To: Martin L. Cousineau, Finance Committee Chairperson
From: Derek Bradshaw, Director
title
RE: Planning Commission - Adjustment of Compensated Absence amount
recommendation
BOARD ACTION REQUESTED:
Approval of a request to decrease Genesee County Planning Commission’s assigned fund balance for compensated absences by $7,089.71.
BACKGROUND:
Assign the fund balance amounts for specific uses in accordance with GASB Statement No. 54.
DISCUSSION:
At year end, a review of vacation and comp time costs is completed to record the amount used. Newer staff have less compensated absences with less costs associated. This has led to a decrease in the compensated absences liability.
IMPACT ON HUMAN RESOURCES:
N/A
IMPACT ON BUDGET:
This is a balance sheet item so budgets will not be affected.
IMPACT ON FACILITIES:
N/A
IMPACT ON TECHNOLOGY:
N/A
CONFORMITY TO COUNTY PRIORITIES:
This conforms to the County priority of long-term financial stability. Reviewing yearly expenses and having funds set aside will ensure the Planning Department has money available if unanticipated costs were to occur. Accurately reflecting the compensated absences amount allows us to better plan long-term.
resolution
TO THE HONORABLE CHAIRPERSON AND MEMBERS OF THE GENESEE COUNTY BOARD OF COMMISSIONERS, GENESEE COUNTY, MICHIGAN
LADIES AND GENTLEMEN:
BE IT RESOLVED, by this Board of County Commissioners of Genesee County, Michigan, that the request by the Director of Planning to reduce the assigned fund balance for compensated absences by $7,089.71, is approved (a copy of the memorandum request being on file with the official records of the November 29, 2023, meeting of the Finance Committee of this Board).