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Board reports $74,991 deficit through February but reserve remains $744,431
Summary
At its April 9 meeting the Commerce & Insurance board reviewed fiscal reports showing a $74,991 deficit through February 2025 while a reserve balance of $744,431 remains in place; board members expressed no immediate concern and accepted the financial report.
Board member Chip Hellman told the Commerce & Insurance board on April 9 that the department’s fiscal report through February 2025 shows a deficit of $74,991 but a reserve balance of $744,431.
The update, posted on the board’s meeting materials and reviewed on page 17 of members’ iPads, reflects fiscal activity through February. "They do reflect a deficit of $74,991," Chip Hellman said. He added that current expense levels are “about as low as we can do” and that the reserve balance leaves the board “enough to not be concerned and see how things play out.”
The board did not debate additional budget cuts at the meeting. No new budget actions or amendments were proposed during the session; members were invited to ask questions but raised none. The financial materials were part of the packet distributed to members in advance of the meeting.
The board approved routine meeting procedures, and the financial report remained as presented for future monitoring. The meeting materials indicate the board will revisit budget reports at future meetings as needed.
