Agenda - 11-19-1997 - 9b - Laserfiche WebLink

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7 i • Use of Fund Balance - The Board could consider appropriating fund balance from either the General Fund,the County Capital Project Fund, or some combination. Undesignated fund balance in the General Fund as of June 30, 1997 is about$93 million. Use of fund balance is administratively easier and less expensive than borrowing money, and use of even $780.000 would still leave our fund balance in the General Fund well above our established goal of maintaining at least 8%undesignated fund balance. However, the County has not made it a practice to use General Fund money for capital projects, and there is not sufficient capital project fund balance to cover the amount needed. If the Board approves the recommendations on the November 19 agenda related to Emergency Generators, capital project fund balance can be increased by $220,000(because$300,000 was set aside for that project, and staff has developed a scaled-down project recommendation of$80,000). One other consideration in the possible use of fund balance is that with the failure of the public building bond, there may be a need to look at greater use of fund balance to accomplish the improvements that had been planned for the Whiffed and Northern Human Services. • Use of Fund Balance and Increased 1998-99 CIP Appropriation - The Board could appropriate some General Fund and/or capital project fund balance now, with the infusion of additional cash in July through a 1998-99 capital project ordinance to pay the balance of the construction contract. Pam Jones advises that it is likely that construction work will not be completed until early in the next fiscal year. There may be additional options that we have not yet thought of, so we will continue to investigate these and any other ideas that you may have on this matter.