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Finance Committee approves 2024 carryovers, recommends transfers to debt service and capital reserves
Summary
The Kewaunee County Finance Committee reviewed unaudited 2024 results, approved budget carryovers for incomplete projects and recommended moving portions of the 2024 surplus to debt service, an auto‑damage reserve and future capital projects.
Kewaunee County’s Finance Committee on (meeting date) approved carryovers for projects budgeted but not completed in 2024 and recommended transfers that would put portions of the unaudited 2024 surplus toward debt service, an auto‑damage fund and future capital projects.
Paul (county finance staff) presented the unaudited 2024 results and a list of budget items budgeted in 2024 but incompleted; committee members approved moving those amounts forward so departments can finish projects within the 2025 budget year. Paul described the carryovers as routine and itemized the examples (IT licenses, jail doors, other scheduled projects) and noted one vendor invoice under $5,000 that arrived after the schedules were prepared.
On the larger surplus discussion Paul identified the main contributors to the approximately $2.2 million unaudited surplus: higher interest earnings, staffing vacancies (notably in the sheriff’s department), delayed capital projects and higher‑than‑budgeted sales tax and tax‑increment financing receipts. Paul recommended transferring $255,056 (10% of excess general‑fund surplus per policy) to the debt‑service fund, replenishing the auto‑damage fund (to cover vehicle collision repairs) and allocating the remainder to the county’s future capital projects reserve. The committee discussed that many surplus contributors were one‑time or nonrecurring and should not be treated as recurring revenue.
Committee members discussed the timing of the 2026 renewal and budget process and confirmed the late‑summer timeline for budget worksheets; staff said they will incorporate carryovers and the transfers into the 2025 budget documents and seek full board approval where required. Paul reminded the committee that final amounts remain subject to the year’s audit, typically completed in August.
Ending: The committee approved the carryover list and authorized the recommended transfers to reserve accounts with the understanding that these are unaudited figures and that some items reflect one‑time timing differences rather than ongoing savings.
