Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Finance report: general fund projection improves to about $3.1 million
Summary
Finance staff reported a general-fund projection improvement after closing adjustments: roughly $60,000 more revenue found and an ending fund balance projected near $3.1 million (about 5.9% of operating revenues); discussion included where FEMA reimbursements were recorded.
The finance update described end-of-year cleanup, audit preparation and a modest improvement to the general-fund projection. "We have found about 60,000 in additional revenue that has been updated and added to the general fund for expenditures," the finance presenter said, then summarized a revised projection that increases the estimated ending fund balance to about $3.1 million (roughly 5.9% of operating revenues), up from prior projections.
Board members asked about the accounting for FEMA reimbursements and where specific resources were recorded; finance staff said FEMA money was recognized in a different fiscal year and would show up on the books in that year. The board discussed reserves and OASBO guidance on recommended ending fund balance percentages and flagged the need to walk through fund-by-fund details at an upcoming budget workshop.
