News Talk 94.1/AM 1600 Where The Upper Cumberland Talks
The State Comptroller’s Office confirms that Van Buren County’s financial condition has significantly improved.
Several Van Buren leaders addressed public concern on the county’s financial state this week. Director of Communications John Dunn said the county has grown from a negative fund balance in 2019 to some $1.6 million.
“In Van Buren County there had been an issue of overspending,” Dunn said. “Simply bringing in less money than what was going out the door and that problem has resolved itself. Van Buren County is saving more money. They are saving cash reserves. They are operating on a balanced budget.”
Dunn said American Rescue Plan money would not be the reason for the increase. Dunn said those funds are to be held in the capital projects fund.
“When we go back to audit for 2022, we’ll have a new look at what the fund balance is,” Dunn said. “But, it sounds like from the meeting this week that they have either maintained or kept that same amount of money within their fund balance. As for the American Rescue Plan dollars, those are held in the capital projects fund. So, none of the dollars in the general fund fund balance are American Rescue Plan dollars.”
Dunn said the Comptroller’s Office still regulates every expenditure over $2,500. Dunn said the county is on track to be removed from the supervision. He said the office continually reviews the situation.
“They’re doing all the things that are fiscally responsible,” Dunn said. “That is great news to our office. The county is much healthier today than it was in the past.”
However, Dunn said Van Buren County does have $8 million in debt according to the 2021 state audit.
