Finance director reports June budget update: revenues lag, expenditures on track; first property tax distribution expected

Grundy County’s finance director provided the committee a monthly general fund budget update through June 2025, reporting revenues below year-to-date budget percentages and expenditures roughly in line with expectations.

Matt, finance director, said the county was about 58% of the way through the fiscal year and that general fund revenue through June totaled about $8.275 million, roughly 39% of budget. He said state tax revenues were within expectations, interest income year-to-date was at about 47.48% of its budgeted amount, and departmental revenues were in line. Matt told the committee the first property tax distribution was expected to post and would increase received revenue in coming months.

General fund expenditures through June were about $11.237 million, or roughly 55% of budget; June expenditures were the lowest monthly total in the fiscal year to date, Matt said. He also reported a filtered general-fund report showing account changes greater than or equal to $5,000; after initial departmental entries, the general fund was about $500,000–$600,000 (approximately 2.5 percent) away from the county’s five-year forecast target.

Matt noted the county faces standard cost pressures such as health insurance increases (presented earlier as a 6.2% increase) and mentioned a small change order for courthouse boiler replacement: removal of two old boiler units required a small concrete pad for the new boiler footing, estimated at about $2,500. The contractor found no asbestos and no abatement was necessary.

The finance director said he would continue to meet with department heads to address higher-line items and develop a plan to meet the budget forecast; committee members asked few questions. The monthly reports were included in the meeting packet and members were asked to review them and follow up with any questions.