FY 2010-11 Adopted Budget - Volusia County Government

Reserve ProceduresRESERVE PROCEDURESGoal: It is the goal of the County of Volusia to systematically build Emergency Reserves for future fiscalyears until the total of such reserves are a minimum of 5% and a maximum of 10% of budgeted currentrevenues on an annual basis in all tax supported operating funds.1. Beginning with FY 1999-2000, ad valorem taxes received in excess of the 95% collection rate are placedin an Emergency Reserve account until a minimum 5% or a maximum 10% reserve position isachieved.2. To the extent that other funds become available, (i.e. current revenues, expenditure savings, or fundbalance) they may be added to the Emergency Reserve to achieve the 5%-10% reserve position asquickly as possible.3. The County Council must approve all transfer of funds once they are placed in an Emergency Reserveaccount. Recommendations for the use of Emergency Reserves will be through the County Managersrecommended budget that is presented to the County Council on or before July 15 of each year.4. Recommendations by the County Manager for the use of these funds at other times will be to addressemergencies resulting from disasters to the extent that other revenues are not available foremergency expenditures.5. The Emergency Reserve for future fiscal years is not intended to function as a second contingency fundto address unfunded expenditures or over-expenditures related to the normal provision of Countyservices.6. If funds are transferred from the Emergency Reserves as part of the annual budget process, or forunbudgeted emergencies during the fiscal year, and the transfer results in an Emergency Reserve ofless than 5%, to the extent possible, they will be replaced during the following fiscal year.7. The County Council and/or County Manager may impose this reserve policy for non-tax supportedfunds, as deemed appropriate.Volusia County Section J - 6