Five-year forecast delayed
A large crowd left disappointed as the meeting to announce the county’s five-year forecast was postponed Tuesday, March 26.
Monroe County Treasurer Taylor Abbott informed the crowd, which filled up the Monroe County Commissioners’ meeting room and extended outside into the hallway.
According to Abbott, information was found to be incorrect in the report that was to be offered by representatives from Public Finance Resources (PFR) during the meeting.
Abbott said he did not want to “muddy the waters” with incorrect information.
“The bottom line is we want to be as accurate as possible,” Abbott said.
Commissioner Tim Price agreed with delaying the report’s release, saying the waters were already “muddied enough.”
A few smaller items were found to be incorrect, such as a slight adjustment on the beginning balance due to purchase orders made in December and another adjustment to income from workers compensation, which was included monthly, but was only in fact a one-time reimbursement.
The largest contributor to the delay, however, was an adjustment in the loan payment for the Monroe County Jail.
PFR only accounted for a payment of around $329,000, while the actual payment is $613,097.
‘That was going to obviously change the outcome enough that we felt we needed to readjust the report,” Abbott said.
The lower payment from 2018 was a payment on the interest only, while the full amount will be paid in 2019.
PFR compiled the information for the report from the financials for the county, provided by Monroe County Auditor Pandora Neuhart’s office.
If any questions arose while PFR was compiling the report, the necessary department head was contacted to provide the required information.
Once completed, the report will be adjusted each three months to provide an as up-to-date outlook on the county’s financial status as possible.
Abbott said PFR Consultant Matt Sobul plans to adjust the necessary figures before offering the corrected five-year forecast, which he expected sometime in April.
As the end of March is only a few days away, PFR plans to add information for March to the report, in order to make it as exact as possible.