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AUDITOR-CONTROLLER - Auditor-Controller Krista Peterson
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Requested Action(s)
recommendation
a) Presentation of possible uses of fund balance available
b) Discussion and Board direction on how to allocate remaining fund balance available
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Financial Impact:
The General Fund’s fund balance available as of June 30, 2026, after closing entries is $5,697,061. The funding requirement from the fund balance available is $4.64 million, leaving a balance of $1,057,061 to be allocated for spending or reserved.
Background Information:
The fund balance available is calculated after all closing entries are complete. Once the budget is complete, a calculation is done to determine the difference between revenues and expenditures in General Fund and Public Safety. Any shortfalls are covered by fund balance carryover.
Once the funding requirements are met, any remaining fund balance is reserved. Per Resolution 2021-126, the Unfunded Accrued Liability Management Policy, 5 to 10 percent of the surplus fund balance for General Fund is allocated and deposited into the Pension Rate Stabilization Fund (115 Trust). The final surplus is then allocated with direction of the Board to a reserve.