Council Considers Consensus Fund Distribution

(Photo by Ron Richter)
(Photo by Ron Richter)

The Sheridan City Council held a special meeting Monday. Sheridan Media's Ron Richter has the story.

The Council approved a resolution outlining how the county wide consensus funding will be split up between Sheridan County and the incorporated municipalities within Sheridan County. City Clerk/Interim Treasurer Scott Badley says that the funds are approved by the legislature and administered by the State Loan and Investment Board, known as SLIB. He said that the current formula was conceived about a decade ago.

Badley says that the consensus funds must be used for specific projects and are not part of the City's general fund budget.

Per the resolution that was approved, the City will receive $2.28 million, Sheridan County will receive $1.27 million, Ranchester and Dayton each will get over $157,000, and the Town of Clearmont will receive just over $59,000. The other municipalities, along with the Sheridan County Commission must approve a similar resolution before the list of projects can be sent to the state.

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