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DocuSign Envelope ID:8DE9B5E5-C69D-4B5B-8F91-9984D8F6E6CD 14 <br /> • Whereas, it is a best practice for governments to account for capital assets <br /> separate from their operating funds, and; Whereas, enterprise funds generally <br /> establish Renewal and Replacement Capital Funds to account for the acquisition <br /> of capital assets; Therefore, <br /> a. The Solid Waste Renewal and Replacement Capital Fund is established <br /> to account for sources of income earmarked to fund the County Capital <br /> Investment Plan. Sources of income including debt financing proceeds, <br /> pay-as-you-go funds, and any other sources earmarked to finance <br /> acquisition of capital assets. <br /> b. The Sportsplex Renewal and Replacement Capital Fund is established to <br /> account for sources of income earmarked to fund the County Capital <br /> Investment Plan. Sources of income including debt financing proceeds, <br /> pay-as-you-go funds, and any other sources earmarked to finance <br /> acquisition of capital assets. <br /> • Whereas, the County intends to undertake Capital Projects as approved in Year <br /> 1 (FY 2020-21) of the Capital Investment Plan, will use its own funds to pay initial <br /> Project costs, and then reimburse itself from financing proceeds for these early <br /> expenditures. The expected primary type of financing for the Projects is <br /> installment financing under Section 160A-20. The financing may include more <br /> than one installment financing, and may include installment financings with <br /> equipment vendors and installment financings that include the use of limited <br /> obligation bonds. The Manager and Finance Officer have advised the Board that <br /> it should adopt this resolution to document the County's plans for reimbursement, <br /> in order to comply with certain federal tax rules relating to reimbursement from <br /> financing proceeds. <br /> • The Community Loan Fund will issue no interest loans to recipients in this <br /> program. <br /> • The County has adopted a policy to fund no interest loans to Non-Profit <br /> organizations that meet certain financial criteria, as adopted on September 20, <br /> 2018. <br /> • The County will include in its Travel Policy that travel expenses for <br /> Commissioners and County Staff will include the purchase of carbon offsets for <br /> any airfare and the miles traveled by Car Share vehicles. <br /> Section X. Internal Service Fund - Health and Dental Insurance Fund <br /> The Health and Dental Insurance Fund accounts for receipts of premium payments from <br /> the County and its employees, employees for their dependents, all retirees and the <br /> payment of employee and retiree claims and administration expenses. Projected <br /> receipts and fund reserves from the County and employees for fiscal year 2020-21 will <br /> be $14,085,214, and projected expenses for claims and administration for fiscal year <br /> 2020-21 will be $14,085,214. <br /> Section XI. Agency Funds <br /> These funds account for assets held by the County as an agent for other government <br /> units, and by State Statutes, these funds are not subject to appropriation by the Board of <br /> County Commissioners, and not included in this ordinance. <br /> Section XII. Encumbrances <br /> Operating funds encumbered by the County as of June 30, 2020 are hereby <br /> reappropriated to this budget. <br /> 7 <br />