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Commission authorizes transfers to cover year-end shortfalls, approves clerk to sign financials for publication
Summary
During the meeting the commission approved short transfers to cover a negative sheriff fund balance, moved a small motor vehicle balance to the general fund, and authorized the chairman to sign year-end financial statements for publication pending final reconciliations.
The Bourbon County Commission reviewed year-end financial reports and approved several small transfers to cover fund shortfalls and to complete statutory year-end reporting.
County Clerk/Finance staff reported a negative cash balance in the County Sheriff Correctional fund that required an interfund transfer to cover outstanding payables. Commissioners authorized a $20,000 transfer from the general fund to cover overages in the sheriff's account and to provide a cushion for late-arriving invoices. The board also approved moving the County Treasurer motor vehicle fund balance of $248.89 to the general fund and transferring $5,000 from the appraiser fund to the general fund to resolve a budget violation tied to payroll accrual timing.
The clerk explained that the county's cash-position report includes agency funds and tax distributions; large top-line figures on the report include monies held for other taxing entities and are not available for county discretionary spending. "Down to that line is essentially the money that the commission and the elected officials control," the clerk said during the presentation.
Commissioners discussed the process for the hospital-related emergency services sales tax dollars and a signed agreement with Freeman hospital staff; the clerk said a signed agreement has been received and distributed, and commissioners noted ongoing oversight provisions in that agreement. Commissioners also directed that the county chairman be authorized to sign the county's end-of-year financial documents once the final bank reconciliations are complete, so the reports can be published within statutory deadlines.
Actions recorded: a motion to move the motor-vehicle fund $248.89 to the general fund passed; a separate motion to move $5,000 from the appraiser fund to the general fund passed; and a motion to transfer $20,000 from the general fund to cover sheriff overages passed. Each motion was seconded and recorded on the floor.
The clerk said these reports and the monthly cash-status summaries will be emailed to commissioners going forward and that staff will bring more detailed line-item information on request.
