The County increased General Fund Reserves by $17.2 million. The increase was primarily associated with the transfer of reserves of unallocated Fund Balance Available (FBA)
“While the county has been proactive in discussing this issue with legislators and school
officials, the Department of Finance and Attorney General's office have made no contact
with the county regarding this matter. The county is disappointed the state has now
resorted to filing a lawsuit. We are evaluating the merits of their suit and cannot comment
on its specifics at this time until we have had time to completely review their claims.”
Orange County’s payroll is $65 million every two weeks. The loss of the schools’ money, higher pension costs and restrictions against skimming County accounts present real risks to Orange County’s cash position. Litigation will eventually require document discovery and depositions? It will be fascinating to see how Orange County tries to spin their precarious financial position.
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