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3 <br /> FY 2022 Estimated <br /> Fund Balance Classifications <br /> Non-Spendable $ 51,529 <br /> Restricted by State Statute $ 18,669,724 <br /> Committed $ 7,543,841 <br /> Assigned $ 14,608,888 <br /> Unassigned $ 40,445,676 16.7% <br /> Total Fund Balance $ 81,319,658 <br /> Similar to the prior fiscal year, the amounts above the current 16% Unassigned Fund Balance provide additional <br /> funding opportunities for a mid-year FY 2022-23 Budget Amendments from the Assigned Fund Balance at the <br /> December 13, 2022 BOCC meeting. As part of the County's long-term financial planning, funding allocations for <br /> School Capital Reserves and County Capital Reserves are recommended for this year's prioritization. The <br /> recommended funding to these reserves supports a request by the School Capital Work Group to find <br /> additional funding for the Schools Capital Improvement Plan (CIP). Pay-As-You-Go (PAYGO) is an established <br /> funding mechanism for governments to support their CIPS. The use of fund balance above the 16% stipulated <br /> policy conform to the non-recurring nature of these revenue and expenditure streams. The mid-year Budget <br /> Amendment will include seeding funds for a new Debt Service Fund and reserve. The new Debt Service Fund <br /> reserve will serve as a rate stabilization fund to blunt a portion of the required tax rate to fund the Schools CIP <br /> requirements. <br /> Finally, following future years financial audit results, we are recommending a formal fund balance flow of funds <br /> for funds above the unassigned fund balance policy target. This new policy is being drafted as part of the FY <br /> 2023-24 Budget development process. <br /> cc: Bonnie Hammersley, County Manager <br /> Travis Myren, Deputy Manager <br /> Kirk Vaughn, Budget Director <br /> Rebecca Crawford, Deputy Finance Director <br /> 3 <br />