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County auditor outlines fund‑balance categories; Emerald Fund balance cited at $384 million
Summary
Auditor Craig Boyer briefed the board on fund‑balance categories, including roughly $600 million in restricted funds and more than $1 billion in committed balances; staff said the Emerald Fund’s balance is $384 million and its interest earnings pay juvenile‑hall debt of about $80 million.
The Alameda County auditor‑controller presented a summary of the county’s audited financial statement and fund‑balance categories during budget deliberations on June 24, outlining where funds are restricted, committed, assigned or unassigned and how those categories constrain spending decisions.
Auditor Craig Boyer told the board the June 30, 2024 consolidated financial report shows about $600,000,000 in restricted general‑fund balances and more than $1,000,000,000 in committed balances earmarked for specific purposes such as pension liability reduction and settlement claims. Boyer explained the five fund‑balance categories and said restricted amounts are governed by external stipulations while unassigned balances are available for board discretion.
On the Emerald Fund, the county administrator said the Surplus Property Development Trust Fund (commonly referred to as the Emerald Fund) currently has a market balance of $384,000,000. The administrator explained that the board has historically dedicated the fund’s interest earnings to pay the juvenile‑hall debt and that about $80,000,000 in debt remains, with bonds maturing in roughly 8–10 years.
The presentation was offered to help supervisors evaluate requests to use one‑time resources or reserves for near‑term service needs; several supervisors asked staff to show options and to consider the implications of tapping committed or reserve funds versus Measure W proceeds.
Boyer and county staff answered board questions about where the Federal Impact Fund and other commitments appear in the fund‑balance statements and offered to provide line‑by‑line detail upon request.
The auditor’s presentation framed staff and supervisors’ subsequent discussion about how to fund bridge requests and Measure W priorities without jeopardizing long‑term fiscal stability.
