Oklahoma County reports $8.49 million reserve, general fund cash of $48.4 million
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Summary
At the April 6 Oklahoma County meeting the county clerk presented the March monthly financials: $8,487,687 in reserves, $48,403,622 cash in the general fund and an employee benefits fund balance of $5,489,604; staff flagged two reserve transfers later on the agenda.
County Clerk Brooke presented Oklahoma County’s monthly financial snapshot for the period ending March 31, saying the general fund reserve balance was $8,487,687.36 and the county-wide general fund cash position was $48,403,622.
The report noted two requested transfers on the same meeting agenda: a $75,000 transfer to juvenile detention and a $50,000 transfer to the planning commission. If approved, Brooke said those two actions would reduce the reserve balance to $8,362,687. She said the reserve and budget pages would reflect the changes in next month’s report.
Brooke explained a 35% year-over-year increase in cash compared with the prior year. She said the percentage was calculated with a standard percent-change formula: (this year minus last year) ÷ last year.
On the employee benefits fund, Brooke reported cash on hand of $5,489,604 as of March 31. John Wilkerson provided the benefits update, saying medical and prescription claims were up about 4% and that the plan was about $118,000 over budget through March with two months remaining in the fiscal year.
Wilkerson also gave an update on the county-run pharmacy launched in February: 920 prescriptions were filled in February and 1,426 in March, a 67% month-over-month increase. He encouraged employees to use the county pharmacy to reduce costs for the plan and members.
Brooke closed the summary by noting the capital projects unallocated funds were $473,413 and invited questions; none were raised at the time.