The Pulaski County Council took action to create a temporary loan to cover expenses in the General Fund.
Auditor Shelia Garling explained to the county council that the financial report shows that the General Fund is $175,156.66 short. Garling asked that a loan be authorized from the County Adjusted Gross Income Tax (CAGIT) County Certified Shares line item to support the General Fund. The CAGIT fund has a balance of $1.8 million.
If the General Fund remains in the red on April 30, Garling asked that a resolution be signed so she can take out a temporary loan from the CAGIT fund and put that money in the General Fund. The council approved a resolution that no more than $200,000 will come from that account to put into the General Fund.
Garling said the money will be paid back into the account after the June tax settlement.
