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Budget committee recommends $600,000 short-term cash flow to education capital, raises and multiple fund amendments
Summary
At a June 16 workshop the Loudon County budget committee recommended a $600,000 cash flow from county general to education capital projects, supported promotion-related pay increases in the sheriff's department, accepted a senior center grant, and proposed several end-of-year budget amendments affecting multiple county funds.
Erin, budget committee staff, told the commission that the committee recommended a resolution to provide a $600,000 cash flow from the county general fund to education capital projects, to be reimbursed from school bond proceeds once received.
"There was a consideration of request to approve a resolution for cash flow from county general to education capital projects in the amount of $600,000. Reimbursement will be made from the bond proceeds once they're received," Erin said.
The committee also recommended acceptance of a Tennessee Senior Center grant (no match required) with awards ranging between $10,000 and $50,000, and recommended promoting two sheriff's department employees with an additional $3,000 increase on top of the cost-of-living adjustment. Erin described several line-item adjustments and end-of-year wage estimates across county funds.
The staff summary listed net changes to fund balances: an overall decrease to fund balance of $388,035 for the general fund amendments described; an increase to library fund balances through small donations totaling $5,500; a decrease of $46,980 in the recycling centers fund reflecting lease payments for an expansion; and a $13,216 increase in the highway fund after realignments.
Erin said the Good Samaritan Center purchase under an existing grant includes a van; the county will transfer the asset under the grant once the vehicle is received and per a memorandum of understanding with the East Tennessee Development District.
Commissioners heard clarification from others that the county had been working on the Good Samaritan grant and van purchase since December 2022 and that the county was not simply handing over cash for a vehicle.
Staff also told commissioners that budget entries were being recorded to recognize contracts tied to a recently approved school capital bond resolution of roughly $93 million so that those contracts are reflected in the county budget.
Separately, a county finance staff member said the county's call with Moody's indicated confidence the county will maintain its AA2 rating.
Why it matters: The committee's recommendations, if approved by the commission, alter fund balances and authorize temporary cash flow for school capital projects pending bond proceeds. The recommendations also include personnel pay adjustments and grant acceptances that affect staffing budgets and county services.
