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STATE OF WASHINGTON
County of Jefferson
In the Matter of Providing a Positive Cash
Balance in the Water Quality Fund
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RESOLUTION NO, 49-08
WHEREAS, the Water Quality Fund, 128, relies on grant funding from the State for
a significant portion of their revenue; and
WHEREAS, the Water Quality Fund, 128, relies on interfund transfers for a
significant portion of their revenue; and,
WHEREAS, there is a significant delay in receiving these funds, quarterly for the
interfund transfers, and 3 months from submission to the State for reimbursement of
expenses; and,
WHEREAS, this delay in revenues causes cash flow problems in paying legitimate
and budgeted expenses; and,
WHEREAS, the Water quality fund requires more cash than they currently have for
cash flow purposes,
THEREFORE BE IT RESOL VED, that the Board of Commissioners hereby directs
the Treasurer to transfer an additional $81 ,000 from the General Fund to the Water Quality
Fund (128) to bring the restricted cash to $181 ,000; such restricted cash is to be shown as
Restricted Fund Balance,
BE IT FURTHER RESOL VED, that the Restricted Fund Balance be used solely for
the purpose of cash flow needs to meet budgeted expenses,
APPROVED this l4thdayof
July
,2007,
JEFFERSON COUNTY
BOARD OF COMMISSIONERS
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David Sullivan, Member
ATTEST:
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Deputy Clerk of the Board
(Excused Absence)
John Austin, Member
JEFFERSON COUNTY
BOARD OF COUNTY COMMISSIONERS
AGENDA REQUEST
00 CONSENT AGENDA
D REGULAR AGENDA
FROM:
DATE:
SUBJECT:
Board of County Commissioners
County Administrator
Allen R. Sartin, Central Services Director
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TO:
July 14, 2008
In the Matter of Maintaining a Positive Cash Balance for the Water Quality
Fund
STATEMENT OF ISSUE:
Most of the revenue to the Water Quality Fund occurs about 3 months after the expense has
occurred, This delay in receiving revenue both from the State (grant reimbursements take 3
months to process by the State) and the General Fund (transfers are processed quarterly)
creates a greater cash flow requirement than is currently available in the cash balances of the
Fund, Since the expenditure budget is $723,947, the amount needed for cash flow purposes
is about $181,000, Therefore, the current restricted cash of $100,000 needs to be increased
by $81,000,
STRATEGIC GOALS:
Effectiveness and efficiency of government.
ANALYSIS (PRO & CON):
Not Applicable
COST BENEFIT ANALYSIS:
Not Applicable
FISCAL IMPACT:
Not Applicable
Revenue Budget Line Item:
Expenditure Budget Line Item:
Gain or Loss (-j:
REQUESTED ACTION:
Approve & sign proposed resolution,
REVIE
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Dennis Rich ds, County Administrator