At Tuesday’s meeting, Grand County’s Board of County Commissioners (BOCC) unanimously approved both the 2019 Supplemental and 2020 Budgets. The motions to approve followed good news delivered by Ranette Bakke of the Treasurer’s office earlier in the day. Bakke reported interest earned on the County’s $7 million in securities came in $149K higher than last year, totalling $551,139.76 year-to-date.
2019 Supplemental Budget items
Several departments and cost centers required additional funds totalling $5,722,000 to cover unanticipated expenses by the end of the year.
General Fund Resolution 2019-12-6
Supplemental budget appropriations in the amount of $1,525,000 were needed to cover five items:
- Transfer to Self-Insurance to maintain $1.5 million minimum cash balance: $400K
- Transfer to Major Capital not budgeted in 2019: $300K
- Pictometry pull forward not budgeted in 2019: $150K
- Autopsy – Coroner: $10K
- Hiring lag – Personnel & Admin: $665K
Funding from the unappropriated fund balance will be used to cover the shortage.
Grand County EMS Resolution 2019-12-7
The amount of Bad Debt was higher than budgeted, resulting in a $175K budget shortfall. A combination of billing revenue and unappropriated fund balance will be used to fund the shortage.
Road & Bridge Resolution 2019-12-8
To facilitate the purchase of asphalt and graders, Road & Bridge required a $2 million transfer to the Major Capital Fund. The funds will come from an unappropriated fund balance.
2019 Retirement Fund Resolution 2019-12-9
The Retirement Fund had expenditures of $75,000, higher than was budgeted in 2019. Specific ownership tax and retirement forfeitures in the amount of $75K were added to the 2019 Retirement Fund to cover the shortage.
Self-insurance Claims & Fees Resolution 2019-12-10
Claims submitted to the County’s self-funded health plan were higher than projected, resulting in a funding shortfall of $750K. The County will use a General Fund transfer of $400K and $350K from the Self-insurance internal charges and fund balance to cover the gap.
Road & Bridge Resolution 2019-12-11
Expenses for asphalt replacement on CR 53, a CR 3 culvert which had been deferred to 2019, purchase of 3 graders and guard rail installation resulted in a $1.6 million shortage. The source of the funding to cover the shortfall will come from R&B transfer in to Capital – lease payments ($346K), General Fund transfer in to Capital – lease payments ($57K), and Airport transfer to Capital Improvement projects ($1,197,000).
2020 Final Budgets approved
The commissioners reviewed and approved three final budgets, as presented to them by Finance Director Curtis Lange and County Manager Kate McIntire.
Grand County Resolution 2019-12-1
For 2020, the final Grand County budget expenditures, including transfers out ($9,495,307), total $59,795,201. Revenues, which include property tax ($11,914,012) and transfers in ($9,495,307), total $60,223,147. The projected surplus for 2020 is $427,946.
Grand County Housing Authority Resolution 2019HA-12-2
The Housing Authority starts 2020 with a cash balance of $846,786, including proprietary funds specific to Cliffview Assisted Living Center, Grand Living Senior Homes and Silver Spruce Apartments. Expenditures are budgeted at $2,270,294 and revenues are estimated to be $2,255,836. After adding back depreciation in the amount of $53,004, the ending cash balance is projected to be $885,332.
Pole Creek Meadows Public Improvement District Resolution 2019PID-12-3
For 2020, the PID board set the mill levy on property tax at 13.00. The mill levy is anticipated to generate net revenue in the amount of $64,643. Adding in $5K for specific ownership tax and $500 in interest earnings, a total of $70,143 in revenues are expected in 2020. Expenditures for Debt Service ($68,052) and Treasurer’s fees ($3,250) total $71,302, leaving a deficit of $1,159 and an end of year fund balance of $5,703.
Upon completion of the annual budget process, County Manager Kate McIntire said, “This is a culmination of a lot of hard work in putting together this budget for 2020. I want to thank everyone for participating in the 2020 budget process.”
To learn more, visit co.grand.co.us.