[Adopted 1-8-2013 by Ord. No. 12-21]
A. In general. In this article, the following terms have the meanings
indicated.
GENERAL FUND OF THE COUNTY
That fund known as the general fund as defined by Generally
Accepted Accounting Principles promulgated by the Government Accounting
Standards Board.
[Amended 2-14-2017 by Ord. No. 16-24]
A. The County shall maintain a Rainy Day Fund for contingencies in an
amount equal to 8% of budgeted general fund operating revenues.
A. The County Commissioners may, at any time, appropriate funds from
the Rainy Day Fund for contingencies to meet emergency needs of an
unanticipated, nonrecurring nature.
B. The County Commissioners, at the time of making such an appropriation,
shall publicly state the specific nature of the emergency and its
expected long-term effects on the finances of the County.
C. Should the County experience a shortfall of revenues above and beyond
shortfalls that occur during the normal course of governmental operations,
and that cannot be offset by reasonable reductions in expenditures,
an appropriation may be made from the Rainy Day Fund for contingencies
sufficient to offset the shortfall.
D. In the event funds are appropriated from the Rainy Day Fund for contingencies,
sufficient funds shall be appropriated to such Rainy Day Fund by the
end of the second succeeding fiscal year following such appropriation
to return the Rainy Day Fund to the minimal balance requirements of
this article.
A. Should the general fund of the County have a surplus of revenues
over expenditures in any given fiscal year, sufficient funds shall
be allocated from such surplus revenues to the Rainy Day Fund for
contingencies to bring the same into compliance with the minimal balance
requirements of this article.
B. To the extent that surplus funds are not added to the Rainy Day Fund,
they shall become part of the unassigned fund balance of the general
fund.
C. The County Commissioners shall adopt a policy for the use of the
unassigned fund balance, taking into account the nonrecurring nature
of such monies.
A. The County Finance Director shall, at the time of submission of the
comprehensive annual financial report, include information detailing
the status of the Rainy Day Fund for contingencies and the unassigned
fund balance.