Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Chilton County commissioners consider formal reserve fund policy to cover emergencies
Summary
Commissioners discussed adopting a formal fund-balance policy that would set a general fund reserve at 25% of annual expenditures and 15% for other funds, and place reserves in FDIC- or SAFE-protected accounts.
Commissioners in Chilton County discussed a proposal to adopt a formal fund-balance policy to establish operating reserves for unexpected expenses.
Under the proposal read during the meeting, the county would hold 25% of the general fund's annual expenditure budget in reserve and 15% for other departmental funds. The proposal also says those reserve funds would be placed in investment accounts protected by the Federal…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
