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County accountant warns of Kaliseum deficit, recommends MERS funding review and GASB considerations
Summary
Accountant Corinna Hervey (via Zoom) reported on Kaliseum operating deficits, the status of County Wide Improvement fund projects, and recommended replacing MERS funds; she also noted GASB percentages and projected increases for 2025.
Corinna Hervey, the county accountant who participated by Zoom, told the Finance Committee that the Kaliseum is operating with a deficit between expenses and revenues and that the County Wide Improvement (CWI) fund projects and balances merit review. She recommended replacement of MERS funds and discussed GASB fund percentage considerations and projected increases for 2025.
Hervey recommended reviewing the balance of CWI funds alongside other funding options and flagged that Kaliseum renovation costs and operating deficits will need targeted funding decisions. The briefing provided fiscal context for later motions to transfer funds into the Kaliseum account.
