A financial plan has been outlined, but the Marshall County Council will need some time to consider the details.
During Monday morning’s Marshall County Council meeting, representatives from financial firm Umbaugh and Associates presented their analysis of the county’s financial position and spotted certain funds in need of attention.
Umbaugh CPA Paige Sansone presented the analysis. She says there are a few things to be noticed with Marshall County’s General Fund, including a projected increase in Receipts.
“On average I have your Disbursements at about $9.3[-million], but I want you to note that in 2017, that big increase in Disbursements is the $525-thousand of capital costs that we worked into this and you’re still able to fund everything in your budget and have a good cash reserve at the end of the year,” says Sansone.
Many of the funds are maintaining a healthy balance between Receipts and Disbursements, according to Umbaugh and Associates.
There were, however, a few budget accounts cited as problem areas. Chief among them is the Statewide 911 Fund. Marshall County has plans to enter into discussions with local communities to better manage a lack of available funding. As things stand now, projected cash balances through 2018 are not considered sufficient.
Despite that, Sansone has identified nearly $6-million that can be used for one-time purchases through the General Fund, Health, Local Road and Street, and Rainy Day Funds. She says the General Fund reserve gives the county options.
“You do have room to either make a one-time purchase, or a one-time capital project, or shift to the Rainy Day Fund,” says Sansone. “You’ve got about $1.5-million [in the General Fund] that you can do something with.”
The County Council will consider the available options to help with future project and budget planning.
The County Commissioners have already made recommendations about how the funds should be used. Future action expected.
