HomeMy WebLinkAbout074 96STATE OF WASHINGTON
County of Jefferson
IN THE MATTER OF THE TRANSFER OF }
FUNDS FROM THE 1996 CURRENT EXPENSE }
BUDGET TO THE COUNTY CAPITAL }
IMPROVEMENT FUND }
RESOLUTION NO. 74-96
WHEREAS, Jefferson County received unanticipated revenue from several sources
in 1996 which were deposited in the Current Expense revenues; and,
WHEREAS, Jefferson County's needs for capital improvements do not have
funding sources to meet said needs; and,
WHEREAS, the Board of County Commissioners, in adopting budget objectives
for the 1996 budget, recognized this and adopted a policy to allocate excess funds received to
capital improvements; and
WHEREAS, the Board of Commissioners has the discretionary authority to
allocate said income to any County government purpose.
NOW, THEREFORE, BE IT RESOLVED, by the Board of County Commissioners
of Jefferson County that the County Treasurer be and is hereby directed to transfer $180,000.00
from the County General Fund into the County's Capital Improvement Fund.
BE ITFURTHER RESOLVED, that the Board of County Commissioners request
the Treasurer to invest $325,742.00 of the funds in the Capital Improvement Fund, and that the
interest received on the investment shall be dedicated to the County Capital Improvement Fund
investment.
BE ITFINALLYRESOLVED, that said funds will be retained in the Capital
Improvement Fund and not used for renovation or any other project until such time that the
County has developed, reviewed and approved a Capital Facilities Plan which will detail how the
funds are to be spent.
APPROVED AND ADOPTED thisc~__~:Sd ay o~ ~,ff~_~' 1996.
ATTEST / ~.~I1~: ! t '~ ~an ;~t, t~na, rma~ b/ ,
mon, Member /
Cler;ofil;:e~;f~C ~ ~H ,nt~g~o~~ber
JEFFERSON COUNTY TREASURER
P.O. Box 571
Port Townsend, Washington 98368
J. ikkeFsen - Treasurer (360) 385-9154
ffanetj~. 2-[o£~roo~.- Chief Deputy (360)385-9151
JEFFERSON COUNTY COURTHOUSE
NATIONAL HISTORIC SITE
PORT TOWNSEND, WASHINGTON
August 28, 1996
TO: BOCC
FROM: Ila Mikkelsen .~11' ~.
RE: Capital Improvement Fund investments
The attached resolution transferring monies from the General Fund to the County's Capital
Improvement Fund and setting up an investment fund includes the following sums and their origins:
$ 20,142 - Current Expense portion of sale of Pioneer Bldg. 1995
125,000 - Excess timber funds received in 1995 and transferred in 1996
180,600 - Refund from state paid in error on surplus property sale in 94 & 95
TOTAL $325,742
When you authorize me to make the investment for that amount with the interest returned to the
investment, it will separate it from the rest of the fund and it can then be tracked. Anytime money
is moved from the investment this office will be able to trace the request to be sure it has been
authorized.
I hope the above information is helpful to you prior to signing the resolution. If you have any
questions, I would be happy to answer them.
cc: Anne Sears
Accounting
(360) 385-9152
General Tax
Information Foreclosure Toll Free
(360) 385-9150 (360) 385-9352 1-800-831-2678
Fax
(360) 385-9149