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Barnstable County treasurer reports nearly $76 million in cash, outlines grants and stabilization funds
Summary
Treasurer and finance director Carol Coppola presented Q3 results showing just under $76 million in county cash, management of roughly 80 grants totaling over $55 million in the fiscal year and a $2.6 million undesignated general-fund balance as of June 30, 2024 after ordinance reservations.
Carol Coppola, Barnstable County treasurer and finance director, presented the fiscal year 2025 third-quarter financial results (period ending March 31, 2025) to the Assembly of Delegates on May 21, saying, “As of 03/31/2025, Barnstable County was managing just under $76,000,000 worth of cash.”
Coppola told delegates the county manages about 80 federal, state and local grants totaling more than $55,000,000 within the fiscal year and that cash balances have declined in part because ARPA funds are being expended. She said the county reconciled 21 bank accounts and follows best practices for monthly reconciliations.
Key figures and points Coppola presented included:
- Cash under management: just under $76,000,000 as of March 31, 2025.
- Grants: roughly 80 grants managed in the fiscal year, totaling over $55,000,000.
- ARPA and other restricted funds: several stabilization funds were created or funded by Assembly ordinances; a revenue stabilization fund of just under $14,000,000 is invested in the Massachusetts Municipal Depository Trust (MMDT).
- General fund undesignated balance: the presentation showed an ending undesignated/unreserved general fund balance of about $2,600,000 as of June 30, 2024 after ordinances reserved funds for specified uses; Coppola noted that figure does not estimate the 2024–25 year-end unreserved balance.
- Dredge enterprise: Coppola said $622,000 was outstanding in receivables billed to communities for completed dredging projects and that projections show dredge enterprise revenue is expected to exceed expenditures for the fiscal year.
Coppola addressed delegate questions about bank accounts, interest income and capital ratios. She said the county maintains multiple accounts for diversification and to segregate funds such as ARPA and stabilization funds and that recent investment decisions, including use of MMDT, produced interest income above conservative estimates. On capital and infrastructure, Coppola said the county should continue monitoring deferred maintenance and that a facilities assessment project is forthcoming.
Delegates asked for further breakdowns and Coppola offered to provide additional grant closeout figures and scheduled an audit presentation to the Board of Regional Commissioners for June 25.
