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Finance staff report stronger-than-expected general fund position; committee asks for fund-balance policy
Summary
County finance staff told the Ashland County Finance Committee that preliminary 2024 closeout activity and a Department of Revenue reimbursement leave the general fund in a healthier position than recent years. Committee members asked staff to draft a formal fund-balance policy and a budget-amendment policy to guide future decisions.
Finance staff presented a preliminary closeout of Ashland County’s 2024 budget and said accruals and one-time transactions have materially changed the general fund position.
Chief finance presenters said departments continue to post expenses for services performed in 2024, and a standard accrual and closeout process will continue for several weeks. Staff noted some lines—especially human services and the county road and bridge fund—will change as late-arriving billings and enterprise fund transfers are posted.
The report identified an abnormal, one-time revenue transaction tied to the Sanborn properties: a court order nullified certain real-estate tax receivables, and the Wisconsin Department of Revenue subsequently provided roughly $1.7 million in state aid related to that decision. The combination of the write-off and the state aid moved amounts within fund categories and increased the county’s unassigned general fund balance in preliminary calculations.
“Your unassigned general fund balance, when I did this a few weeks ago, shows about $1.8 million,” a finance presenter said, adding that the county will likely close the year with a positive general fund position and that the number will move as accruals finalize.
Staff also reviewed the county’s ARPA/LATCF fund status and reported an estimated $300,000–$400,000 of remaining balance that could be used to help close out a self-insured health plan. Committee members asked staff to document that approach in upcoming reporting to ensure compliance with federal reporting requirements.
Committee members asked finance staff to draft a formal fund-balance policy and a budget-amendment policy. Staff said they would prepare drafts using Government Finance Officers Association (GFOA) guidance and present them to the finance committee in the coming months. A presenter noted GFOA targets a 15–25% fund balance range as a benchmark and that the county’s projected balance would put it within a reasonable range for its expenditure level.
Committee discussion also touched on timing: staff said many accruals will be posted by May when the statewide closeout processes finish, and that numbers shown in the committee packet are preliminary. Members asked for additional detail on specific funds and for the proposed policy drafts to include thresholds and procedures for budget amendments.
The committee did not take formal action on the closeout numbers at the meeting but asked staff to return with the written fund-balance policy and a recommended budget-amendment process.
