The Marshall County Council is looking to add some money into the county’s Rainy Day Fund, as 2016 comes to an end. “We’ve spent some money out of that, and I think that the General Fund will be healthy enough to replenish the fund to the maximum amount,” Council President Judy Stone said Monday.
She noted that the amount of money in the county’s General Fund is set to increase at the end of the year, due to changes in state law regarding county adjusted gross income tax funds. “According to the new state law, the CAGIT certified shares that we had to do a number of years ago is now going away,” she explained. “So that money will be moved into the General Fund.”
The council voted to proceed with transferring the maximum amount of money allowed by law from the General Fund into the Rainy Day Fund. County Auditor Julie Fox will determine that figure as of December 31, and a formal resolution is expected to be presented to the council in January.
