Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Finance staff: agencyfund balance is $713,000 on paper but usable reserve drops to about $27,000 after liabilities
Summary
County finance staff told the board that while the agency's statement shows an unrestricted fund balance of roughly $713,000, once pension, OPEB and other long-term liabilities are accounted for the amount practically available for budgeting falls to about $27,000; the board was advised to treat $27,000 as its planning 'bogey.'
Finance staff briefed the board on the agency—inancial statement and long-term liabilities, recommending a conservative planning approach for the coming budget.
Chair introduced Glenn Murray and Sam Riddle from county finance. Glenn explained the agency—inancial statements show an unrestricted cash reserve (fund balance) of about $713,000, but that required accounting for noncurrent liabilities would reduce funds…
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
