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Quarterly financial report: Sedgwick County reports $11.8M investment income YTD and $161M Q3 fund balance
Summary
Accounting Director Hope Hernandez told commissioners the county has seen a sharp increase in investment income (Jan–Sep 2024: $11.8M vs $460k in 2021), a projected year‑end budgetary drawdown but a strong GAAP fund balance of $161M at the end of Q3; commissioners received and filed the report.
Sedgwick County’s accounting director presented the board with the Q3 unaudited financial report on Nov. 13, showing higher investment income and a strong fund balance despite planned draws. Hope Hernandez said year‑to‑date investment income through September 2024 totaled $11.8 million, up from $460,000 for the same period in 2021; the county’s Q3 GAAP fund balance was reported at $161 million.
Hernandez explained the county anticipates a budgetary drawdown of about $14 million on a budgetary basis but expects to end the year with roughly $203 million in fund balance on a budgetary basis. She cited assessed‑value growth (about 9% for 2024) and strategic investment decisions as drivers of higher revenues and said ARPA (American Rescue Plan Act) drawdowns and planned transfers explain decreases in some non‑property-tax funds. Hernandez recommended the commission receive and file the report; commissioners approved that action by roll call.
The presentation also highlighted capital projects and program-specific items, including the adult detention facility camera expansion, household hazardous waste facility expansion, and a bridge replacement project that completed in September 2024.
