Sanilac road board: cash flow woes continue
The county road commission’s accountant has become quite a juggler.
At last week’s board meeting, Accountant Joyce Hagan reported the operating fund balance was only $932.67 on Sept. 15, with another payroll due before the end of the month. In addition the accountant had already borrowed $65,000 from the debt fund to pay the bills.
Hagan reported she expects to receive $125,804.65 from the state for special projects, but only a portion of that can be used to reimburse the road commission for their labor.
Hagan can always borrow from the debt fund again at the end of month, because the balance is $836,739. However, $129,692 of that is designated to help pay for the primary road projects because there is only $4,997.99 left in the road millage fund, most of which will probably be used to pay off tax tribunal adjustments. The board took on more primary road projects than the millage would pay for this spring, and also committed to providing matching funds for a couple township paving projects.
Approximately $250,000 is set aside for the liability insurance premium, $24,851.40 is the employee’s health insurance reimbursement fund, and the $327,405 in the operating reserve is set aside if the snow plowing expenses decimate the regular operating fund.
In addition, there was a $194,626.60 balance in the equipment fund, and the agency owes $484,300 for long term debt on big equipment. That doesn’t count the $252,000 the state expects the agency to set aside for accumulated employee vacation benefits.