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Home My WebLink About121211_ra03 JEFFERSON COUNTY BOARD OF COUNTY COMMISSIONERS REGULAR AGENDA REQUEST TO: FROM: DATE: SUBJECT: Board of County Commissioners Philip Morley, County Administrator December 12, 2011 Resolution Updating the Working Capital Reserves STATEMENT OF ISSUE: Update working capital requirements for all Jefferson County Funds. ANALYSIS: The required working capital reserves have been reviewed during the 2012 budget process and the following changes are proposed from previous Resolution 20-08 and Resolution 49-08: Reserves include a percent of revenue or expenditure for each fund, as well as a minimum dollar reserve for certain specific funds. Resolution 20-OS Proposed and 49-OS Resolution Fund Pe rcent Minimum Percent Minimum Reason for Change 119-JEFFCOM CAPITAL FUND 5% of JeffCom Debt service paid out of fund 119 (new 2011) Debt beg. 2011, new proposed reserve requirement 121-JEFFCOM ENHANCEMENT 50% of Fund closed out 2011, Debt Service moved to Debt Fund 119 123-JEFF CO GRANT 10% of 118,000 10% of 73,000 Move 45,000 to Special Projects Fund for cash MANAGEMENT FUND Expend. Expend. flow, 73,000 Is sufflclentfor cash flow 128-WATER QUAUlY 10% of 181,000 10% of 171,000 Reduce by $10,000 bringing minimum total to Expend. Expend. $171,000, which Is sufficient for cash flow. 129-ANlMALSERVICES 10% of 36,000 10%01 24,000 Reduced minimum reserve, $24,000 is Expend. Expend. sufficient for cash flow 131-CHEMICAL 20% of 10%01 Change reserve to 10% of Revenues, l11"Ai is DEPEND/MENTAL HEALTH Revenue Revenue sufficient for cash flow. In-SPECIAL PROJECTS FUND 10% of 45,000 Moved from fund 123, reserve required for Expend. cash flow for special projects FISCAL IMPACT: Reduces minimum requirements for all funds combined by a net of $22,000, and lowers the percent reserve required for fund 131 to 10% of revenue. REQUESTED ACTION: Approve attached resolution updating and confirming working capital reserves for all funds. ~~ t2h;;/ Date STATE OF WASHINGTON County of Jefferson In the Matter of Updating the Working Capital Reserve Requirement for Each County Fund } } } RESOLUTION NO. WHEREAS, it is critical to the adequate financial mAnAgement of County Funds to clearly define the working capital reserves required for each County Fund; and WHEREAS, Resolution No. 20-08 and Resolution No. 49-08 approved in 2008 stipulate the reserve requirements for all County Funds. and, WHEREAS, the specific reco=endations for the type and level of reserve for each County Fund have been reviewed by staff and elected officials; and, WHEREAS, the County Administrator is supportive of these reserves, THEREFORE BE IT RESOLVED. that the Board ofCo=issioners replaces Resolution No. 20-08 and Resolution No. 49-08 with this resolution; and, this resolution also replaces the estimAtP.tl required reserve amounts shown on 2011 budget Resolution No. 56-10; and BE IT FURTHERRESOL VED, that the Board ofCo=issioners hereby directs the County Administrator, Department Heads and Elected Officials to consider the reserve requirements as they mAnAge their budgets, as they prepare budgets during the annual budget preparation process, and as they prepare supplemental budget requests. APPROVED this _ day of December, 2011. lliFFERSON COUNTY BOARD OF COMMISSIONERS SEAL: John Austin, Chairman Phil Johnson, Member ATTEST: Raina Randall Deputy Clerk of the Board David Sullivan, Member JEFFERSON COUNTY. LIst of Reserve Requirements. All Funds 121712011 % Minimum Fund """""" Description 001-GENERAL FUND 10% 10% cfTatal Spending 105-AUDITOR'S O&M 10% 10% olTolal Spending, El<<:Iuding Captilal 1tJ6.COURTHOUSE FACILITATOR NI; None Required 