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The end of Barrow County’s first quarter in the 2010 fiscal year might still be two months away, but it’s quickly approaching – especially for those who keep an eye on the county’s finances.
Operations Development Manager Bob Hohe says he’s more concerned about what revenues the county has generated – and less concerned about the budget and what the county’s spent.
Come January, he’ll have to take a close look at how the county fared and what it can expect for the rest of the fiscal year.
According to the county’s cash flow analysis, the county ended October with more cash in its coffers than at the end of September.
At the end of September, the county had $2,985,595. October ended at $3,350,274.
However, Internal Auditor Marilyn Golightly estimated this month will end closer to September’s level. And she estimated that at the end of 2009, the county will have $11.2 million on hand – with taxes due Dec. 20.Hohe said the county’s cash flow is in good enough standing that it won’t have to rely on its certificate of deposit at least through December.
The CD has $2,157,933 and the county has withdrawn from it in recent months when it hasn’t had enough cash on hand.
Hohe said he’s confident the county has stuck to the budget as far as expenses go, but he was less optimistic about even that when he considers legal fees that the county will incur, between hiring the outside attorney to conduct the investigation into race and gender allegations against the county and any possible settlements that might come out of pending litigation.
The first quarter of the 2010 fiscal year began in October and ends in January.
"We’ll have to crunch some numbers in January," he said. "We’ve got to be realistic. We’ll have to review our revenues in January and look at the additional costs we’re going to have, especially in litigation costs."
