HomeMy WebLinkAboutord1998-067WHATCOM COUNTY COUNCIL AGENDA BILL
NO. 98 -336
CLEARANCES
Initial
Date
Date Received in Council Office
Agenda Date
Assigned to:
riginator:
9 -15 -98
Introduction
Division Head.
4x
$/8
9 -29 -98
Finance / Council
Dept Head:
Prosecutor
/I
Purchasing/Budget:
$� 3
Executive:
SUBJECT:
An Ordinance Amending Ordinance 97 -073 Authorizing Excess Cash in Certain Funds to Benefit the Same
ATTACHMENTS:
Proposed Ordinance
Related County Contract #:
Should Clerk schedule a hearing: NO / / YES /_/ Requested Date:
SUMMARYSTATEMENT.
his ordinance adds the Whatcom County Drug Fund to the list of
funds authorized for investment to their own benefit. Federal
regulations require that interest earned from the investment of drug
seizure money benefit the same.
Ordinance & Resolution
keep down our copying costs, indicate
a
receive a copy after Council action.
Distribution Request
only those who must
List names to the right.
ADS Facilities Management
ADS Finance
Brad Bennett
ADS Human Resources
ADS Info Services
Assessor
Auditor
Cooperative Extension
District Court
Executive
Dave Wareing,
Francine Kincaid
Health
RECOMMENDED ACTION:
Pass
Hearing Examiner
Jail
Juvenile
Parks
Planning
COUNCIL ACTION TAKEN. •
1998 - 336 9/15/98: Introduced
9/29/98: Adopted 7 -0 Ord. #98 -067
Prosecutor
Kathy Walker
Public Works
Sheriff
Superior Court
Treasurer
Barbara Cory
Other
Ordinance or Resoluln Number
(this item): •
J: tA(,P- Z)A BIL -IWC
SPONSORED BY: Consent
PROPOSED BY: Executive
INTRODUCTION DATE: 9/15/98
ORDINANCE NO. 98 -067
AN ORDINANCE AMENDING ORDINANCE 97 -073
AUTHORIZING EXCESS CASH IN CERTAIN FUNDS TO BENEFIT THE SAME
WHEREAS, it has been determined that only certain County funds may have their excess
cash invested to the benefit of the respective fund; and,
WHEREAS, interest earnings on excess cash represent the third largest source of revenue for
the Current Expense Fund; and,
WHEREAS, certain funds have been closed or consolidated into other funds; and,
WHEREAS, it is a requirement of the federal government that when receiving drug seizure
money that it be invested to its own fund's benefit; and,
WHEREAS, it is necessary to clarify which funds can have excess cash invested for their
own benefit.
NOW, THEREFORE, BE IT ORDAINED by the Whatcom County Council that
Ordinance 97 -073 is amended as follows:
The County Treasurer is hereby authorized to invest excess cash from the following funds for
their own benefit:
Fund #
Fund Description
Manager
1
P. e -
169
Flood Control Zone District Fund
P.W. Director
180
Lake Management District No. 1 Fund
P.W. Director
202
RID Debt Service Fund
Treasurer
190
Road Improvement Districts Fund
Treasurer
325
Sewer Construction Fund
P.W. Director
401
Solid Waste Management Fund
P.W. Director
Page 1
ADOPTED this 29 day of September , 1998.
�. C • ��avis, Council
APPROVED AS TO FORM:
Civil Deputy Pro e for
WHATCOM COUNTY COUNCIL
WHATCOM COUNTY, WASHINGTON
Robert A. Imhof, Chair
(� Approved () Defied
Pete Kremen, Executive
Date: 4O -,5- '
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