Smith commissioners to consider doubling reserve funds - KYTX CBS 19 Tyler Longview News Weather Sports

Smith commissioners to consider doubling reserve funds

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TYLER (TYLER MORNING TELEGRAPH) - County commissioners will discuss and take possible action to double its reserve policy at the 9:30 a.m. meeting today inside the Courthouse Annex Building, 200 E. Ferguson St. in Tyler.

During the budget process, court members and the county auditor suggested the county's policy of maintaining 12 percent of its budget in a reserve fund for emergencies and to cover funding lags. Officials suggested the reserve policy should be amended to more than double the amount — 25 percent of its annual budget.

Approval would increase the fund to about $17 million from about $8 million.

During budget workshops, County Auditor Ann Wilson said the reserve should cover 90 days worth of expenditures. She said a 90-day reserve would ensure the county had enough money to cover its expenditures between October — when the new fiscal budget begins — and January, when property tax payments typically begin coming in consistently.

Commissioners have expressed agreement that the reserve should be increased to cover funding gaps and disasters.

Members from the conservative political action committee Grassroots America — We the People expressed concerns about how the increased reserve would be used. Members have said they do not want to see the reserve be used to pay for projects, purchases or to cover planned budget shortfalls.

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