Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Interfund Loan topic
No spam. Unsubscribe anytime.
Board to consider interfund loan between general basic and debt service funds to cover June debt payment
Summary
County finance presented a draft resolution authorizing an interfund loan from the general basic fund to the debt service fund in case June collections leave the debt service fund short; the resolution will be on the formal agenda for adoption tomorrow.
Dan Ashenbrenner, county finance staff, presented a draft resolution to establish an interfund loan between the general basic fund and the debt service fund. He said the loan would be a contingency measure to ensure the county can meet an upcoming debt service payment on June 1 if tax collections come in lower than expected.
Ashenbrenner described the draft as a “fail safe” that would authorize the auditor to move sufficient cash from the general fund to the debt service fund if needed; he said staff will present the resolution for formal adoption on the board’s upcoming agenda. No formal action was taken during the work session.
