Fairfax County will take in about $7.5 million more than anticipated in the current fiscal year because of better-than-expected collection of tax revenues from real estate and other sources, county officials said Tuesday.
But a shortfall at the Community Services Board, financial troubles at the Lorton Arts Foundation and health care insurance for retirees will also eat up most of it, according to County Executive Anthony H. Griffin’s third quarter review of finances.
That leaves the Board of Supervisors about $2.5 million more to work with as they prepare a budget for fiscal year 2013, which begins July 1.
Griffin’s staff prepares the review as a snapshot of county finances as the current fiscal year draws to a close.
Property taxes generated an additional about $4.6 million, deed filings brought in about $1.5 million more, while personal property levies and land-use fees combined to bring in about $1.5 million more than expected, county officials said. Cuts to agency spending and debt-refinancing also saved an extra $8.2 million.
However, the county also has to spend about $4.7 million more in fiscal 2012 on retirement benefits, such as health-care subsidies. Other increased expenses included $3.6 million to help close a shortfall at the Community Services Board, $2.2 million more for the Lorton Arts Foundation, and $2 million for overtime and other personnel costs for police associated with Hurricane Irene, the 2011 election and other factors.
The net of about $2.5 million is in addition to a balance of about $29.5 million, which is also from higher-than-anticipated revenues that Griffin has already been factored into his proposed budget for fiscal 2013.