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Supervisors set budget timeline and warn proposed state limits on reserves could hurt county credit
Summary
Black Hawk County supervisors scheduled a budget work session before an April adoption hearing and discussed concern over a House proposal to cap unassigned fund balances at 35%, with the finance director noting Moody's cites fund balances below 50% as a downgrade risk.
The Black Hawk County Board of Supervisors discussed budget timing and potential impacts of pending state legislation at its March 24 meeting, and staff urged the board to finalize key decisions before publishing the adoption hearing notice.
Michelle Weaver, finance director, briefed the board on legislative proposals being debated at the statehouse that could restrict counties' unassigned general-fund balances to 35 percent. "I went back and pulled our Moody's rating from last May... under the section about factors that could lead to a downgrade of the rating, a…
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