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Commissioners adopt year-end financial adjustments; county explains brief cash‑flow borrowing and state loan use
Summary
Lee County commissioners approved fiscal year 2023–24 carryovers and fund balance adjustments and heard staff explain a short-term internal borrowing to cover cash‑flow timing after recent storms and the use of a $25 million state loan for Hurricane Ian cash needs.
Lee County commissioners unanimously approved fiscal year 2023–24 fund-balance adjustments and budget carryovers on Jan. 21 and received a formal explanation of a temporary cash-flow move made after consecutive storms.
County finance staff reported that year-end reserves were stronger than projected. The county reported an updated ending reserve of about $96.8 million, up from a forecasted $92.3 million, and noted the board-authorized plan to hold $20 million for potential 2025–26…
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