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Financial services presents $50.7M biennial budget; employee-benefits reserves used to smooth general-fund impact
Summary
County financial staff described a $50.7 million biennial financial services budget that mostly manages internal funds (employee benefits trust, debt service, treasury management). Staff proposed using part of employee-benefits reserves and one-time funds to help offset general-fund shortfalls while warning of federal-grant uncertainty.
County finance staff and deputy financial officer Debbie Sessions briefed the Budget Committee on a $50,700,000 financial services budget that the county manages on behalf of multiple internal funds, including the employee benefits trust and debt-service accounts.
The department’s operations are roughly 16.5% of that total; the remainder are managed funds (employee benefits, debt service, treasury management and trust/foreclosure funds). Sessions and Assistant County Administrator Rick Cracker told the committee the department is self-insured for health benefits and holds a contingency reserve (staff cited a roughly…
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