HomeMy WebLinkAbout77-09 - Res. Establishing Current Expense Ending Fund BalanceRESOLUTION No. -û:p1
IN THE MATTER OF ESTABLISHING A
CURRENT EXPENSE ENDING FUND BALANCE
FOR MASON COLTNTY WASHINGTON
WHEREAS, the Mason County Finance Committee recommends approval of a Current Expense
Ending Fund Balance Policy, and
WHEREAS, the Mason County Board of County Commissioners, as the county legislative
authority, deem it to be fiscally responsible to maintain an ending fund balance in the County Current
Expense Fund to provide funds sufficient as required by law to cover bond covenants, the smooth running
of the County and pay current obligations;
NOW TIIEREFORE, BE IT RESOLVED that the Board of County Commissioners will hereby
annually establish and maintain a Current Expense Ending Fund Balance, also called Current Expense
Reserves, which the Board believes is fiscally necessary, essential and prudent This budgetary total
reserve level is essential to protect cash flow and other stated reserve objectives in offsetting significant
financial revenue fluctuations, The Board believes that a Current Expense Ending Fund Balance in the
range of 9o/o - 12% ofthe prior years budget is prudent and in the event the annual total reserve level as
determined by the Board of County Commissioners is exceeded, the board may choose to adjust levels up
or down by future resolution action.
BE IT FURTHER RESOLVED by the Board of Mason County Commissioners that the Cunent
Expense Ending Fund Balance, also called Current Expense Reserves be adopted as part of the Curent
Expense Budget process to achieve the goals outlined above. This goal shall be accomplished over a three
year period beginning in 2010
Approved this 8tl'day of September, 2009.
Mason County Board of Commissioners
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Gallagher, Commi
ahnon Goudy
Clerk of the Board
lvil Deputy Prosecuting Attorney