeting, the Bedford County Financial Management Committee reviewed the monthly financial reports for February. The report offered a comprehensive look at revenue and expenditure trends across both county and school system budgets.
The first section of the report provided a summary of current financial standing, detailing revenues and expenditures by fund and department. The committee noted positive gains in several key areas compared to the same time last fiscal year.
Current property tax collections are up by $544,695.56, while prior year property tax collections are ahead by $114,548.55. Collections from the circuit clerk and clerk and master’s office for prior year taxes also increased by $3,711.17. Sales tax collections were up slightly, showing a $983.40 increase from the previous year. However, mineral severance tax collections lagged behind by $2,407.71, though officials noted the next scheduled payment is not expected until April.
The report also included a departmental expenditure analysis, measuring progress against the fiscal year’s expected benchmark of 66.67% through the budget. Several categories stood out:
– Travel and in-service expenditures were at 44.23%, below the yearly average.
– Utilities spending came in at 57.09%, and natural gas at 59.46%.
– Food supplies were notably higher than the average at 76.39%, primarily due to open purchase orders that have not yet been closed.
– Maintenance of vehicles was recorded at 61.76%.
– Diesel and gasoline expenditures stood at 54.85% and 61.83%, respectively.
– Legal services showed a significant overage, reaching 158.85%, with most of that increase attributed to county-related legal expenses.
Overall, the financial outlook for the county remains stable, with positive trends in tax collections and most departments operating within or near budget expectations. The report was presented as part of the committee’s regular oversight responsibilities and provides the foundation for continued fiscal planning throughout the year.
