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County finance staff outline plan to move $15.5M loan from general fund to treasurer and create $15M stability fund
Summary
County staff explained a plan to resolve a long‑term $15.5 million loan initially made from the general fund to the Flood Control District by repaying the general fund and replacing the loan with an authorized treasury loan; staff also described a $15 million one‑time stability fund to cushion potential federal funding shortfalls.
Coconino County finance staff briefed the Board of Supervisors on a recommended restructuring of a previously issued $15.5 million loan to the Flood Control District and on a proposed $15 million one‑time “stability fund” intended to provide budget runway in the face of federal funding uncertainty.
Auditors and legal staff determined the general fund did not have explicit statutory authority to hold a long‑term receivable structured as a long‑term loan to the Flood Control District. County staff described a mechanism to resolve the legal issue:…
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