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Colfax County adopts FY2026 budget, approves year-end transfers and posts financial report
Summary
The commission adopted the final FY2026 budget, approved multiple year-end fund transfers and received a quarter/annual financial report showing government funds cash balances and a projected general-fund deficit in the final budget.
The Colfax County Commission on July 15 adopted the county’s final budget for fiscal year 2026, approved several year-end accounting transfers and heard a treasurer’s report summarizing cash balances and receipts for the year ended June 30.
County finance staff said the final general-fund ending cash balance (excluding investments) is $6,386,000; general fund half GRT (gross receipts tax) receipts were $2,759,000 and hold-harmless receipts $1,599,000. The treasurer reported total governmental fund cash of $23,954,000; total receipts for the year were about $25,500,000 and total disbursements $19,686,000.
Finance staff explained a large retroactive transfer tied to a TIGER grant — about $3.9 million — and other transfers that reallocated GRT and debt-service items to the county’s debt service fund to match prior-year financial statement presentation. The commission approved a set of budget adjustments and a number of transfers intended to correct year-end bookkeeping, move debt-service liabilities to the debt-service fund and provide budget authority for previously approved uses (including a $60,000 lodgers-tax match for the event center).
The county’s finance director told commissioners the adopted final general-fund budget projects a $650,000 deficit, but noted typical personnel vacancies would reduce that shortfall in practice; he warned that filling currently vacant positions or addressing unfunded maintenance obligations could reopen deficits.
Commissioners approved the budget and the transfers by roll call. Staff said the county will continue to refine financial policies and complete outstanding audit work and federal-closeout tasks for the TIGER grant before the grant’s final closeout date in September.
The commission also adopted a separate budget-adjustment resolution to shift principal and interest expense from the capital-improvements fund to the debt-service fund to align presentations with prior financial statements.
