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Commissioners authorize up to $8 million temporary cash advance to General Fund
Summary
Mercer County approved Resolution #2026-030 to permit temporary interfund advances up to $8,000,000 to the General Fund to cover expenditures until 2026 real estate tax receipts are collected; advances are to be repaid with interest by June 2026.
The Mercer County Board on Jan. 22 authorized temporary interfund cash advances up to $8,000,000 to the General Fund to ensure liquidity for budgeted expenditures until real estate tax collections are received. The resolution (2026-030) says advances will be repaid, with interest at the current earnings rate, by the end of June 2026 or sooner.
The approved funding sources and amounts listed in the resolution are: Fund 260 (Fed Bridge Fund) $1,000,000; Fund 105 (Operating Reserve Fund) $5,000,000; Fund 322 (Capital Reserve Fund) $1,000,000; and Fund 370 (General Obligation Capital Bond) $1,000,000. The motion was moved by Mr. McGonigle and seconded by Dr. Coleman; the board voted yes (McGonigle, Finley, Coleman).
