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HHC CFO reports April fund balance decline; board told refinancing of Build America bonds may be proposed in June
Summary
Interim CFO James Simpson presented April financials showing a decrease in the general fund balance driven by intergovernmental transfer expenses and open purchase orders; staff projected an estimated $30 million decrease in change in fund balance for 2025 and said a Board resolution to begin refinancing Build America bonds is planned for June.
Interim Chief Financial Officer James Simpson presented the April financial report to the board and said the change in the general fund balance through April 30 reflected an approximate $4.5 million drop driven by larger-than-expected intergovernmental transfers (IGTs). Simpson said some revenue lines were above budget while grant revenues were under budget; he attributed higher-than-budget…
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