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Boone County finance committee reviews budget, flags $5 million accounting discrepancy and approves contracts
Summary
At the Jan. 15 Committee of the Whole for Finance meeting, the treasurer reported $136,900 in bond earnest money and flagged a $5,000,000 discrepancy in Fund 30 balances; the committee reviewed 2025 budget variances and ARPA spending, approved a CCS owner's-rep contract for 2026 and authorized replacement of courthouse electrical panels.
The Boone County Committee of the Whole for Finance met Jan. 15 and heard a series of financial updates, adopted two procurement-related approvals and discussed proposed fee changes for animal services.
Treasurer Newport reported the county received $136,900 in earnest money from that morning's bond sale and reviewed investment activity. He flagged an apparent accounting/display discrepancy in Fund 30, the capital improvement fund, saying the fund's balance "is actually $5,000,000 higher than what's listed there" and that "the money's only missing from the paperwork. It's not missing anywhere else." Treasury staff said they will recheck journal postings and contact Tyler (the financial system vendor) if necessary.
Finance staff…
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