1999-727-Ordinance No. 99-015 Recorded 5/14/1999VOL: CJ1999 PAGE: 727
RECORDED DOCUMENT
STATE OF OREGON
COUNTY OF DESCHUTES
*CJ1999-727 *Vol -Page Printed: 05/18/1999 19:24:25
DO NOT REMOVE THIS CERTIFICATE
(This certificate constitutes a part of the original instrument in accordance with
ORS 205.180(2). Removal of this certificate may invalidate this certificate and affect
the admissibility of the original instrument into evidence in any legal proceeding.)
I hereby certify that the attached instrument was received
and duly recorded in Deschutes County records:
DATE AND TIME:
DOCUMENT TYPE:
May. 14,1999; 12:57 p.m.
Ordinance (CJ)
NUMBER OF PAGES: 2
MARY SUE PENHOLLOW
DESCHUTES COUNTY CLERK
REVIEW AS TO FORM
CO E R VIEW COMM.
7J7
REVIEWED r
LEG {,L j
BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESOINf&OCS A4,7OREGON
!•� �Ut i ", i LLCW
COUNTY CLERK
An Ordinance Adding Section 4.02,
Budget, to the Deschutes County Code.
ORDINANCE NO. 99-015
THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY, OREGON,
ORDAINS as follows:
Section 1. ADDING. Deschutes County Code Section 4.02, Budget, set forth in Exhibit
"A," attached hereto and by this reference incorporated herein is hereby added to Title 4 of the
Deschutes County Code.
DATED this 12th day of May, 1999.
ATTEST:
Recording Secretary
BOARD OF COUNTY COMMISSIONERS OF
DESCHUTES COUNTY, OREGON
PAGE 1 OF 1 - ORDINANCE NO. 99-015 (5/12/99)
EXHIBIT "A"
Chapter 4.02. BUDGET
4.02.010. Definition - average daily
4.02.010 Definition - average daily
balance.
"Average daily balance" means the average
of each daily budget fimd balance for each
budget month.
(Ord 99-015 § 1, 1999)
4.02.020 Definition - budget.
"Budget" means the adopted fiscal year
budget for Deschutes County.
(Ord. 99-015 § 1, 1999)
4.02.030 Definition — daily balance.
"Daily balance" for any budget fund means
the budget fiord revenues received and posted
less expenditures entered in the budget fiord
as of 5:00 p.m. on any business day.
(Ord. 99-015 § 1, 1999)
4.02.040 Definition - fiscal year.
"Fiscal year" is July 1 of a calendar year to
June 30 of the next following calendar year.
(Ord. 99-015 § 1, 1999)
4.02.050 Definition - negative daily
balance.
"Negative daily balance" means the fund
balance on any day for which expenditures
entered in the budget fiord exceed the budget
fund revenues received and posted as of 5:00
p.m. on the same business day.
(Ord. 99-015 § 1, 1999)
4.02.060 Definition - Pool allocation.
A "pooled allocation" takes place when
budget funds are commingled for investment
purposes. Each fiord receives interest based
on the computed average daily balances for
the month m proportion to the total amount of
interest earned for the month, plus charges
imposed on negative fiord balances at the
monthly interest rate used to distribute the
pooled interest.
(Ord. 99-015 § 1, 1999)
4.02.070 Negative fund balances
authorized.
The Finance Director is authorized to allow
negative budget fund balances under the
following circumstances without a board
resolution authorizing an inter -fund loan:
A. Revenues necessary to cover a negative
fund balance are anticipated, but not yet
received;
B. The expenditures creating the negative
fund balance do not exceed the
appropriations in the approved budget;
C. The negative fund balance is expected to
be cleared at or prior to the end of fiscal
year.
(Ord. 99-015 § 1, 1999)
4.020.080 Interest.
Any budget fiord with a negative average
daily balance shall pay interest to all funds
which have a positive find balance by
calculating an interest charge on the negative
cash balance. The computed interest charge
shall be allocated to the monthly interest
distributed in the pooled allocation.
(Ord. 99-015 § 1, 1999)
PAGE 1 - EXHIBIT "A" TO ORDINANCE 99-015 (5/12/1999)
balance.
4.02.020.
Definition - budget.
4.02.030.
Definition — daily balance.
4.02.040
Definition - fiscal year.
4.02.050
Definition - negative average
daily balance.
4.02.060
Definition - pool allocation.
4.02.070
Negative fund balances
authorized.
4.02.080
Interest.
4.02.010 Definition - average daily
balance.
"Average daily balance" means the average
of each daily budget fimd balance for each
budget month.
(Ord 99-015 § 1, 1999)
4.02.020 Definition - budget.
"Budget" means the adopted fiscal year
budget for Deschutes County.
(Ord. 99-015 § 1, 1999)
4.02.030 Definition — daily balance.
"Daily balance" for any budget fund means
the budget fiord revenues received and posted
less expenditures entered in the budget fiord
as of 5:00 p.m. on any business day.
(Ord. 99-015 § 1, 1999)
4.02.040 Definition - fiscal year.
"Fiscal year" is July 1 of a calendar year to
June 30 of the next following calendar year.
(Ord. 99-015 § 1, 1999)
4.02.050 Definition - negative daily
balance.
"Negative daily balance" means the fund
balance on any day for which expenditures
entered in the budget fiord exceed the budget
fund revenues received and posted as of 5:00
p.m. on the same business day.
(Ord. 99-015 § 1, 1999)
4.02.060 Definition - Pool allocation.
A "pooled allocation" takes place when
budget funds are commingled for investment
purposes. Each fiord receives interest based
on the computed average daily balances for
the month m proportion to the total amount of
interest earned for the month, plus charges
imposed on negative fiord balances at the
monthly interest rate used to distribute the
pooled interest.
(Ord. 99-015 § 1, 1999)
4.02.070 Negative fund balances
authorized.
The Finance Director is authorized to allow
negative budget fund balances under the
following circumstances without a board
resolution authorizing an inter -fund loan:
A. Revenues necessary to cover a negative
fund balance are anticipated, but not yet
received;
B. The expenditures creating the negative
fund balance do not exceed the
appropriations in the approved budget;
C. The negative fund balance is expected to
be cleared at or prior to the end of fiscal
year.
(Ord. 99-015 § 1, 1999)
4.020.080 Interest.
Any budget fiord with a negative average
daily balance shall pay interest to all funds
which have a positive find balance by
calculating an interest charge on the negative
cash balance. The computed interest charge
shall be allocated to the monthly interest
distributed in the pooled allocation.
(Ord. 99-015 § 1, 1999)
PAGE 1 - EXHIBIT "A" TO ORDINANCE 99-015 (5/12/1999)