Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Finance director: county assets exceed liabilities by roughly $51M; general fund covers about seven months of operations
Summary
Finance Director Gabe presented an annual report and audit update showing the county’s net position improved to approximately $51M (about $13M unrestricted); the general fund balance was $7.03M as of June 30, providing roughly seven months of operating reserves. Staff outlined audit timing, investments and budget amendments.
Finance Director Gabe delivered a detailed fiscal-year update on Sept. 10, summarizing audit status, fund balances, investments and the 2025–26 budget outlook. He said county assets exceeded liabilities by approximately $51 million as of June 30, with roughly $13 million unrestricted and a general-fund balance of about $7.03 million — a reserve that, he said, “represents 60.6% of the expenses and transfers out at year end,” or about seven months of operations.
Gabe reviewed investment performance (net return near 5.79% for the fiscal year), property-tax collections (about 97.2% of imposed tax collected), and outstanding reimbursements on a transportation safety planning grant (roughly $150,000 outstanding). He described audit logistics (auditors on site Sept. 29–Oct. 3; possible filing extension into January by the new audit firm) and said staff will continue improving internal controls, write‑off policies and department cross‑training. Commissioners thanked staff for clearer reporting and discussed possible reserve targets, budget transparency and multi‑year planning.
The director noted the 2025–26 adopted budget totaled about $85.7 million (including pass-through state grant funding for a COCC building). He proposed continuing quarterly reporting and improvements in the budget book to integrate county strategic goals and improve public transparency.
