The Marshall County Rainy Day Fund will grow thanks to a transfer approved by the County Council.
During Monday’s meeting, Council President Judy Stone said, “We talked in December about transferring monies to the Rainy Day Fund out of the General Fund. I’d like to see us complete that task today.”
County Auditor Julie Fox gave members the end-of-year figures and said 10% of the total county budgets can be transferred from the General Fund to the Rainy Day Fund according to state statue. The total 2018 county budget is $24,966,389.
The Auditor said, “Marshall County is really in a good fiscally responsible state and our numbers really reflect that.” While the council could transfer up to 10 percent or $2.4 million, her suggestion was to transfer between $1 million and $1.5 million.
Judy Stone said the yearend cash balance on December 31, 2017 in the General Fund was $8,580,537.82.
Fox said she did a comparison with the last three years and the county’s revenues continue to meet the expenses.
Council member Bill Githens motioned to transfer $1.5 million and Penny Lukenbill 2nd the motion. The council voted unanimously 6-0 with Don Morrison being absent to approve the transfer.
Councilman Heath Thronton said, “I’d like to commend all the employees, superintendents and everybody in the county for their fiscal responsibility. That allows us the opportunity to do this.”
The Auditor said, “Consistently your departments have given back money at the end of the year.”
