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(1,( }.ll STATE OF W ASIilNGTON County of Jefferson In the Matter of Updating the Working Capital Reserve Requirement for Each County Fund } } } RESOLUTION NO. 63-11 WHEREAS, it is critical to the adequate financial mHnHgement 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 recommendations 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 RESOL VED, that the Board of Commissioners replaces Resolution No. 20-08 and Resolution No. 49-08 with this resolution; and, this resolution also replaces the estimated required reserve amounts shown on 2011 budget Resolution No. 56-10; and BE IT FURTHER RESOLVED, that the Board of Commissioners hereby directs the County Administrator, Department Heads and Elected Officials to consider the reserve requirements as they mHnage their budgets, as they prepare budgets during the annual budget preparation process, and as they prepare supplemental budget requests. ~~ Raina Randall Deputy Clerk of the Board JEFFERSON COUNTY BO mSSIONERS hairman JEFFERSON COUNTY. List of Reserve Requirements. All Funds 121712011 % MinImum Fund reserve DescrIption 00l-GENERAL FUND 10% 10% of Total Spending 105-AUOITOR'S O&M 10% 10% efTetal Spending, Excluding Cap1ftaI l08-C0UR1HOUSE FACILITATOR N/A None Required l07-BOAl1NG SAFElY PROGRAM 10% 10% olTolB1 Spending, excluding capi1a1 l08-C00PERATlVE EXr. PROGRAMS 10% 32,000 10% 01T01B1 Spending, or $32,000, whichever Is larger 1134-H AFTER SCHOOL 10% 10,000 10% of Total Spending, or $1 0,000, whichever is larger 114-ECONOMIC DEVELOPMENT 25% 25% olTotal Spending 119-JEFFCOM CAPITAL FUND (new 2011) 5% 5% of Debt SerAce E>.pens6 l2O-CRlME VICllMS SERVICES 10% 10% olTotal Spending 122-1:-911 TELEPHONE (JEFFCOM) 10% 10% olTotal Spending, E>cIudlng CsptllBI 123-JEFF CO GRANT MANAGEMENT FUND 10% 73,000 10% oITotal Spending, or $73,000, whichever is lerger 125-HOTEL-MOTEL 25% 25% olTotal Spending 126-H&HS SITE ABATEMENT N/A None Required 127-PUBLlC HEALTH 10% 253,981 10% olTolB1 Spending, or $253,981, whlche....r Is lerger 128-WATER QUALITY 10% 171,000 10% olTolB1 Spending, or$171,000, whlche....rls larger 128-AN1MAL SERVICES 10% 24,000 10% oITotal Spending, or $24,000, whlch.....r Is larger l3O-MENTAL HEALTH N/A Pass Through Fund only 131-CHEMICAL DEPENDlMENTAL HEALTH 10% 10% of Total Rewnues 139-JEFFERSON COUNlY DRUG FUND 10% 10% oITolB1 Spending 139-SHERlFF DRUG INVESllGA1l0N 10% 10% olTolB1 Spending 14o-LAW LIBRARY 10% 10% 01T01B1 Spending, E>cIudlng CaptiIBI 141-TRlAL COURT IMPROVEMENT 10% 10% olTotal Spending 142-PUBLlC DEFENSE FUNDING N/A None Required 143-cOMMUNITY DEVELOPMENT 10% 153,000 10% olTolB1 Spending, or $153,000, whichever Is larger 147-FEDERAL FORESTllTLE 111 10% 10% olTolB1 Spending 149-JEFF CO AFFOROABLE HOUBING 10% 10% efTetal SpendIng 150-llREASURER'S O&M N/A None Required (RCW84.58020(08) 151-REETTECHNOLOGY FUND N/A None Required 155-VETERANS RELIEF 10% 10% 01 TolBl Spending 16O-WATER POLLUTION CNTRL LOAN FUND 10% 87,000 10% oITotal Spending, or $87,000, whlche_ls larger 174-PARKS AND RECREAll0N 10% 84,000 10% 01T01aI Spending, or $84,000, whlche_ls larger 175-cOUNlY PARKS IMPROVEMENT FUND N/A Capital projects only; Fund requires no working capital 177.sPECIAL PROJECTS FUND 10% 45,000 10% oITotal Spending, or $45,000, which...., Is larger 176-POST HARVEST 11MBER MGMT RESV N/A SpeoIe1 Projecls only, Based on preftJndlng expenses 18(l.COUNTY ROADS 25% 25% 01 Operating Elcpenses, excluding capllBI 181-EMERGENCY ROAD RESERVE N/A Emergency Projects only, based on prefundlng 183-FACIU11ES MANAGEMENT 10% 86,000 10% ofTotaI Spending, or$66,OOO, whichever is larger 1llS-FLooD/STORM WATER MANAGEMENT N/A Capftal projeclB only; Fund requires noworking capital 186-BRlNNON FLOOD CONTROL SUB-ZONE N/A Capftal projedB only; Fund requires noworking capital 187-QUIlCENE FLOOD CONTROL SUB-ZONE N/A Capital projecls only; Fund requires noworking capital 301-CONSTRUCllON & RENOVAll0N N/A 10% of Total Spending 302-COUNTY CAPITAL IMPROVEMENT 5001a 50% of Annual Debt BeNce expense 304-H.J. CARROLL PARK N/A Caplfal projects only, Fund requires no working capital 308-PUBLlC INFRASTRUClURE {ertes Unpeld portion 01 epproved grems 308-CONSERVA1l0N FUTURES TAX 10% 10% olTolB1 Spending 401.s0LID WASTE 10% 10% of Total Spending 402.s0LID WASTE POST CLOSURE N/; Based on prefundlng post--closure expenses 403.s0LID WASTE EQUIPMENT RESERVE N/; Caplfal projects only; Fund requires no working capital 404-YAROWASTE EDUCAll0N FUND N/; Prefunded ellpenses 405- TRJ.AREA SEWER FUND 10% 10'10 olTolaI Spending, E>cIudlng CapllBl 501-1:QUIPMENT RENTAL & REVOLVING 25% 25% of 12131 Accumulated Depreciation for Equipment 502-R1SK MANAGEMENT RESERVE N/; 150,000 100/0 ofTata! Spending, or$150,OOO, whichewr is larger aoa.-JC UNEMPLOYMENT RESERVE 10% 10% oITotal Spending 504-INDUBTRIAL INSURANCE RESERVE 10% 10% of Total Spending 505-EMPLOYEE BENEFIT RESERVE 10% 10% olTotal Spending 506-INFORMA 110N SERVICES 25% 25% of12131.Accumulated Depreciation for Equipment 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 20-08 Proposed and 49-08 Resolution Fund Percent MinImum Percent Minimum Reason for Change 119-JEFFCOM CAPITAL FUND 5% of Jeff Com 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 suffldent for cash flow 128-WA TER 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-ANlMAl SERVICES 10% of 36,000 10% of 24,000 Reduced minimum reserve, $24,000 is Expend. Expend. suffldent for cash flow 131-CHEMICAl 20%of 10%of Change reserve to 10% of Revenues, 100/0 is DEPEND/MENTAL HEALTH Revenue Revenue suffident for cash flow. 177-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. ~~~ 1.2-/7;;/ Date