Albemarle County on track to exceed revenue forecast for FY2025

There is still one more month left in Fiscal Year 2025 and it will not be too long before localities will audit their accounts to see how well revenues and expenditures performed against the adopted budget.

Projections shown to the Albemarle Board of Supervisors earlier this month indicate that the county expects to bring in $5.7 million more in general fund revenue. While elected officials adopted an operating budget based on revenues of $432,530,850 in May 2024, the budget was later revised to $443,909,582.

The projections show collections are on track to be around $449,610,328, or about 1.3 percent above budget. Several sources of revenue exceeded expectations such as the Business, Professional, and Occupational Licenses (BPOL) tax which is forecast to bring in $21.5 million, 7.6 percent above the revised budget.

“BPOL revenues are primarily driven by stronger than anticipated local economic activity during CY 2024,” reads the report.

Another source outperforming expectations is the Recordation and Sellers tax. The report states that this source is 9.1 percent above budget.

“This is also due to stronger than anticipated year-to-date collections in delinquencies, penalties, and interest,” the report continues.

There is another category with the title “Other Local Revenues” which is projected to end the year with $20 million, or 18.1 percent above budget. That’s three million more than expected.

“This is primarily due to revenue related to the Community Development Department, Emergency Medical Services Cost Recovery revenue and interest earnings on investments, all of which exceed the FY 25 Revised Budget,” reads the report.

This category also includes revenue from speed cameras. Those were not anticipated in the adopted budget.

Not all revenues are on target. Funding from both the United States government and the Commonwealth of Virginia are lower than expected. Revenue from the Commonwealth is projected to be 4 percent under the budgeted amount and federal revenue is down 4.3 percent.

The audit will also take a look at expenditures and the projection provides a glimpse.

“General Fund expenditures are forecast to total $461.8 million at the end of FY 25,” reads the report. “This amount is $10.6 million or 2.3 percent below appropriations through the third quarter.”

For more details, take a look at the full three-page report.

Another new source of revenue not identified in the report comes from fees charged to use the electric vehicle charging units at the two county office buildings.

“We are averaging 1,115 individual sessions per month with about 27.5 kWh per charging session,” reads the latest quarterly report from the Department of Facilities and Environmental Services (FES). “The fees have brought in $28k in revenue, which covers the cost of electricity operating the stations.”

Albemarle Supervisors adopted an ordinance in June 2024 allowing for the fee to be collected.

Before you go: This edition of the program was sent out in the May 29, 2025 edition of Charlottesville Community Engagement and then posted here a day later. To learn more about the work and how to support it, please visit this page.