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Resolution - 5/07 - Financial Policies
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Resolution - 5/07 - Financial Policies
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Board of Commissioners
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Fund Balance <br />• <br />• The County will maintain as a floor an available fund balance equal to 14% of the General <br />Fund budget at the end of each fiscal year; however, the County will strive to reach a target <br />of 18 %. <br />• General Fund balances in excess of target levels will be transferred to capital reserve <br />funds to provide equity resources to fund the County's capital improvement plan. <br />Competitive Employment <br />In order to recruit and retain the most qualified employees while ensuring fairness and non- <br />discrimination, Lee County will commit to conducting a comprehensive compensation and <br />classification study every five years. The study shall be based on the complexity and <br />relative worth of each job as well as an extensive market comparability analysis which <br />identifies competitive pay rates for jobs similar in content to those of the County in the labor <br />market in which we compete for our labor supply. <br />In an effort to maintain competitive rates of pay the County will strive to make annual cost <br />of living adjustments for all employees based on the Consumer Price Index for Urban <br />Wage Earners, Southern Region, Average of All Groups. <br />Tax rate <br />• In an effort to stabilize the County's tax rate, the Board of Commissioners will adopt a tax <br />rate that considers the succeeding four years' anticipated expenditures and will strive not <br />to change the rate until the next revaluation. <br />• • The Board of Commissioners prefers to limit the growth of the annual operating budget to <br />an amount which can be accommodated by growth in the tax base as well as other local <br />state and federal revenues, without a tax rate increase, whenever possible. <br />• In an effort to stabilize the County's tax rate, the County will strive to develop and annually <br />review projections of revenues, expenditures and fund balance for the next five years. <br />Longer range projections should be developed as necessary. <br />• In an effort to stabilize the County's tax rate, all grant funded positions will be reviewed <br />annually to verify continuation of funding. If grant funds are no longer available for a <br />position, the position will be terminated unless a non -tax related source of revenue is <br />provided to cover the cost of the position. <br />Adopted this 7` day of May, 2007. <br />j <br />Robert T. Reives, Chairman, Finance Committee <br />Robert H. Brown, Chairman, <br />Board of Commissioners <br />ATTEST: <br />* 46 Ga n I M. Lee, Clerk <br />
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