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Treasurer warns reserves falling, urges budget planning as committee confronts multi‑million shortfall
Summary
The county treasurer told the Finance and Audit Committee investment reserves have declined and flagged a near‑miss on cash for payroll; the committee discussed using one‑time funds, vacancy management and software costs while planning cuts and revenue options.
The county treasurer warned the Finance and Audit Committee that the county’s investment reserves have fallen and said staff briefly needed to sell investments in May to cover payroll. The treasurer urged the board to factor reserve levels and uneven revenue timing into budget planning for the coming fiscal years.
Treasurer (Donna, first name used in the meeting) and finance staff told the committee the county’s general-fund investment balance has declined from earlier highs…
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