Last week members of the Marshall County Council approved a resolution to transfer funds between the Highway Motor Vehicle Fund and the Motor Vehicle Highway Restricted Fund.
In 2018 the State Board of Accounts issued a directive that required counties that receive distributions from the State Motor Vehicle Highway Account to create a new sub-fund within the MVH fund to properly manage and account for the usage restrictions that were in 2017-18 House Enrolled Acts. The directive requires the county to place 50% of the funds they receive into the MVH Restricted Fund. These monies must be used for construction, reconstructions, and preservation purposes.
While the county equally split the initial distribution of $4,419,744 into the two MVH Funds, after reviewing the road work completed in 2021, the County Highway disbursed $3,777,375 on construction, reconstruction, and preservation projects.
At the end of the year, the regular Motor Vehicle Fund had a balance of $2,999,965. Superintendent Jason Peters asked the County Council to transfer $600,000 from the MVH Fund to the MVH Restricted Fund to offset the fund shortage.
The resolution also directs the allocation of MVH distribution to remain at 50% in the MVH Restricted fund in 2022.
