SNOW HILL – Worcester County will boost its reserves following an increase in fund balance.
The Worcester County Commissioners last week voted unanimously to move forward with adjusting the county’s reserve fund from 12% of budgeted general fund expenditures to 15%. The jump was made possible with a $9.6 million increase in fund balance in FY 2023.
Budget Officer Kim Reynolds told the commissioners last Tuesday that the annual audit was underway and in order to finalize the financial statements, the use and assignment of fund balance had to be determined. The county ended FY 2023 with a fund balance of $47.5 million, an increase of $9.6 million.
She said that while assigned fund balance amounts were meant to show the commissioners’ intent, the funds weren’t technically restricted.
“Although we assign funds to a particular project, these are not restricted unless done so by resolution,” she said.
Don’t forget to save some for the BIG GUY (Ricky Pollitt).
He will be FIRED soon !!!! He has been all over the place Wico Cty / Crisfield !!!!!
Save for the next RIVER BOAT !!!! LOL