ORD-2016-026 Ordinance adopting the Fiscal Year 2016-17 Operating Budget

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ORD-2016-026 The Board of Commissioners hereby directs the following measures for budget administration and review: That upon adoption, each Board of Education will supply to the Board of County Commissioners a detailed report of the budget showing all appropriations by function and purpose, specifically to include funding increases and new program funding. The Board of Education will provide to the Board of County Commissioners a copy of the annual audit, monthly financial reports, copies of all budget amendments showing disbursements and use of local moneys granted to the Board of Education by the Board of Commissioners. The Board of Commissioners hereby approves the following financial policies: 1. The County will not initiate pay-as-you-go funding until October 1 of each fiscal year, and pending a review of the first quarter financial report, with the exception of County appropriations to the school districts and any other County Manager exceptions. 2. The County will initiate measures to recoup sales tax proceeds on school capital projects through the conveyance of school property to the County with the school property reverting back to the school districts at the end of the construction period. 3. The County will ensure that all monthly general ledger postings occur by the 10th work day of each month. 4. The County will ensure that monthly financial reports are available by the 15th work day of each month. 5. The County will not issue debt for a project until a bid award date and construction start date is established. Section X. Internal Service Fund - Dental and Health Insurance Fund The Dental Insurance Fund accounts for the receipt of premium payments from the County for its employees and from the employees for their dependents, and the payment of employee claims and administration expenses. Projected receipts from the County and employees for fiscal year 2016-17 are $521,054 and projected expense for claims and administration for fiscal year 2016-17 is $521,054. The Health Insurance Fund accounts for the receipt of premium payments from the County for its employees and from the employees for their dependents, and the payment of employee claims and administration expenses. Projected receipts from the County and employees for fiscal year 2016-17 is $9,304,200 and projected expense for claims and administration for fiscal year 2016-17 is $9,304,200. Section XI. Internal Service Fund -Vehicle Replacement Fund The Vehicle Replacement Fund will centralize and account for the purchase and replacement of County vehicles purchased with revenues and funding provided by the Governmental Funds of Orange County (General Fund, Special Revenue and Grants Funds). Projected sources of revenues and funds for fiscal year 2016-17 will be $789,722 of short-term installment financing and internal reserves, and the projected expenses for the purchase of vehicles for fiscal year 2016-17 will be $789,722. Section XII. Agency Funds These funds account for assets held by the County as an agent for other government units, and by State Statutes, these funds are not subject to appropriation by the Board of County Commissioners, and not included in this ordinance. 7