Monterey County board accepts year-end budget report, sets aside $20M for reserves and funding priorities

The Monterey County Board of Supervisors voted Tuesday to accept the county'''s Budget End of Year Report (BEAR) and to adopt staff recommendations allocating a portion of a roughly $39.9 million unassigned fund balance.

Assistant County Administrative Officer Michael Beaton told the board the county began the fiscal year with about $32 million in unassigned fund balance and closed the year with about $39.9 million, in part because of one-time revenue and reimbursements. "We actually ended with 39,900,000.0," Beaton said during the presentation, which focused on the general fund component of county operations.

The board approved staff'''s proposal to hold $20 million in unassigned fund balance, set $8 million aside for a building acquisition, increase the contingency reserve by $2 million and place $4.8 million into the strategic reserve. That package of allocations was presented by staff as a way to smooth an expected shortfall…