Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Marathon County committee reviews revised fund-balance policy, debates non‑lapsing contingency accounts
Summary
The Marathon County Human Resources, Finance and Property Committee discussed a revised fund‑balance policy that embeds a working‑capital designation for governmental funds and debated creating non‑lapsing contingent accounts for specific departments, with staff directed to return with additional detail before any policy is adopted.
The Marathon County Human Resources, Finance and Property Committee discussed a revised fund-balance policy that embeds a working-capital designation for governmental funds and clarifies fund-balance classifications on the county’s financial statements.
Committee members spent most of the meeting reviewing definitions aligned with GASB 54, the order of fund-balance spending, a minimum working-capital target, and a proposed set of non‑lapsing contingent accounts that would roll over excess year‑end revenue to department‑specific reserves only with committee and full‑board approval. ‘‘These are not funds that the departments have access to to spend in any form or fashion,’’ Administrator Chris said, describing the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
