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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />JANUARY 18, 2011 <br />6:30 P.M. <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />Finance - Request to Waive Fund Balance Transfer to Capital Reserve <br />Fund per Board Policy for FY 2011 <br />BRIEF SUMMARY: <br />Upon comp ' ietion of the County's annual financial audit, any undesignated <br />fund balance above 15 percent is transferred to the capital reserve fund in <br />accordance with the Board's policy. However, a waiver of this policy is <br />requested for FY 2011 since the economy has not improved. The excess <br />fund balance will be used as needed, to balance the annual budget for the <br />next several years. <br />REQUESTED ACTION: <br />Motion to approve waiver to Board Fund Balance Policy for FY 2011. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Pamela S. Dubois, Deputy County Manager <br />BUDGET AMENDMENT REQUIRED: <br />No <br />COUNTY MANAGER'S RECOMMENDATIONS /COMMENTS: <br />This item was approved by the Board for inclusion on the Agenda as a <br />Consent item. <br />Page 98 <br />F -4 <br />