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Ocean Shores finance committee flags tighter general fund after cost-allocation true-up
Summary
The Ocean Shores finance committee reviewed a year-end cost-allocation true-up that staff say reallocated revenues and left the general fund 'below 2.5' (unit not specified in the transcript), prompting calls for clearer budget baselines, monthly monitoring and updated financial best practices ahead of the 2027 budget.
The Ocean Shores Finance Committee met March 10 to review January financial statements and a year-end cost-allocation true-up that staff said reallocated revenues away from enterprise funds and into the general fund, producing a lower-than-expected reserve level. Chair said the January statements were distributed late because staff completed the true-up 'as part of the city's cost-allocation implementation.'
The chair told the committee the general fund "has now dipped below 2.5" (the transcript did not specify the unit for…
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