The Chesterfield County Board of Supervisors unanimously approved a $2.4 billion budget for fiscal 2026 on Wednesday.
The budget has been described by county officials as an “austere” one: There are 175 full-time positions totaling $22.1 million that are going unfunded, and roughly $300 million worth of capital improvement projects are on hold.
The county also decided not to float any bonds during the next fiscal year, officials said.
Much of the talk surrounding uncertainty stemmed from federal funding cuts. But as county officials have repeatedly pointed out, changes in federal funding wouldn’t necessarily have an enormous effect on the county’s finances.
The budget also includes money for a $426 million plant that could be located in the Appomattox Tidal Basin, which is on track to become the county’s fourth water source by 2033.
“It’s a work in progress,” said County Administrator Joe Casey following the vote. “That is, a fourth water source for Chesterfield County.”
Around 40% of the budget — about $1 billion — is for the public school system. The approved budget raises schools’ funding by about $43 million over last year, which should cover 3% step increases for all employees and about $13 million to support special education.
Since at least September 2023, Chesterfield County Public Schools officials have discussed the state underfunding the district.
County residents are also getting a one-cent reduction on real estate taxes; the tax rate for the next fiscal year is 89 cents per $100 of assessed value. The rate was 95 cents per $100 in 2021. (Virginia’s fiscal year runs from July 1–June 30.)
Matt Harris, the deputy county administrator for finance and administration, told the board that the deadline for Gov. Glenn Youngkin to sign or veto bills as well as issue new state budget amendments is May 2.
He said the effects of what the governor will choose to do are currently unknown; Harris added that the board may revisit the budget for potential adjustments in late May or early June. (Virginia’s fiscal year runs July 1–June 30.)
“We would make adjustments with facts,” Casey said. “If things originate that warrant our attention, we have May and June to address that.”
