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City of Brownton slowly adding to general fund cash reserves

The city of Brownton’s cash position is a “bit on the low side,” but is slowly building back up after capital expenditures made in 2011.
Paul Harvego of Conway, Dueth & Schmiesing (CDS) presented the 2014 audit report at the City Council’s Aug. 4 meeting.
Harvego said the city ended 2014 with $197,706 in its general fund cash balance. The state auditor recommends that cities maintain a balance equivalent to three to six months worth of expenditures. Harvego said the city’s cash balance is the equivalent of about 3.6 months worth of expenditures.
Harvego said the city had a cash reserve of about $403,243 in 2011, but spent it down considerably on capital projects. The city has been gradually rebuilding its reserves since then. In 2012, the cash balance was $176,276; it edged up to $181,297 in 2013 and was at $197,706 in 2014.
Most of the 2011 expenditures were in the form of a capital loan for improvements to the Brownton Area Civic Center.
Harvego said that loan is being repaid as the city collects pledges made toward the project.
For more see the Aug. 12 print edition of The Chronicle.