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Chapter 707: Health and Human Services Levy Fund, Fund Balance Reserve Policy

Section 707.01 Health and Human Services Levy Fund Reserve

The County Council hereby establishes ten percent (10%) of the current fiscal year’s Health and Human Services Levy Fund ongoing budgeted operating expenditures as a Health and Human Services Levy Fund, fund balance reserve except that the Health and Human Services Levy Fund, fund balance reserve shall be fifteen percent (15%) through December 31, 2013.

(Ordinance No. O2011-0058, Enacted 5/8/2012, Effective 5/11/2012)

Section 707.02 Permitted Uses

The reserve may only be used to stabilize revenues, mitigate a projected deficit in the current operating period, retire or defease outstanding bonds or notes of the County, fund one-time or unanticipated expenditures, and pay judgments or otherwise settle legal disputes and claims.

(Ordinance No. O2011-0058, Enacted 5/8/2012, Effective 5/11/2012)

Section 707.03 Reduction in Reserve Balance

  1. Any legislative action that results in reducing Health and Human Services Levy Fund reserves below the reserve balance target set in Section 707.01 shall contain a provision authorizing the use of reserves.
  2. The County Executive shall inform the Council, with at least one hundred twenty (120) days' notice whenever possible, whenever the County has obligations that would reasonably be expected to result in the Health and Human Services Levy Fund reserve declining below the reserve balance target set in Section 707.01.
  3. At any other time that the Council determines that the use of Health and Human Services Levy Fund reserves within the reserve balance target set in Section 707.01 are needed for one or more of the reasons provided for in Section 707.02, the Council shall, by resolution, authorize the use of such reserves.  
(Ordinance No. O2011-0058, Enacted 5/8/2012, Effective 5/11/2012)