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Committee advances budget packet with small net decrease; estimated ending fund balance reported
Summary
Committee members approved the packet totals with changes discussed across departments and were told the projected ending fund balance for fund 01/16 is approximately $319,951 under a 92% revenue assumption.
The Budget and Finance Committee advanced the reviewed budget packet with several line-item changes and reported a projected ending fund balance under the packet assumptions.
Finance staff explained packet math and said revenues are projected at 92% for certain funds while expenditures are budgeted at 100%, which produces an apparent spending gap; staff gave an estimated ending fund balance for fund 01/16 of $319,951 under the packet’s assumptions. Committee members asked for and were told staff will provide amended budget-line projections and actual prior-year ending balances in a future report. The committee approved the packet items discussed during the meeting; the chair noted a net change (negative) of $55,487 and an ending fund-balance figure presented in the packet.
Members were also reminded that a budget amendment will be brought next month addressing CARES Act health-department funding and other requested clarifications. The committee adjourned after motions to approve the remaining items on the packet.
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