107-BOATING SAFE1Y PROGRAM 10% 10% ofTolal Spending, exoluding capital 1tJ6.COOPERA1lVE EXr. PROGRAMS 10% 32,000 10% olTolal Spending, or $32,000, whichever Is larger 113-4-H AFTER SCHOOL 10% 10,000 10% ofTolal Spending, or $1 0,000, whichever Is largar 114-ECONOMIC DEVELOPMENT 25% 25% afTota! Spending 119-JEFFCOM CAPITAL FUND (new 2011) 5% 5% of Debt Ser\'fce 8lpense 120-CRlME VICTIMS SERVICES 10% 10% afTotsl Spending 122-E-911 TELEPHONE (JEFFCOM) 10% 10% ofTolal Spending, El<<:Iudlng Captilal 123-JEFF CO GRANT MANAGEMENT FUND 10% 73,000 10% of Total Spending, or $73,000, whiche\'6r is larger 125-HOTEL-MOTEL 25% 25% ofTolal Spending 125-H&HS SITE ABATEMENT NlA None Required 127-PUBUC HEALTH 10% 253,981 10% ofTolal Spending, or $253,981, whichaver Is larger 128-WATER QUALITY 10% 171,000 10% ofTolal Spending, or$171,OOO, whichever Is larger 129-AN1MAL SERVICES 10% 24,000 10% ofTo1aI Spending, or $24,000, whlchewr Is larger 130-MENTAL HEALTH NlA Pass Through Fund only 131-CHEMICAL DEPENDlMENTAL HEALTH 10% 10% ofTotaI Revenues 135-JEFFERSON COUN1Y DRUG FUND 10% 10% ofTolaI Spending 136-SHERlFF DRUG INVESTIGATION 10% 10% o1T0181 Spending 140-LAW LIBRARY 10% 10% ofTolal Spending, El<<:Iuding Captilal 141-TRlAL COURT IMPROVEMENT 10% 10% ofTo1aI Spending 142-PUBUC DEFENSE FUNDING NlA None Required 143-cOMMUNITY DEVELOPMENT 10% 153,000 10% ofTolal Spending, or $153,000, whichever Is larger 147-FEDERAL FORESTlTTLE III 10% 10% ofTolaI Spending 148-JEFF CO AFFOROABLE HOUSING 10% 10% ofTolaI Spending 150-TIREASURER'S o&M NlA Nona Required (RC~.56020(08) 151-REETTECHNOLOGY FUND NlA None Required 155-VETERANS REUEF 10% 10% of Total Spending 160-WATER POLLUTION CNlRL LOAN FUND 10% 67,000 10% ofTo1Bl Spending, or$67,OOO, whlchswrls larger 174-PARKS AND RECREATION 10% 84,000 10% ofTo1aI Spending, or $64,000, whlchelJBfls larger 17S-COUNiY PARKS IMPROVEMENT FUND NlA Capital projects only, Fund requires no working capital 177.sPECIAL PROJECTS FUND 10% 45,000 10% ofTolaI Spending, or$45,oOO, whichever Is largar 178-POST HARVEST TIMBER MGMT RESV NlA Spada! ProJeoIs only, Based on prefundlng expenses 16O-COUN1Y ROADS 25% 25% of Operating Elcpenses, exoiudlng capital 181-EMERGENCY ROAD RESERVE NlA Emergency Projecls only, based on prefunding 183-FACIUTlES MANAGEMENT 10% 65,000 10% of Total Spending, or $66,000, whichmer is larger 185-FLOODISTORM WATER MANAGEMENT NlA Capital projects only; Fund requires no working capital 188-BRlNNON FLOOD CONTROL Sua-zoNE NlA Capital projects only; Fund requires no working capital 187-QUILCENE FLOOD CONTROL Sua-zoNE NlA Capital projects only; Fund requires no working capital 301-CONSTRUCTION & RENOVATION NlA 10% of Total Spending 302-COUNiY CAPITAL IMPROVEMENT 50'A. 50% of Annual Debt SaNae mpense 304-H,J, CARROLL PARK NlA Capital projects only; Fund requires no working capital 3OS-PUBUC INFRASTRUCTURE Varies Unpaid portion ofappTO\ed grants 3tJ6.CONSERVATION FUTURES TAX 10% 10% of Total Spending 401.s0UD WASTE 10% 10% ofTata! Spending 402.s0UDWASTE POST CLOSURE NlA Based on prefundlng post~osure expenses 403-S0UD WASTE EQUIPMENT RESERVE NlA Capital projecls only; Fund requires no working capital 404-YARD WASTE EDUCATION FUND NlA Prefunded expenses 405- TRl-AREA SEWER FUND 10% 10% of Total Spending, Excluding Capital 501-EQUIPMENT RENTAL & REVOLVING 25% 25% of 12/31 Jlc:cumulatecl Depreciation for Equipment 502-R1SK MANAGEMENT RESERVE NlA 150,000 10% ofTota! Spending, or$150,OOO, whichever!s larger 503-)C UNEMPLOYMENT RESERVE 10% 10% olTolal Spending 504-INDUSTRIAL INSURANCE RESERVE 10% 10% ofTata! Spending 505-EMPLOYEE BENEFIT RESERVE 10% 10% ofTota! Spending 3OS-INFORMA TION SERVICES 25% 25% of12J31 Accumulated Depreciation for Equipment