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Geary County finance director: early-year spending elevated but cash position stable; S&P rating raised to A+
Summary
Finance Director Tammy Robinson told the Geary County Board of Commissioners on Monday that early-year budget percentages are skewed by timing of large annual payments and payrolls, and that the county's bond rating was upgraded by S&P to A+.
Finance Director Tammy Robinson presented the county's March financial briefings at the commission meeting, telling the board that the county has completed fiscal 2024 and is showing routine early-year spending patterns as staff record major annual charges and payroll timing.
Robinson said the county is 16.67% into the fiscal year and that several departments appear above that proportion because of timing: half of certain appropriations are disbursed up front in January, vehicle and property insurance premiums are billed annually and drive early-year expense spikes, and there were three payrolls in January that pushed personnel costs higher than a single-period average. She emphasized that these timing effects typically normalize as the fiscal year progresses and that finance will monitor any accounts that require attention.
Robinson also reviewed capital improvement program (CIP) cash-flow summaries, building and health-department CIP items, and fund composition and reconciliation reports. She said a prior reporting error misclassified a waste-disposal certificate of deposit but that the Treasurer's office is correcting the entry for the next report.
Robinson concluded by telling commissioners she was waiting for final publication of an updated bond rating report. Shortly thereafter she reported that Standard & Poor's had upgraded the county's rating from A to A+. "It pretty much tells whether you're doing your job, as far as management, debt, and that includes debt, investment, and just overall management," she said. Robinson said the county will publish the rating and the supporting report when it is uploaded to the S&P website and noted that a stronger rating could help the county secure better terms if it proceeds with debt for capital projects such as a detention center.
No formal action was required on the finance presentation; Robinson asked the commission to sign a CIP project-funding authorization form for the sheriff detention-center needs assessment as an administrative follow-up.
