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Assembly creates special-purpose stabilization fund, transfers most unreserved balance
Summary
The Assembly approved an ordinance creating a special-purpose stabilization fund and moving roughly $13.9 million of the county's unreserved fund balance into it while retaining about $3.5 million (about 15% of projected FY25 operating budget) as an unreserved balance per S&P guidance.
The Barnstable County Assembly of Delegates unanimously approved an ordinance (with a substitute amendment) on Sept. 4 to establish a special-purpose stabilization fund and appropriate most of the unreserved fund balance into that fund.
What was approved: The substitute ordinance sets the transfer amount at about $13,901,304 and leaves roughly $3,500,000 in unreserved balance, consistent with the…
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