FARMINGTON — Franklin County’s benefit liability reserve account received a boost Tuesday when commissioners voted to transfer $60,000 from the county’s undesignated fund into its coffers.
The reserve account is used to pay employees who have accrued vacation and/or sick time when they leave the county’s employment.
Treasurer Mary Frank told commissioners that the benefits liability reserve account is overdrawn by $5,800, and another former employee is owed about $5,100.
The county has been trying to build up the reserve over the years in preparation for the retirements of many county senior employees who are nearing retirement age.
This year, a lot of heavy hitters retired, Frank said.
One employee had nearly 40 years of service; another had 25 years.
She has heard there is a possibility of still more employees retiring, all of whom have more than 20 years with the county, she said.
Supporting Sponsor for Franklin Journal, Livermore Falls Advertiser, Rangeley Highlander and Rumford Falls Times.
Keeping communities informed by supporting local news. franklinsavings.bank
Comments are no longer available on this story