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Finance director outlines proposed working-capital policy and updated bank-reconciliation procedures
Summary
The finance director presented a draft working-capital policy (proposing a minimum of roughly 2.4 to 3.6 months of operating coverage guided by GFOA and GASB guidance) and described operational changes to centralize monthly bank reconciliations in finance and improve cash-deposit controls across departments.
Finance Director Sam and staff presented an informational update on a proposed revision to the county’s working-capital (fund balance) policy and on updated cash and bank-reconciliation procedures.
Sam said the draft policy translates Government Finance Officers Association guidance and GASB fund-balance classifications into a user-friendly formula intended to provide the county with a clearer operational buffer for cash flows. The memo discussed high-disbursement months (for Marathon County these include February,…
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