Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Finance Committee discusses using investment earnings to build working capital reserve
Central Virginia Transportation Authority Finance Committee · October 10, 2024
AI-Generated Content: All content on this page was generated by AI to highlight key points from the meeting. For complete details and context, we recommend watching the full video. so we can fix them.
Summary
Staff proposed using investment earnings to fund a working capital reserve equal to three months of budgeted regional CBTA funds; PFM projected the remaining shortfall could be filled in about 15–16 months using earnings and staff will track the reserve separately until fully funded.
Finance staff presented a draft working capital reserve lending strategy and PFM recommended directing investment earnings toward fully funding the reserve.
PFM advisor Christy Choi said the target reserve equals three months of budgeted regional CBTA funds — currently estimated…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
30-day money-back on paid plans
