duchess in money | highland current

duchess in money |  highland current

The review found that the fund balance doubled

The Dutch County Superintendent said Tuesday (September 20) that a review of the county’s audited financial statements showed that the unearmarked fund balance doubled in 2021, from $60 million to $120 million.

Robin Lois noted that county policy is that only enough money should be kept in reserve to cover one to two months of general operating costs, and anything in excess should be used to pay off debts or return them to taxpayers. She said $120 million is equivalent to about three months of spending.

Lewis noted that the increase in savings was primarily due to a nearly $50 million jump in sales tax revenue. She warned that excess money could encourage “apathy toward prudent spending”.

Source link

Leave a Comment