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Finance outlines proposed working-capital policy changes and new bank-reconciliation procedures
Summary
Finance presented a draft update to the county’s working-capital (fund balance) policy and described operational changes to bank reconciliation and cash-handling procedures; no committee action was requested — staff sought direction on policy parameters and asked to bring comparable-county examples back.
Finance Director Sam presented an educational update to the committee proposing clearer, user-friendly language for Marathon County’s working-capital (fund balance) policy and described changes to bank reconciliation and cash-handling procedures to address audit findings.
Sam said the draft policy uses guidance from the Government Finance Officers Association and GASB pronouncements (including GASB 34 and GASB A54) and proposes a minimum/maximum working-capital designation…
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