A G E N D A COUNTY BOARD, COUNTY OF ... - Kane County, IL

Page 5 of 203, Res. #12-253
to the appropriate committee. The department head or elected official shall then
present the request and/or transfer to his/her own committee for approval. If
approved by such committee, the request and/or transfer shall be presented to the
Finance Committee for approval. If approved, the request and/or transfer would go
to Executive Committee and then the County Board for final approval
If a supplemental budget request and/or budget transfer is not approved the
department head or elected official is not authorized to spend in excess of his/her
department budget in a specific fund. Also, the department head or elected official
shall present an action plan to the Finance Committee for staying within budget for
the fiscal year.
In the event actual expenditures from any department budget in a specific fund of
any County department or office equals the amount budgeted for the fiscal year, no
further expenditures may be incurred or paid unless authorized by the County Board
as set forth herein. This policy shall apply to all expenditures, including payroll and
other expenditures.
2. Reserve Policies
a) Objectives by fund
It shall be the intent of the County to set objectives for the Corporate, Enterprise
Surcharge and Enterprise General Funds with regard to reserve policies. The
County shall set reserves at a minimum of 3 months operating expenditures in the
Corporate Fund. The Enterprise Surcharge Fund will have a minimum fund balance
of $3 million each year. The Enterprise General Fund will have a minimum fund
balance of $4 million each year.
b) Phasing out the use of the Enterprise Surcharge Fund for environmental and
environmental prosecution expenditures
The Settler's Hill Landfill will-bewas closing closed in 2006 and the County will is no
longer be receiving related landfill revenues in the Enterprise Surcharge Fund.
Therefore, it shall be the intent of the County to phase out the use of the Enterprise
Surcharge Fund for environmental and environmental prosecution expenditures and
look for alternative revenue sources.
c) Contingency accounts by fund
It shall be the intent of the County to set up a contingency account in the General
Fund for operating expenditures. The County shall allow the contingency account to
be set at a minimum of 2% of total operating expenditures, not to exceed funds for
one year of expenditures. In the event of declining Equalized Assessed Valuation
(EAV), the Finance Committee may recommend lowering the contingency account to
an amount less than the 2% minimum requirement. Any recommendation made by
the Finance Committee that is less than 2% of total operating expenditures must be
brought to the full County Board for approval.
d) Guidelines for capital expenditure set-asides