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Commissioners hear fund balance report

By: Erin Smith

Bladen County Seal with In God We Trust 1The Bladen County Commissioners heard an update from Finance Director Lisa Coleman on Monday regarding the fund balance for the year ending June 30, 2016. Coleman told the board that the fund balance for the year ending FY 2015-16 could see an estimated increase of $3.5 million.

“This is just an estimate,” said Coleman.

The reason for the estimated fund balance increase, according to Coleman, was due to unpaid jail expenses of $1.1 million; a reimbursement for the jail project of $1.5 million; and rollover items of $262,026.

Coleman said that as of the budget of 2015-16, the county had increased taxes to help pay for the jail expenses which generated $1,108,457. She said that money was not spent as a payment was not due as of June 30, 2016.  She said the county also paid an upfront cost last year for the jail project which has since been reimbursed.

Coleman explained that rollover items are funds which are designated for specific purposes but have gone unused as of June 30, 2016.

She said that as of the FY 2016-17 budget, $2,221,264 of the fund balance has already been appropriated. This includes the additional EMS positions that were added on July 18.

She estimated that if there are no changes, the total fund balance for the fiscal year ending 2015-16 will be about $19 million.

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