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Published: 27 July 2015 27 July 2015

By Mary Alice Murphy

The Grant County Commissioners held a special meeting Monday, July 27, 2015 to address and approve two items €”the fourth quarter financial report and the final budget.

County Financial Officer Linda Vasquez said the ending cash balance of the General Fund, as of June 30, was $2,721,513. The Corrections Fund had a zero balance and the Road Fund a balance of $435,589. The resolution on the fourth quarter financial report was approved.

James Baldwin, resident said he had difficulty hearing, and asked about the final budget numbers.

Commission Chairman Brett Kasten explained the item was next on the agenda.

Vasquez said the final budget showed expected expenditures of $9,753,787, with anticipated revenues of $12,461,988, which would leave a projected cash balance at the end of fiscal year 2016 of $2,609,097, minus the required three-twelfths reserve of $2,438,447, showing a projected surplus of $179,650.

The Road Fund was budgeted to have an ending cash balance at the end of FY 16 of $161,518, minus the one-twelfth reserve of $139,340, leaving a projected surplus of $22,178.

The Corrections Fund budget showed anticipated expenditures of $2607,298, expected revenues of $1,044,828, and expected transfers of $1,500,140. The fund has no reserve requirement and is anticipated to have an ending cash balance of $816.

She said the expenditures included a 10 percent increase in group health insurance costs and a 1.5 percent increase to employees. Commissioners Kasten and Gabriel Ramos approved the FY 2016 final budget resolution. Commissioner Ron Hall was absent.

Kasten, in answer to Baldwin's questions, said the decrease to the General Fund, net revenues minus expenses, was $271,686.

The meeting was adjourned.