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Belknap County reports year-end fund balance and approves $62,238 nursing-home write-off
Summary
Treasury staff reported revenues and expenses for the period and commissioners approved a $62,238 write-off of uncollectible nursing-home accounts plus an increase to the allowance for doubtful accounts, resulting in a net fund-balance decrease of $77,238.
County financial staff presented the revenue and expense report for the period and recommended adjustments to nursing-home receivables, which the commissioners approved.
Staff reported receipt of the fourth-quarter Medicaid incentive at $246,001, producing a revenue surplus of $820,476 and an expense surplus of $595,174. Combined, staff said those surpluses add $1,415,650 to the county's fund balance. After accounting for recommended receivable write-offs and adjustments, staff reported an end fund balance of $4,915,900 and said the projected fund balance for 2025 of $3,615,900 is within policy.
Treasury staff also said the county was arranging a Tax Anticipation Note (TAN) with an anticipated closing date of March 3 and that accounts-receivable collections remained strong (reported as between 96% and 98%).
Separately, county staff recommended a 2024 nursing-home uncollectible-accounts write-off of $62,238 for resident accounts deemed uncollectible. Staff said the county currently held $45,000 in the allowance for doubtful accounts and recommended increasing that allowance to $60,000 because Medicaid approvals are taking longer and managed-care denials have increased. Commissioners discussed example cases in which managed-care plans reversed approvals and county staff had appealed to the New Hampshire Insurance Department.
County staff explained the accounting entries and presented two net-impact calculations; after clarifying how the write-off and allowance change interact, staff said the net decrease in fund balance from the action would be $77,238. Commissioners moved and approved the recommended write-off and the increase to the allowance for doubtful accounts; meeting audio records indicate the motion carried with unanimous "Aye" responses recorded on the motion.
Why it matters: the write-off and allowance change reduce the county's fund balance for 2024 and reflect operational challenges in collecting nursing-home revenue, including longer Medicaid processing times and managed-care denials.
