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Isanti County adopts capital projects fund, approves transfer to meet new fund-balance threshold
Summary
The board created a capital projects fund and revised the county fund-balance policy to target a 30–45% reserve; commissioners approved a resolution to transfer $2,706,428 of excess funds to bring reserves in line with the new policy.
The Isanti County Board on Dec. 2 approved a revision to the county fund-balance policy that creates a dedicated capital projects fund and adjusts the target reserve threshold to 30–45% of general-fund expenditures.
County staff explained the policy change and the mechanics of establishing the capital fund. Commissioners discussed how much of the general-fund balance to move to the new fund. Staff said the dollar amount that would move the county to the new 45% threshold was $2,706,428 (audited numbers), and the board voted to authorize that transfer by resolution.
During debate several commissioners proposed a lower illustrative CIP funding number (the policy itself requires only the policy language, not a fixed dollar transfer), and a motion to adjust the illustrative $2.2 million figure to $2.0 million passed after a recorded vote. One commissioner and another voted no on that motion, but the main policy and the transfer resolution were approved.
Next steps: staff will update the resolution and execute the transfer in accordance with audited numbers and the board’s direction; the board will continue to discuss specific CIP allocations at the following agenda item and upcoming meetings.
