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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 the opioid settlement fund is about $1,580,000. - Fund balance policy and transfers: Under the board’s fund‑balance policy, amounts above 30% of annual operating budget may be reallocated; Bhatt said excess general fund amounts were split 50/50 between pension stabilization and capital improvements, with about $3.5 million transferred to the pension stabilization fund in 2024 and the capital improvements fund expected to end 2024 near $4.5 million. - Delinquent tax revolving fund: Bhatt noted the delinquent tax revolving fund carries a multi‑million dollar balance (over $10 million) used by the treasurer to purchase uncollected tax rolls from townships and villages.
Commissioner questions and follow up requests Commissioners asked whether the summary spreadsheet was generated directly from the county ERP (myGTC) or compiled manually; Bhatt said the underlying numbers trace to the audited statements and that he prepared a concise summary for the board. Commissioners asked staff to flag small or inactive funds (e.g., Maple Bay Development, Mitchell Creek, special projects) and to report legal restrictions tied to those funds before proposing any reallocation.
Excerpts and clarifications Bhatt explained the institutional reasons behind some amounts: the pension stabilization fund received a $2 million prefunding payment in December 2024 and the accounting treatment of enterprise funds differs from governmental funds.
Next steps Bhatt agreed to provide updated figures after the audit close and to identify inactive funds and any statutory or grant restrictions attached to them so the board can consider spend‑down or repurposing options at future meetings.
Quotes “We are in the process of closing 2024,” Bhatt said. “It currently has $1,580,000 in it,” he added referring to the opioid settlement fund. Commissioner Andrews asked staff to produce a concise list of inactive funds and the restrictions on reallocating those dollars.
