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Commission hears staff analysis of fund balances and reserves; staff to examine policy targets
Summary
Finance staff briefed commissioners on a detailed FY24 fund‑balance reconciliation and asked the Board to consider whether current reserve targets and the county’s mix of restricted/assigned funds remain appropriate for Bernalillo County’s size and revenue profile.
Bernalillo County Finance staff on March 25 presented a comprehensive review of fund balances as of fiscal year 2024, described the legal and accounting categories that define reserves, and explained the composition of the county’s restricted and assigned balances.
Lede: Finance leaders told the Board that the county’s unaudited FY24 fund balance showed a significant assigned component made up of encumbered carryovers, project reserves and contingency amounts and asked commissioners to consider how the county’s policy targets and reserve levels should be adjusted for the county’s size and revenue mix.
Nut graf: The presentation explained GASB‑54 fund‑balance categories (non‑spendable, restricted, committed, assigned, unassigned), the DFA required 25 percent reserve, and an internal one‑month 5 percent…
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