The stated goal is for the fund balance to be 18% to 25% of the annual budget at the end of each fiscal year. Last June, it was $33.1 million dollars, or 24%. Having a reserve is healthy. I applaud it.
However, Commissioner George Liner said that, if this year’s ending fund balance should be above 25%, he didn’t want it to go into the Capital Reserve Fund (funds set aside for capital improvements over the coming 5 years). Instead, he wanted to consider keeping funds in the general fund “because we can be more flexible with that.”
There was no talk of cutting taxes if the fund balance went above 25%.
There was no talk of cutting any expenses.