Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the County Budget topic
No spam. Unsubscribe anytime.
Torrance County authorizes temporary General Fund loan to cover negative fiduciary balances, adopts FY2026 budget
Summary
The commission approved a temporary $440,972.72 transfer from the General Fund to cover negative fiduciary balances, noting it will create audit findings; commissioners also adopted the county's FY2026 final budget and a final FY25 budget adjustment.
Deputy County Manager Misty Witt told commissioners that, to submit required FY25 fourth-quarter reports and to proceed with operational appropriations, staff must temporarily move funds from the General Fund into several fiduciary accounts. Witt said "the total amount that we're doing alone from the General Fund to the Fiduciary Funds is $440,972.72." The commission approved the transfer and Resolution No. 2025-40 authorizing that reporting step.
County Manager J. Jordan Barela explained the practical trade-offs: staff could delay the budget submission while tracing each fiduciary discrepancy, but that would impede appropriations for time-sensitive operational needs such as ambulance and EMWT funding. Barela said staff will continue cleanup work with the Treasurer and the external CPA, set a deadline for the CPA's analysis in late October, and explore DFA assistance if necessary. The commission then adopted Resolution No. 2025-41, the FY2026 final budget, after staff described several lineup adjustments for payroll, grant awards and one-time capital timing differences.
