Charlottesville ended fiscal year 2025 with a $8.5 million surplus, an amount lower than recent years.
“You’ll recall we had some very large surpluses in sort of the post Covid years up through FY24,” said Finance Director Chris Cullinan
That year the surplus was $22.4 million and Council agreed with a recommendation from City Manager Sam Sanders to put the money into a contingency fund which has since been used for multiple purchases.
Cullinan said the FY25 surplus is more in line with years before COVID and before the city’s real property tax base increased dramatically. A best practice is not to use this sort of funding for every day items.
“When we talk about surpluses, we talk about them as one time events or one time money,” Cullinan said.
Sanders is once again recommending that Council put the funding into the contingency fund.
“That basically means our savings account,” Sanders said. ”And that gives us the ability to bring forward to you over a schedule of when it makes sense to bring projects forward for funding as well as other expenses.”
There is currently a balance of about $14.77 million in the fund which has a record that dates back to 2006. Take a look here.
Here are some stories about that FY24 surplus and how it has been used if you want to learn more:
- Charlottesville City Council briefed on $22.4 million surplus for FY24, January 31, 2025
- Charlottesville City Council briefed on an uncertain economic future as Sanders says he’s in no hurry to appropriate FY24 surplus, February 21, 2025
- Sanders provides updates on how Charlottesville’s FY24 surplus might be spent ahead of June 2 vote, May 23, 2025
- Sanders reduces contingency spending request after appearing on Sanctuary City list, June 5, 2025
- Council holds second vote on $8.69 million appropriation from CIP contingency, June 25, 2025
- Council holds first reading on use of $7.95 million in surplus funds
Before you go: Paid subscribers cover the cost of conducting research for this article which was originally published in the February 5, 2026 edition of Charlottesville Community Engagement. You can either subscribe through Substack or send in a contribution. More information on that last one coming soon! You can also become a sponsor. How? I still need to complete the media-kit but drop me a line!
The goal of Town Crier Productions is to increase awareness about what is happening at the local, regional, state, and federal government levels. Please share the work with others if you want people to know things!
Discover more from Information Charlottesville
Subscribe to get the latest posts sent to your email.
