06-17-2003Minutes - Laserfiche WebLink

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-' ~ 03~102 Richard Hartman arrived at the meeting at 9: 1 0 a.m. COUNTY ATTORNEY a, CONSIDER & APPROVE RESOLUTION ESTABLISHING A BUILDING AND LAND RESERVE FUND - County Attorney Jerry Janulewicz stated that the audit committee met to review the equipment improvement reserve transfers and approve them. The normal process for the equipment and improvement reserve funds it that after a period of five years, and the money has not been used, it has to be returned to the general funds. For fixed assets and real estate improvements it would be more efficient to hold these for a longer period of time because they could be on going or long term projects. After discussion the audit committee recommended to create the building and land reserve fund. This resolution will establish the fund before the end of the fiscal year and they can come back later to adopt rules how it will be used. Lancaster stated that the committee felt this would provide better planning for larger capital improvements. Arnold made a motion and Humiston seconded to approve Resolution #03-0040 establishing a building and land improvement reserve fund. Arnold, Eriksen, Hartman, Humiston, Jeffries, Lancaster and Rye all voted yes and none voted no. Motion carried. RESOLUTION #03- () OLiO A RESOLUTION ESTABLISHING A BUILDING AND LAND IMPROVEMENT RESERVE FUND BE IT RESOLVED that a separate county fund entitled "Building and Land Improvement Reserve Fund" be hereby established. The purpose of said fund shall be for the provision of a reserve fund for anticipated and unanticipated expenditures associated with the ownership of land and building capital assets including, but not limited to, maintenance, repairs, replacements, improvements, and development. Credits to and expenditures from said fund shall be subject to such resolutions and rules as may be subsequently adopted by the County Board of Supervisors of Hall County. Resolution moved by Supervisor ~ () U ~ { V'\.4 \d Seconded by Supervisor ~o b \-\ LL""'~ ~ \-on Vote: Supervisor Arnold: Supervisor Eriksen: Supervisor Hartman: Supervisor Humiston: Supervisor Jeffries: Supervisor Lancaster Supervisor Rye: For L; Against _; Abstained _; Not Present _' For L; Against _; Abstained _; Not Present _' For l; Against _; Abstained _; Not Present _' For X; Against ; Abstained ; Not Present . - - - - For~; Against _; Abstained _; Not Present _' For -X-; Against _; Abstained _; Not Present_. For L; Against _; Abstained _; Not Present _' 3