MAY 25, 2004

Agenda Item No. 9



Introduced by the Finance Committee of the:



INGHAM COUNTY BOARD OF COMMISSIONERS



RESOLUTION AMENDING THE 2004 BUDGET



RESOLUTION #04-159



WHEREAS, 2003 year end revenue and expense figures are now finalized and 2003 ended with a slight excess of revenues over expenditures; and



WHEREAS, the county's financial reserve policy as set by Resolution 02-17 has been reviewed by the Finance Committee and the Controller; and



WHEREAS, at the beginning of 2004, the contingency account was reduced by $364,498 to offset the reduction in state revenue sharing distribution from the State of Michigan.



THEREFORE BE IT RESOLVED, that the 2004 budget be amended to increase the budgeted use of fund balance in the general fund by $564,498.



BE IT FURTHER RESOLVED, that $364,498 be added back to contingency to restore the funds used to offset the 2004 revenue sharing loss.



BE IT FURTHER RESOLVED, that $200,000 be transferred from the general fund to the public improvements fund in order to maintain the public improvements fund balance at an appropriate level.



FINANCE: Yeas: Grebner, Dedden, De Leon, Thomas, Minter

Nays: None Absent: Lynch Approved 5/19/04