TO: Members of the Board of County Commissioners
THROUGH: John A. Titkanich, Jr., County Administrator
FROM: Kristin Daniels, Director, Office of Management & Budget
DATE: October 10, 2025
SUBJECT: Interfund Borrowing - Fiscal Year 2024/2025
__________________________________________________________________
ANALYSIS
At the end of the fiscal year, it occasionally becomes necessary to cover cash deficits in individual funds with interfund borrowing. Staff anticipates the need for interfund borrowing in the funds below:
|
Due from Fund |
Due to Fund |
Fiscal Year 2023/24 |
Fiscal Year 2024/25 (Est.) |
|
Metropolitan Planning Organization (MPO) Fund - 124 |
General Fund - 001 |
$235,000 |
$232,000 |
|
Coastal Engineering Fund - 128 |
General Fund - 001 |
$5,700,000 |
$5,055,000 |
Interfund borrowing is necessary in most funds due to the fact that the County is awaiting reimbursement from the State or Federal government for various grant eligible expenditures.
Staff is requesting approval from the Board of County Commissioners for interfund borrowing in the funds listed above as well as other funds as necessary.
BUDGETARY IMPACT
Interfund borrowing has no impact on budgetary accounts since this is a temporary loan provided from cash between balance sheet accounts.
PREVIOUS BOARD ACTIONS
Interfund borrowing is typically necessary in funds awaiting reimbursement and is processed at fiscal year end each year.
STAFF RECOMMENDATION
Recommended Action
Staff recommends approval for interfund borrowing as necessary to cover any cash deficits of individual funds that may occur.