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Finance director outlines fund accounting, $1.58M opioid settlement and fund transfers; commissioners ask to flag inactive funds
Summary
Finance director Dean Bhatt reviewed county fund accounting, reporting that the opioid settlement fund holds about $1.58 million and that board policy moved roughly $3.5 million to pension stabilization and $3.5 million to capital improvements in 2024. Commissioners asked staff to identify inactive or low‑activity funds (Maple Bay, Mitchell Creek) and explain restrictions before any reallocation.
At the Grand Traverse County study session, Finance staff presented an overview of the county’s fund accounting, year‑end close status and several specific fund balances and transfers.
Dean Bhatt explained the county uses fund accounting to track resources and expenditures by fund and said the county was in the process of closing the 2024 books with several year‑end adjustments still pending. “We are in the process of closing 2024,” Bhatt told commissioners, noting some revenues—marijuana distribution and certain court receipts—were still being recorded.
Key budget figures and policy - Opioid settlement fund: Bhatt said the fund balance for…
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