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Council discusses supplemental LIT distribution and whether to set part aside for rainy day fund
Summary
Councilors reviewed a larger-than-expected supplemental local income tax distribution May 27 and asked the finance committee to analyze whether part of the funds should be placed into the county rainy day fund instead of spending them from county general.
Delaware County Council discussed a supplemental LIT distribution the county received and whether to place part of the funds into the county’s rainy day savings instead of spending the money in county general.
Finance staff presented a distribution summary dated May 21 and said the county’s share will go into county general. Council members noted the supplemental distribution is "substantially higher than last year" and asked where the county’s certified share would be allocated; staff said public safety and economic development shares go into their respective funds while the county share posts to county general.
Council members asked for more data and asked the finance committee to prepare an analysis showing current balances, the county general cash position and the potential consequences of setting aside a portion for rainy day. During discussion council members referenced a rainy day balance of roughly $600,000 (stated as the last known amount), county general cash of approximately $1.89 million as of April 30 (staff cautioned this is cash, not surplus), and an earlier referenced surplus figure near $7 million; staff said they would provide precise figures and return to finance for recommendations.
No appropriation decision was made; council directed the finance committee and county staff to review balances and present options at a future meeting.
