With cash crunch coming, Minnehaha County adopts budget reserve policy
Federal spending meant to prop up local governments is about gone
The Minnehaha County Commission voted to establish a cash reserve limit Tuesday in order bring stability to the budget of the state’s largest county.
The county will use a floor of 25 percent of its budget that will be unassigned. That’s a three-month reserve fund, Budget and Finance Officer Susan Beaman told the commission, and one recommended by a committee that took an in-depth look into the county’s finances.
With Tuesday’s adoption, the county could still dip below that 25 percent mark, but it would take a vote of the commission to do that. Previously, it was an unofficial target, Beaman said.
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