Allen County making plans for excess cash

(Darrin Wright/1190 WOWO 107.5 FM)

FORT WAYNE, Ind. (WOWO): It doesn’t even sound like a real problem: “too much money.”

But that’s what Allen County is looking at, as the News Sentinel reports that Interim County Auditor Nick Jordan found a “rollover” surplus of about $15-million from last year’s budget. The money is available for use but has no spending plan attached to it.

Jordan’s recommending the county save at least $6-million in a reserve to help the County not rely on its “rainy day” fund, as well as throwing $3-million into a fund to encourage some County employees to consider early retirement. That still leaves about $6-million for the County to use throughout the year.

The extra cash comes from higher-than-expected property tax collections and about $7.7-million in underspending by various county departments.

 

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