Harvey County reserve funds continue to grow; will pay cash for it’s portion of Law Enforcement Center project

The Board of Harvey County Commissioners learned Monday that the county’s ending fund balance increased by about $500,000 in 2018.

Finance Director Dan Bronson gave a comprehensive look at each budget line item, and the county ended the year with a fund balance of $4.9 million. He said the county would be able to pay for its share of the Law Enforcement Center remodeling project with cash instead of bonds.

“That’s a big deal,” Bronson said.

Currently, the county estimates that it will spend approximately $825,000 on a joint Law Enforcement Center remodel project with the city.

For context, should the county have bonded that amount out over 20 years at a 4 percent rate on a fixed rate loan, it would have paid $374,840 in interest. It skips the interest paying cash.

The costs of the remodel have also been cheaper than estimated.

(Read more: Newton Now)