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Bureau reports healthy reserves across three funds, projects months-in-reserve to decline
Summary
The Bureau of Household Goods and Services presented fiscal 2021 fund-condition projections showing positive fund balances for the electronic and appliance repair, home furnishings and thermal insulation, and household movers funds, while forecasting declines in months-in-reserve over the next two budget years.
The Bureau of Household Goods and Services told its advisory council on Aug. 26 that all three program funds remain solvent for fiscal 2021 but are projected to see reduced months in reserve in future budget years.
Heather Robinson, the budget analyst with the Department of Consumer Affairs, presented the fund-condition statements and said, “We are projecting revenues to come in at $3,234,000” for the electronic and appliance repair fund and projected expenditures of $2,692,000, leaving a fund balance of about $4.27 million and 11.3 months in reserve for 2021.
Robinson said the home furnishings and thermal insulation fund is projecting $4.93 million in revenue for 2021, with…
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