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Consent-General Government # 12.
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| Board of Supervisors |
Financial Services |
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| Subject |
| Waive second reading and adopt ordinance adding Section 3-1.05 to Chapter 1 to Title 3 of the Yolo County Code creating a policy on fund balances and financial reserves. (No general fund impact) (Newens) |
| Recommended Action |
| Waive second reading and adopt ordinance adding Section 3-1.05 to Chapter 1 to Title 3 of the Yolo County Code creating a policy on fund balances and financial reserves. |
| Strategic Plan Goal(s) |
| Operational Excellence |
| Reason for Recommended Action/Background |
| Consistent with Board discussion of this topic on September 25, 2018, the attached ordinance (Attachment A) and policy (Attachment B) will reflect the Board's intention to commit the general reserve balance for its intended purpose. Reporting the general reserve as committed fund balance in the Comprehensive Annual Financial Report better reflects the steps taken to ensure financial sustainability of the County. |
| Collaborations (including Board advisory groups and external partner agencies) |
| The attached ordinance and policy have been reviewed by the Department of Financial Services Management Team, County fiscal officers, County department heads, the County Administrator's Office, County Counsel, and the County's external auditor. The results of the review and corresponding suggestions have been incorporated into the attached ordinance and policy. |
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| Fiscal Impact |
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| Source of Funds for this Expenditure |
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