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Commissioners consider $5.1 million open reserve, weigh financing vs. fund-balance for $8.2M capital list
Summary
Finance staff recommended a $5.1 million budget reserve for ‘open items’ tied to uncertain state actions and presented a $8.2 million list of nonrecurring vehicle and equipment purchases that could be financed ($1.9M annual) or paid from fund balance.
St. Mary's County finance staff asked the Board of County Commissioners on March 4 to budget a $5.1 million reserve for “open items” while state and federal budget changes remain uncertain.
The reserve would cover items awaiting state action, including a possible increase in county funding of assessments and the Board of Education pension pick-up. Vanetta Van Cleef, the county chief financial officer, told commissioners the reserve “is included in the analysis” and would let the county “pivot quickly” if state decisions free up money (presentation of state timeline and open items).
Why it matte…
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