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In the Matter of Establishing a
Economic Development Fund
Under the County Administrator
STATE OF WASHINGTON
County of Jefferson
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RESOLUTION NO. 12-06
WHEREAS, the Board of County Commissioners has determined that it is in the best interest of
the citizens that the County establish an Economic Development function in the County government;
and
WHEREAS, the Board of County Commissioners has directed the new Economic Development
function shall initially report directly to the County Administrator; and
WHEREAS, the Board of County Commissioners has directed the County Administrator to
establish the necessary accounting and budget to fund an Economic Development function; and,
WHEREAS, the County Administrator has determined that the a separate Fund is the most
efficient and effective method to account and budget for such a function;
THEREFORE BE IT RESOL VED, that the Board of Commissioners hereby directs the County
Auditor incorporate this new "special revenue" fund into the County's accounting system and to disclose
such Fund in the County's Annual Financial Statements; the Fund shall be known as the Economic
Development Fund, number 114-000-010.
BE IT FURTHER RESOLVED, that the Board of Commissioners further directs that $25,000
currently budgeted in the General Fund for Economic Development activities be transferred to the new
Fund through the normal budget supplemental process.
BE IT FURTHER RESOLVED, that the Board of Commissioners further directs that interest
earning for this Fund shall be deposited into the General Fund.
BE IT FINALLY RESOLVED, that the Economic Development Fund will have a initial working
capital reserve requirement of 25% of expected annual expenses and that the initial working capital will
be provided by the General Fund through the normal budget supplemental process.
APPROVED this .dQ~y of }ha.A.d0(2006.
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Erin Lundgren
Deputy Clerk of the Board