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12 <br /> 1 The Board considered a recommendation for the use of the General Fund unassigned <br /> 2 Fund Balance in excess of the BOCC's fund balance policy of$1.5 million of the excess fund <br /> 3 balance to continue the funding of the Other Post Employment Benefits (OPEB) Fund; $450,000 <br /> 4 to replenish the Social Justice Fund or for FY2014-15 appropriations as needed; and the <br /> 5 remaining balance of$1.1 million available unassigned balance be used to balance the FY2015- <br /> 6 16 budget; and provided direction and feedback to staff on the other potential uses of <br /> 7 unassigned (available) fund balance. <br /> 8 Clarence Grier said staff has made some recommendations for the unassigned fund <br /> 9 balance in excess of the BOCC's fund balance policy of 17 percent. He reviewed the following <br /> 10 information from Page 6 of attachment 2: <br /> 11 <br /> 12 General Fund Balance Available for Appropriation as of January 22, 2015 <br /> 13 Attachment 2 <br /> 14 <br /> 15 Totals <br /> 16 Fund Balance Available for Appropriation (A), June 30, 2014 $ 44,940,204 <br /> 17 Fund Balance, Assigned <br /> 18 FY2014-2015 Budget $ 10,068,343 <br /> 19 Total Assigned Fund Balance (B) 10,068,343 <br /> 20 <br /> 21 Fund Balance Unassigned (A less B), June 30, 2014 $ 34,871,861 <br /> 22 <br /> 23 General Fund Expenditures for the year ended June 30, 2014 $186,998,772 <br /> 24 <br /> 25 <br /> 26 General Fund Unassigned Fund Balance as of June 30, 2014 <br /> 27 As a Percentage of General Fund Expenditures 18.65% <br /> 28 BOCC Fund Balance Policy - 17 % 17.00% <br /> 29 <br /> 30 General Fund Unassigned Fund Balance as of June 30, 2014 <br /> 31 In excess of the Board's policy $ 3,082,070 <br /> 32 Less: OPEB Funding (1,541,035) <br /> 33 Less: CY Appropriation of Fund Balance - <br /> 34 <br /> 35 Additional Unassigned Fund Balance Available for Appropriation <br /> 36 As of November 30, 2014 $ 1,541,035 <br /> 37 <br /> 38 Suggested Current Year uses of the Additional Fund Balance Available to <br /> 39 avoid financing cost: Replenish the Social Justice Fund or General Fund <br /> 40 appropriations (as needed) for FY2014-15 45( 0,000) <br /> 41 <br /> 42 Additional Amounts Available for Appropriation L!,091,035 <br /> 43 <br /> 44 <br /> 45 * 17% Fund Balance totals........................................................................ $ 31,789,791 <br /> 46 <br /> 47 Clarence Grier noted the information on attachment 3. He said the fund balance has <br /> 48 increased by 57.83 percent since 2008. He said it has increased 105 percent since 2009. He <br /> 49 said the outstanding liability for OPEB is now$59.1 million. <br />