Alpena Road Commission Budget Holding In Good ShapeFri, 16 Apr 2021 16:48:48 EDT
By all appearances, the Alpena County Road Commission budget is tracking as expected.
Finance Director Julia Patterson presented budget totals as of the end of February, noting the general fund balance showed a total of over 6-point 3 million ($6,315,408.10). However, of that total, there is over 2-point 3 million ($2,297,807.13) in restricted funds reserved for expenses related to the Bagley Street Bridge project. There are also other non-spendable funds reserved for other items or equipment.
She also noted Michigan transportation funds were not as high as expected, but conservative budgeting may offset some of that anticipated income.
Patterson also compiled a preliminary close-out of the 2020 budget, and the board approved of submitting that report to the state as part of a reporting requirement. The document showed all revenue totaling just over 9 million dollars ($9,046,810.06), expenditures of 8-point 6 million ($8,683,655.75, with a fund balance of 4-point 4 million ($4,452,424.72).
Auditors were recently on site for a day and additional documents have been sent to accountants who will prepare an audit report. Patterson will also be developing a year to year spending comparison for the board.
Photo: Alpena Road Commission Finance Director Julia Patterson
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