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County finance finds $22 million in excess fund balances; commissioners agree in principle to use nonrecurring funds for capital projects
Summary
County finance reported approximately $22 million in excess fund balances as of Sept. 30, 2024; staff recommended paying off two near-term loans and using nonrecurring excess funds for a slate of capital projects, and commissioners provided consensus support to proceed with project planning and a list of new capital priorities.
County finance staff presented a year-end computation of excess fund balances as of Sept. 30, 2024, stating total excess reserves across funds of about $22 million and recommending the board consider using nonrecurring funds for one-time capital projects and debt payoffs. The finance presentation broke the available, appropriable balances into three general categories: the general fund (about $9,000,000), the transportation trust (about $3,500,000) and municipal services (about $1,400,000), with other restricted funds for economic development, tourist development and library enhancement not available for general…
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