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Pondera County adopts resolution to loan general fund to four accounts ahead of fiscal year end
Summary
Commissioners approved Resolution No. 1 to temporarily loan general-fund money to four county funds awaiting reimbursements so those funds show zero balances at fiscal year end; loans will be reversed July 1 as reimbursements arrive.
Pondera County commissioners adopted Resolution No. 1 on July 9 to temporarily loan money from the general fund to bring four county funds to a zero balance at fiscal year end, officials said.
Commissioner 1 explained the funds and amounts the county is awaiting: the airport is owed $270,619 in Federal Aviation Administration reimbursement; the Northern Transit interlocal amount reimbursable through Tooele County is $44,267.77; the Alliance for Youth grant balance is $1,434.74; and the WIC grant balance is $4,450.39. “So to get those funds to a 0 balance for fiscal year end, we loan those funds … out of the general fund, and then it is reversed July 1 as we then wait for the money to come in,” Commissioner 1 said.
Commissioner 2 moved to adopt Resolution No. 1; Commissioner 3 seconded the motion. After affirmative responses, the chair declared the motion carried.
The resolution documents short-term internal loans pending outside reimbursements; county staff said the loans will be reversed on July 1 when the reimbursements arrive.
