Laserfiche WebLink
NOTE 2- ORGANIZATION AND DESCRIPTION OF FUNDS (CONTINUE01: <br />FUND <br />Intemal Service (continuedl: <br />Insurance <br />Aaencv <br />?reasurer's Tmst <br />Due Subdivisions <br />Account Grouos• <br />General Fixed Assets <br />General Long-Term <br />Obligations <br />PRINCIPAL RESOURCES <br />~8~ ~Premiums) to other <br />funr3s for insuranx coverage. <br />None <br />None Accoimts for taxes and miscedlsaeous <br />contiacted accouating functions <br />provided to other governmeats within <br />the County. <br />None Racot+ds non-proprietary fucod assets of <br />the County. <br />N~e Reoords all general long-term <br />obligations of the County. <br />pESCRIPTION OF OPERATIONS <br />Provides insurance coverage and pays <br />cWms for self-insured l~ses. <br />Accounts for warrants, deferrod <br />oompe~sati~ and payroll liabilities <br />outstanding. <br />NOTE 3- BUDGETS AND BUOGETARY ACCOUNTING: <br />The County budgets all funds except the Agency Funds. <br />The County follows these procedures in e~txblisbing the budgetary data reflected in the financial statements: <br />1. Around March 1, the County's Budget Officer submits a proposed budget to the County Budget Committee for the <br />ensuing fiscal year starting July 1. The budget includes recommeaded eapmditure category levels and the estimated <br />reveaues that will finance them. <br />2. The Budget Committee holds public hearings on the proposed budget and recommends a budget which is published <br />at least two weeks prior to the adoption of the budget resolution by the County's Board of Commissioaers at a <br />public hearing. <br />3. After a hearing and prior to July 1, the budget is enacted by a Commissioners' resolution. If it is not eaacted prior <br />to July, the County has no suthority to expend monies until the resolution is enacted. <br />4. T6e departments are suthorized to transfer appropriations between line items within a category but transfers <br />between categories and departments must be approved by the Board of Comcnissioners. Usual categories foi <br />appropriations aee the total of Petsonnel Services, Materials and Services, Capital Outlay, Special Payments, <br />Transfers and Contingency. Any revisions that alter the total appropriations of any fund, other than thmugh the <br />receipt of a new, designated grant, must be made using a supple~tat ~dget. This process requires Budget <br />- Committee approval, a hearing and enactment by t6e Board of Commissioners. <br />-16- <br />