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Davenport presents recommended financial-policy guidelines; Board schedules follow-up work session

Nelson County Board of Supervisors · December 10, 2024

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Summary

Davenport & Company recommended minimum fund-balance and debt metrics — a minimum 30% unassigned fund balance plus a 5% budget stabilization fund (35% total) and debt ratios including a 3.5% debt-to-assessed-value target — and the Board agreed to additional review in a budget work session.

Davenport & Company Vice President Ben Wilson presented a draft set of county financial policies on Dec. 10, urging the Board to adopt guidelines covering fund balance, revenue recognition, capital programming and debt limits ahead of planned borrowing for the DSS building and other projects.

Wilson said Nelson County’s unaudited 2024…

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