During a recent Shelby County government meeting, officials discussed the financial status for the fiscal year 2024, highlighting both revenue increases and ongoing budgetary challenges. The meeting began with a presentation from Finance Administrator Danielle Schonbaum, who reported a $5.1 million increase in overall revenue compared to the previous year, primarily driven by a $3.5 million rise in property tax revenue. However, she cautioned that these early figures may not accurately predict the year's financial trajectory.

Personnel expenditures rose by $4.2 million, attributed to increasing personnel costs, while operational and maintenance expenses saw a decrease of $4.8 million, largely due to timing issues in expense reporting. The discussion also touched on the county's interest revenue, which has seen fluctuations due to changing market conditions.

Audrey Tipton, Director of Administration and Finance, provided a preliminary unaudited financial update for the fourth quarter of FY 2024. She noted that property tax collections were slightly below projections, with total revenue reported at $461.9 million, an increase of $3.9 million from the previous year. However, the general fund balance was projected to be lower than the previous year, raising concerns about compliance with the county's fund balance policy.

Commissioner Ford raised significant concerns regarding a recent letter from the state comptroller, which highlighted deficiencies in the county's budget submissions over the past three years. He emphasized the need for improved internal controls and timely budget submissions to avoid conditional approvals in the future. The comptroller's office indicated that future budgets must meet minimum submission requirements to avoid disallowance of debt issuance, which could impact essential infrastructure projects.

In response, Director Tipton and Budget Director Michael Thompson assured commissioners that steps are being taken to enhance financial processes, including the implementation of a new Enterprise Resource Planning (ERP) system aimed at improving budget submissions and overall financial management.

The meeting concluded with a call for collaboration among commissioners and finance officials to ensure timely and compliant budget submissions moving forward, particularly as the county prepares for the FY 2026 budget cycle.