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County finance presenter says year‑end accounting adjustments produced a $401,284 paper deficit; March shows a small surplus
Summary
Winnebago County finance staff told the committee that a GASB pension adjustment and an increase in compensated‑absence liabilities drove a December year‑to‑date accounting deficit of $401,284; March year‑to‑date figures show a roughly $254,896 surplus but staff cautioned receipts and timing can change that figure.
Winnebago County finance staff briefed supervisors April 16 on December 2025 and March 2026 financial results, telling the committee that accounting adjustments tied to pensions and compensated absences explained an end‑of‑year paper deficit but did not represent immediate cash use.
The finance presenter (S4) walked members through the December numbers, reporting a year‑to‑date deficit of $401,284. S4 said the largest drivers were a Governmental Accounting Standards Board (GASB) pension adjustment of about $276,437 and a rise in compensated‑absence/fringe liabilities; combined, those two items totaled about $702,630 on the accounting schedules.
"Those two items really aren't uses of cash," S4 said, explaining the entries are accrual‑based accounting adjustments tied to pension funding and employee time‑off balances. Finance staff said the pension change is driven by the state pension fund's annual valuation, which can vary year to year.
On March results, S4 reported year‑to‑date revenues and expenditures tracking roughly in the 22–25% range of the annual budget across categories and showed a paper surplus of $254,896. S4 cautioned that the surplus is influenced by timing — some revenues and expenses post in the following month — and said the county should expect the figure to shift as late entries clear.
Committee members asked about the auditors and timing; S4 said auditors will be on site in the next two weeks and reiterated that the GASB and compensated‑absence adjustments are the primary reasons December looked worse on paper.
The committee did not take a formal fiscal action at the April meeting; staff said they will continue to monitor monthly results and provide updates once auditors complete their review.
