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Chippewa County reports $4.14 million in 2024 fund-balance transfers; board begins 2026 budget process
Summary
Finance director presented pre-audited 2024 results and first-quarter 2025 updates, including $4.14 million in year-end transfers, a $2.3 million transfer to shore up health-insurance reserves, and a kickoff of the 2026 budget process and timeline.
Chippewa County Finance Director Lori Sweeveler told the County Board on Thursday that pre-audited 2024 financial results included $4,141,174.84 in year-end fund-balance transfers and that the county transferred $2,300,000 to its self-funded health insurance reserve to stabilize that fund.
Sweeveler said those transfers, combined with other routine closings, would have increased the county’s unassigned fund balance by $4,141,174.84 but that, to comply with the county’s fund-balance policy, additional transfers were made. “If all of our lapsing funds closed to the general fund, we would have increased our unassigned fund balance by $4,141,174.84,” she said.
The transfers were tallied as $2.3 million to the health-insurance reserve to address an unexpected loss in the self-funded plan; $600,000 for M&T projects…
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