During a recent government meeting, officials reviewed the tentative budget summary for the fiscal year 2024-2025, highlighting anticipated revenues and expenditures. The budget reflects a revenue projection of $10 million and has been adjusted to account for a reduction in expected increases to Avmed renewal rates.

The total expenditures, excluding Florida Department of Transportation (FDOT) grants, are estimated at $75,532,884. This figure includes regular expenditures of $31,388,153, grants totaling $2,786,203, transfers out amounting to $24,771,595, and a contingency reserve of $16,586,933. Notably, the board has set aside $13,885,812 for contingency, with discussions indicating a desire among several commissioners to establish an emergency fund.

The Government Finance Officers Association recommends maintaining an unrestricted fund balance equivalent to at least two months of regular operating revenues and expenditures. Based on the estimated regular operating expenditures of $42,385,985, this would require a reserve of approximately $7,064,331. After accounting for the proposed emergency fund, the new general fund reserve for contingency would stand at $6,821,481.

While no board action was required during this meeting, officials indicated that the figures would be used to present the tentative budget at the upcoming budget hearing on September 3. Concerns were raised about the county's financial health, with one commissioner expressing alarm over the dwindling reserves and the potential for cuts if funding is not secured. The urgency for action was emphasized, as the county faces scrutiny from auditors and the need to address financial stability moving forward.