Committee reviews revised fund-balance policy, discusses non‑lapsing accounts and proprietary funds

Marathon County’s Human Resources, Finance and Property Committee reviewed a draft fund-balance policy that embeds the county’s working-capital designation and aligns fund classifications with GASB 54.

The policy as presented addresses only governmental funds, defines nonspendable/restricted/committed/assigned/unassigned classifications, establishes an order of fund-balance spending, and proposes minimum working-capital targets aligned with prior guidance. It also includes optional non‑lapsing contingent accounts and equipment‑replacement/capital‑repair funds that would require committee and full‑board approval to expend.

Committee Chair Gibbs said the goal was clearer, plain‑language explanations so board members and the public understand the math and the purpose behind classifications. Sam (finance staff) said the draft mirrors GASB 54 language, clarifies that the policy covers governmental (not proprietary)…