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City sets fund amounts in August

 


At last week’s Grand Coulee City Council meeting, the beginning fund balances for 2018 were set, numbers that would typically have been approved in January.

“I have spoken with the state auditor’s office and they agreed to allow us to draw a line in the sand, take the money we know that we have, and reappropriate them,” explained City Clerk Lorna Pearce, who took over the clerk position in February of this year.

“There hasn’t been good financial tracking for the past seven years,” Pearce continued. “It’s been a disaster. The state auditor’s office has been very gracious. They would like a financial report from us in the near future.”

The beginning fund balances, the amount of money the city is saying it started with at the beginning of the year, total $2.4 million and break down as follows, rounded to the nearest hundred:

Current Expense - $301,600

Ambulance Equipment Reserve - $16,600

Fire Equipment Reserve - $70,300

Street Fund - $45,000

Street Equipment Reserve - $8,500

Excise Tax - $72,000

Stadium Reserve Fund - $76,300

Cumulative Reserve Fund - $570,000

Water Fund - $600,500

Water Improvement Fund - $200,000

Water Deposits - $2,000

Sewer Fund - $150,200

Sewer Equipment Reserve - $100,000

WWT Reserve Fund - $60,000

Solid Waste Fund - $135,200

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