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STATE OF WASHINGTON
County of Jefferson
In the Matter of Updating the Working }
Capital Reserve Requirement for Each County }
Fund For Years 2007 and 2008 }
RESOLUTION NO. 78-07
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, it is more effective to have a single document stipulating 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 extensively 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 hereby directs
the County Auditor to update the reserves in the accounting system based on the attached
"List of Reserve Requirements".
BE IT FURTHER RESOLVED, that the Board of Commissioners stipulates that the
working capital reserves may be used to maintain positive cash balances in County Funds
during the year, but must be at required amounts by December 31st each year.
APPROVED this 20tl{jayof August
,2007.
JEFFERSON COUNTY
BOARD OF COMMISSIONERS
ATTEST:
Q.,tAc)pT!.AJl.c::; Clfl Co
(<Julie Matthes, CMC
Deputy Clerk of the Board
(Excused Absence)
Phil JO,~ h s~o,/ airman
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David Sulli an,~ber
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JOh~ Austin, Member
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JEFFERSON COUNTY
BOARD OF COUNTY COMMISSIONERS
AGENDA REQUEST
00 CONSENT AGENDA
o REGULAR AGENDA
TO:
Board of County Commissioners
County Administrator
Allen R. Sartin, Central Services Director
August 20, 2007
Resolution - Updating the Working Capital Reserves
FROM:
DATE:
SUBJECT:
I
STATEMENT OF ISSUE:
Update for the working capital reserve requirements for County Funds. There is a
need to change the reserve requirement for the Water Quality Fund. The current
requirement is $67,000 or 10% of spending, whichever is larger. The proposed
requirement will be $100,000 or 10% of spending, whichever is larger.
STRATEGIC GOALS:
To improve the efficiency and eff~ctiveness of financial administration.
ANALYSIS (PRO & CON):
Pro: provides a single reference document that lists the requirements for all County
Funds; previously, the requirements were listed in 17 different resolutions dated
from 1996 thru present. Provides continued evaluation of working capital
requirements for all Funds based on staff and management analysis and
review.
Con: None contemplated.
COST BENEFIT ANALYSIS:
Not Applicable
FISCAL IMPACT:
Not Applicable
Revenue Budget Line Item:
Expenditure Budget Line Item:
Gain or Loss (-):
REQUESTED ACTION:
Approve attached resolution.
REVIEWED BY:
~!].~
. ohn Fischbach, County Administrator
8//5 }07
Date