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Oakland County approves fiscal year 2025 deficit‑elimination plan; staff says deficits are timing issues
Summary
Board approved a plan to address seven fund deficits identified in the FY2025 ACFR; staff said deficits stem largely from reimbursement timing and capital‑project financing and are expected to be resolved in early FY2026 with receivables and budgeted matches.
Oakland County staff presented and the Board of Commissioners approved the county’s FY2025 deficit‑elimination plan, a required resolution that documents how funds with negative unassigned balances will be addressed.
Deputy CFO Cheryl Johnson and Candice Styles, chief of central fiscal services, told the board seven funds showed negative unassigned fund balances at the ACFR snapshot…
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