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Wright County accepts treasurer's semiannual report; one township TIF error to be corrected
Summary
The Board accepted the treasurer's semiannual report showing fund activity and bank balances within authorization. Officials said a software error caused TIF money to be misapplied for one township; staff expect correction in the next tax cycle.
The Wright County Board of Supervisors received and accepted the county treasurer's semiannual report on Jan. 27. The report included fund activity through Dec. 31, bank balances by institution and a list of outstanding checks.
According to the treasurer's presentation, all bank balances fell within authorized limits. The report listed outstanding checks still uncashed after Dec. 31; the treasurer said the county holds such checks for about a year and will reissue as needed.
Board members asked about a negative balance flagged for one township (listed as township number 20). County staff said the negative balance resulted from a software issue involving tax-increment financing (TIF) funds: the software incorrectly treated a TIF as fully satisfied and distributed the money to taxing entities instead of applying it to the TIF. Staff said township officials have been notified and the issue should correct itself in the next tax cycle.
A supervisor moved to receive the semiannual report; the motion was seconded and approved by voice vote.
