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Walworth County creates capital projects and transit funds, approves reserve transfers and orders tighter fund-balance controls
Summary
The Finance Committee advanced ordinances and resolutions to move capital reserves into a capital projects fund, establish a transit fund, and directed staff to draft tighter rules on using fund balance and to begin quarterly reporting of related revenue budget amendments.
Walworth County's Finance Committee on Thursday approved multiple ordinance and resolution changes to reorganize capital reserves, create a transit fund and begin tightening controls and transparency over the use of fund balance and related revenues.
The committee adopted Ordinance 7-25 and Resolution 7-25, which transfer building and equipment reserves and park reserves into the capital projects fund and establish a committed reserve for the county's five-year capital improvement plan. "We're transferring over the building and equipment reserves and the park reserves over to the capital projects fund," a finance staff member explained during the presentation.
Under the new presentation, staff said the $7,900,000 previously labeled as building and equipment reserves would be shown instead as $3,700,000 set…
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