TOWN OF FAIRFAX
FY25 MIDYEAR BUDGET REPORT
PRESENTED MARCH 5, 2025 BY MICHAEL VIVRETTE, CPA DIRECTOR OF FINANCE FAIRFAX FY25 (2024-2025)
GENERAL FUND BUDGET
FY25 ANTICIPATED REVENUES
FY25 APPROPRIATIONS (EXPENSES)
MIDYEAR BUDGET - SUMMARY
• GF Revenues are projected to exceed budget by $512,300 (3.9 %) • GF Expenses are projected to be under budget by $240,000 (-1.6 %) • The net savings would be $752,400
• The Adopted FY25 budget originally projected a General Fund drawdown from reserves from 41.4% to 25.8% (above the 25% reserve set by council policy) to provide additional funding for CIP projects
• The Midyear projected savings can reduce the planned reserve drawdown by $752,400 to $785,300 increasing reserves from 26.3% up to 31.0%
MIDYEAR BUDGET - REVENUES
Revenues will be higher primarily
due to additional tax revenues.
• Property taxes + $ 159,100
• Sales Taxes + $ 98,100
• Prop tax in Lieu + $ 222,800
• Utility User & Hotel + $ 119,800
• Wildfire Tax (pass thru)
+ $ 113,400
Tax Revenues comprise 62.8 % of the
Town’s budgeted revenues.
MIDYEAR BUDGET - REVENUES
Revenues will be lower than budget in
some categories:
• Fines – (Over-estimated; difficult to
project accurately) - $ 26,200
• Interest& Rents – (LAIF interest short
of projections) - $ 7,000
• Revenues from Other Agencies
(Planning Grant etc) - $ 92,700
• Grants from Other Agencies ( Various
environmental ) - $ 96,600
Grant funds may have associated
program costs which will be reduced.0
MIDYEAR BUDGET – REVENUES
• General Funds expenses are
projected to be under budget
by $512,300 (-3.5%)
• Most departments are
projected to be under budget
as of June 30th
As an example:
• Climate and Environment Revenues are
expected to be $96,600 below budget
because some grant revenues for
programs did not materialize,
• The budgeted expenses for the Climate &
Environment programs ($123,500) will
have a corresponding reduction.
• The total expenses of the Climate and
environmental department includes:
• $59,500 for our half of a shared
specialist
• $186,500 of projected program costs
which are covered by grants … when
they happen.
MIDYEAR BUDGET - EXPENDITURES
• General Fund Expenditures are
projected to be lower than
budget by $240,000 (1.6%) this
year.
• Most departments will be
under budget as of June 30th
MIDYEAR BUDGET - EXPENDITURES
Departments likely to exceed
budget include:
• Disaster Prep (418) by $8,700
• Street Maintenance (511) –
by $124,500 due to
increased patching and
higher activity
• Town Attorney (131) by
$269,000
MIDYEAR BUDGET – DEPT EXPENSE
• General Funds expenses are
projected to be under budget
by $512,300 (-3.5%)
• Most departments are
projected to be under budget
as of June 30th
TOWN ATTORNEY (131)
• Attorney - General Services covers
representing the Town in lawsuits,
litigation and hearings; reviewing
ordinances, contracts and legal
documents and rendering legal
opinions for the Town.
• General Services are provided by:
• Janet Coleson (Public Agency
Law), and
• Best, Best, & Kreiger for some
services
• The FY25 budget for Attorney this
year is $340,000 for General Services
• The projected expense for General
Services is $316,000
MIDYEAR BUDGET – DEPT EXPENSE
• General Funds expenses are
projected to be under budget
by $512,300 (-3.5%)
• Most departments are
projected to be under budget
as of June 30th
TOWN ATTORNEY (131)
• Attorney – Special Services includes
expenses for litigation which are
above and beyond General Services.
• The FY25 budget for separates
Special Services from General
Services but no budget was provided
• This year, special attorney services
have been provided by two firms
representing the town on several
cases
• seeking damages to recover costs
from emergency repairs, and
• defense cost in several suits.
• The FY25 projected expense for
Special Services is $323,000
MIDYEAR BUDGET – CIP
• General Funds expenses are
projected to be under budget
by $512,300 (-3.5%)
• Most departments are
projected to be under budget
as of June 30th
CIP PROJECTS
• The Town spent $775,800 on CIP
projects through Jan 2025. Projection is
$1,674,000 by June 30
• Proj 51-845 103 Rocca Stabilization
• Budget $250,000/Spent $290,000
• $40,700 over budget
• Proj 51-847 Tam/Berry retaining wall
• Budgeted $582,000/spent $339,000
• $243,000 under budget
• Town is seeking recovery of
expenses from responsible parties
MIDYEAR BUDGET– CONCLUSION
RECOMMENDATIONS:
Expenditures in the General Fund are expected to be
under budget overall.
We recommend the budget adjustments for the listed
departments come from expense savings in other
General Fund departments and projected increased
revenues at the discretion of the Town Manager.
MIDYEAR BUDGET – CONCLUSION