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Beaufort County reports healthy fund balance, $2.5M projected investment earnings, and a small appropriated balance for paramedicine grant
Summary
Staff reported an estimated unassigned fund balance of 35.7% (about $26.7M), projected investment earnings of about $2.5 million, and a $166,298 appropriated fund-balance carryover to continue a Vidant-funded community paramedicine position and equipment.
Anita told the Board of Commissioners she expects the county’s unassigned general-fund balance to be at or near the county policy target of 35% at fiscal year-end; Anita said staff estimate an unassigned fund balance of about 35.7%, which she reported as approximately $26,700,000.
She said that healthy balance allows the county to earn interest on idle cash and staff projected roughly $2,500,000 in investment earnings next year based on current cash holdings and market rates.
Anita explained staff recommend appropriating a small portion of fund balance — $166,298 — into the recommended budget to cover remaining expenses on a Vidant-provided community-paramedicine grant. The county received a Vidant grant of about $196,000 in the current year and Anita said approximately $166,000 will remain at June 30 to pay the paramedic salary, equipment purchases and professional development tied to that grant-funded position.
Ending: Staff included the fund-balance projection and the appropriated residual grant funds in the recommended budget; commissioners were invited to review the fund-balance schedules and appendix detail in the budget book prior to final decisions.
