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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />AGENDA CATEGORY: <br />Consent Agenda <br />JULY 17, 2018 <br />6:30 P.M. <br />SUBJECT: <br />County Manager - Update to Reserve Policy for Cabarrus County <br />BRIEF SUMMARY: <br />County staff is in the process of reviewing all current policies in place and <br />will be bringing updates before the Board of Commissioners as needed. <br />The first policy to be presented is the Reserve Policy. Susan Fearrrington <br />and Pam Dubois attended the Government Finance Officers Conference <br />and spoke to each rating agency in regard to the reserve policy that the <br />County currently has in place. One item staff felt that was missing based <br />on research, was a replenishment section, should the County ever have to <br />use fund balance and go below the 15% policy level. Attached are the <br />changes recommended for approval to update the policy. <br />REQUESTED ACTION: <br />Motion to adopt policy updates effective July 1, 2018. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Pamela S Dubois, Senior Deputy County Manager <br />Susan Fearrington, Finance Director <br />BUDGET AMENDMENT REQUIRED: <br />No <br />COUNTY MANAGER'S RECOMMENDATIONS/COMMENTS: <br />F-3 Page 41 <br />