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Calhoun County board hears financial report showing about $60 million in cash
Summary
Mr. Godwin presented the district's November financial report, noting roughly $60 million in cash and cash equivalents, a year-to-date net income of about $137,000 and reserves equal to about five months of operations.
Mr. Godwin, who presented the financial report to the board, told members the district’s balance sheet showed "cash and cash equivalents, right at $60,000,000" and a net income of "a $137,000" for the current fiscal year. He also cited a "net unrealized gain of $683,000" and said the Fidelity Treasury account reflected "an income of $313,000" for the year.
Godwin said revenues in the general fund were at roughly 9.5% of budget for the second month of the fiscal year while expenditures ran about 15.5%, leaving general fund balance near $42 million—about five months of reserve. He reported accounts-payable checks of $2,500,000 and payroll of about $7,000,000 for November. The board accepted the report without further action.
