Wicomico Will Revisit Fund Balance Policy

SALISBURY – Officials in Wicomico County this week took a second look at a more comprehensive fund balance policy.

On Tuesday, Director of Administration Wayne Strausburg came before the Wicomico County Council to revisit a discussion on a new fund balance policy.

Last year, county staff came before the council to present a new policy that would better maintain the county’s fund balance. At the time, the new policy recommended maintaining an unassigned fund balance between 12% and 17% of the annual operating budget and a “rainy day” fund at 5% of the annual operating budget.

“We had proposed last year a 17% targeted fund balance for uncommitted funds and continuing 5% for the rainy day fund …,” Strausburg told the council this week. “Frankly, when we sent that over last year, the 17% I was very comfortable with. I will tell you today that I probably think that’s a little light.”

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