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