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Cabell County projects bond‑project shortfalls, plans transfers from general fund; projected fund balance remains above GFOA minimum
Summary
Finance staff updated the board on FY25 bond projects and fund balance. Several projects show funding shortfalls; staff said they plan targeted transfers from the general fund and remain above the GFOA two‑month reserve recommendation on the current projection.
Cabell County Schools finance staff told the school board that current estimates for ongoing bond projects include several funding shortfalls that will require transfers from the general fund but that the district’s projected year‑end fund balance remains above the Government Finance Officers Association (GFOA) recommended minimum.
At a work session presentation, Chief budget staff (presenter) reviewed four bond projects and line‑item estimates for completed and planned expenses. For the Woody Williams Center, staff said $39,300,000 in bond funds has been applied to that project and about $23.3 million of additional funding is expected from the general fund; staff estimated a roughly $150,000 additional general‑fund contribution for furniture,…
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