From the Lafayette Journal & Courier:
Tippecanoe County is poised to end the year with between $7.2 million and $7.5 million of uncommitted cash in the general fund, but Auditor Jennifer Weston and the county council aren’t planning a spending spree.
“Six million (dollars) is what (the county council) had set for their reserve — their minimum cash balance that they wanted to have in the general fund to help with cash flow,” Weston said. “It stays there to support the general fund until the property tax distribution.”
Weston estimated about $1 million will be used to cover year-end bills that arrive in January or February. The remaining $6 million is intended as operational cash to make up for any shortcomings through May. In June, the county receives its revenue from property taxes, Weston and County Council President Roland Winger said.
Weston will present the council with her latest estimates at Tuesday’s meeting, which starts at 8:30 a.m.
The county general fund will receive between $10 million and $11 million later this month from property tax revenue collected in November, Tippecanoe County Treasurer Bob Plantenga said. Weston’s estimate is for uncommitted cash revenues, or money that is not appropriated for a specific purpose.
Weston estimated monthly expenses in the first six months come in between $2 million and $3 million. The county also receives general fund revenue from other sources. This brings in between $500,000 and $1 million a month to the general fund. The county must make it to June using its December tax draw, the uncommitted general funds and other revenue sources.
“We’re staying the course with the plan we outlined at budget time,” Winger said.
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http://www.jconline.com/apps/pbcs.dll/article?AID=2013312070021&nclick_check=1
