Marty Gordon
NRVsports@mainstreetnewspapers.com
The latest financial numbers for Montgomery County show the locality finished Fiscal Year 2025 with a surplus of $4.3 million of revenue.
In a financial report from the treasurer’s office, the county is reporting an increase in revenue thanks to several areas, including a tax increase approved by the Board of Supervisors earlier this year.
Actual year-end collections of undesignated excess revenue are after accounting for several adjustments. In April, the county projected a surplus of $4.1 million but when the numbers came in at the end of the fiscal year, the revenue increased to the higher amount.
The increase is directly related to $0.6 million in added revenue collected from the second payment of real estate due to the one cent tax rate increase that was not budgeted in FY 25.
Approximately $2.2 million was collected via personal property monies.
But the extra $4.3 million in revenues is not all ongoing as $2.6 million was added to the FY 26 budget.
The county is currently tracking very closely to FY 25 estimates but will not know until January 2026 with several factors still affecting numbers.
The financial report says the current state of the economy through the end of the year depends on more uncertainty with the US economy. Growth is slowing, and the labor market is weakening. Inflation is above the Fed’s 2% target (2.9% in August), while interest rates were reduced in September – time will tell what impact this will have on the economy.