Agenda - 04-05-2011 - 8c - Laserfiche WebLink

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oRANGECOUNTY BDARD of COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: April 5, 2011 Action Agenda Item No. SUBJECT: Approval of orange County's Capital Funding, Debt Management, Fund Balance, and Investment Policies DEPARTMENT: County Manager and Financial PUBLIC HEARING: ~Y1N} No Services ATTACHMENTS}: INFaRMAT14N CONTACT; Attachment 1:orange County Capital Frank Clifton, X919} 245-2306 Funding Policy Clarence Grier, X919} 2452453 Attachment 2: orange County Debt Management Policy Attachment 3: orange County Fund Balance Management Policy Attachment 4: orange County Investment Polic PURPQSE: To approve changes in the Capital Funding, Debt Management, Fund Balance Management and Investment Policies. BACKGROUND: Earlier this fiscal year, staff proposed changes to some existing financial policies of the County Capital Funding and Debt Management}, Additionally, staff proposed two new financial policies Fund Balance and Investment}. As previously, discussed, one of the factors in the County's bonds and debt being rated highly by the rating agencies is the existence of sound fiscal policies and procedures. Staff has provided the updated policies and procedures for Board information and approval: • orange County Capital Funding Policy • orange County Debt Management Policy • orange County Fund Balance Management Policy • 'Grange County Investment Policy The attached policies document the County's current practices, procedures, and standards. Moreover, these policies viii align the County's financial management practices with the current financial rules and reporting standards promulgated by the Government Finance Officers Association ~GFOA} and the Local Government Commission ~LGC~. FINANCIAL IMPACT: There is no a financial impact with .consideration of these policies.