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Committee authorizes up to $15M Due To/Due From transfer to cover Broadband invoices temporarily
Summary
Following an executive session, the Finance Committee approved a resolution to establish a Due To (General Fund) / Due From (Fund 7 - Broadband) arrangement of up to $15,000,000 to cover invoices until subscription revenues can sustain broadband fund expenses.
After an executive session on personnel matters, the Finance Committee approved a resolution to establish a Due To (General Fund) / Due From (Fund 7 - Broadband) arrangement in an amount not to exceed $15,000,000. The measure is intended to cover invoices that exceed the bank balance until subscription revenues can sustain ongoing broadband fund expenses.
Supervisor May moved the resolution; the vote was recorded as Ayes: 7 with one supervisor absent. The arrangement is a temporary accounting/funding mechanism to bridge cash-flow requirements for county broadband expenses and does not constitute approval of specific capital projects beyond covering invoices as described.
The committee’s minutes note the executive session occurred to discuss an employee’s employment and performance history prior to returning to open session; the broadband funding arrangement was then approved and referred for resolution.
