HomeMy WebLinkAbout62-03 - Res. Establishing Reserve for Accrued Leave Fund 131 RESOLUTION NO . 62 - 03
ESTABLISHING A RESERVE FOR ACCRUED LEAVE FUND
FUND NUMBER 131 -000- 000
WHEREAS, RCW 36 . 32 . 120, states, in part, " . " the board of county commissioners . . .
have the care of the county property and the management of the county funds and
business . . . "; and
WHEREAS, the county as of December 31 , 2002, has accrued leave in the Current
Expense fund totaling approximately $ 2, 169 , 672 ;
WHEREAS, establishing a Reserve for Accrued Leave Fund will provide a funded source
of payment for obligations of accrued leave within the Current Expense Fund .
NOW, THEREFORE, the Mason County Board of Commissioners does hereby establish
the Reserve for Accrued Leave Fund ( 131 - 000 - 000) , as described in Exhibit A .
APPROVED this 10th day of June , 2003 .
BOARD OF COUNTY COMMISSIONERS
MASON COUNTY, WASHINGTON
ATTEST: Herb Baze, Chairperson
eq
e ecca S . Rogers, Clerk of t1e Board
Wesley E . `,J hnsc Commissioner
AP OW
Ll FORM :
/� r V
Chief Deputy Prosecuting Attorney Jayni L . Kamin , Commissioner
Michael Clift
\\CLUSTERi_HOME_SERVER\HOME\CBCOMMON \RESOLUTE\2003\Reserve for Accrued Leave Fund .doc
EXHIBIT A
RESERVE FOR ACCRUED LEAVE FUND
FUND NUMBER 131 - 000- 000
A . Purpose , The Reserve for Accrued Leave Fund is established for the purpose of receiving
funds and paying costs of accrued leave for employees, within the Current Expense budget,
who retire or otherwise cease employment with the county .
B . Funding .
1 . By adoption of this resolution , the Fund shall be established .
2 . The following establishes a target schedule for maintaining the Fund in 2004 and future
years in conjunction with approval of the annual budget. However, the Commissioners
shall , by majority vote, determine the actual percentage of the Fund in any given year .
Budget Year Percent Accrued Leave Balance as of.
2004 45 12/31/02
2005 50 12/31/03
2006 55 12/31/04
2007 60 12/31/05
2008 65 12/31/06
2009 70 12/31/07
2010 75 12/31/08
2011 80 12/31/09
2012 85 12/31/ 10
2013 90 12/31/ 11
2014 95 12/31/ 12
2015 100 12/31/ 13
For all succeeding years the Fund shall be maintained at 100 percent of the balance of
accrued leave for the period ending two years prior to the budget year .
3 . The Board of County Commissioners may fund the Fund from current revenue,
unencumbered cash balances, revenue from the sale of assets or any other source they
so designate .
4 . Interest on the Fund shall remain within the Fund , however, the Board of County
Commissioners may elect to withdraw funds from the Fund in the event the Fund
balance exceeds the percent required . Such funds withdrawn shall be placed in the
Current Expense Fund .
C . Administration . The Fund shall be administered by the Director of Budget and Finance or as
determined by the Board of County Commissioners .
D . Payment Schedule . An individual payment schedule may be established upon approval of
the Board of County Commissioners .
\\CLUSTERi_HOME_SERVER\HOME\CBCOMMON\RESOLUTE\2003 \Acrrued Leave Fund Exhibit A. doc