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Spencer County adopts Budget Amendment #2, adds $952,119 to FY24'25 receipts
Summary
On June 2 the Fiscal Court gave second reading and adopted Budget Amendment #2 for FY2024'25, increasing receipts and corresponding expenditures across multiple funds by $952,119.14 to record unbudgeted receipts and transfers; the state local finance office reviewed classification.
Spencer County Fiscal Court on June 2 adopted Budget Amendment #2 for fiscal year 2024'25, which increases the county's recorded receipts and matching expenditures by $952,119.14 across the General, Road, Jail and Opioid funds.
The amendment itemizes unbudgeted receipts, including: reimbursements ($330,454.69), sheriff fee pooling ($117,182.00), state grants and aid ($93,405.00), opioid settlements ($26,043.45) and other business-license and reimbursement lines listed in the ordinance. The amendment also documents transfers and increases to reserve accounts to account for the new receipts.
The ordinance text in the packet lists each affected account code and the amount of the increase. The amendment was reviewed and signed as to form and classification by the Kentucky Department for Local Government (State Local Finance Office) before the Court's second reading and adoption.
The Court recorded a reading and approval of the amendment (second reading). The minutes show the action recorded as approved on the motion (recorded as "On the motion of Esq. Cotton, seconded by Esq. Travis it is hereby ordered to approve the 2nd reading of Budget #2 FY 2024-2025").
Why it matters: the amendment recognizes and allocates unanticipated or delayed revenues and adjusts reserves and program accounts accordingly; it formalizes transfers and earmarks funds for specific lines and reserves for transfer between funds.
Provenance: Ordinance text and recorded motions in the meeting minutes (transcript segments: SEG 026, SEG 027, SEG 028).
