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M tv os <br />COUNTY OF HAWAII STATE OF HAWAII <br />BILL NO. 26 <br />(DRAFT 2) <br />ORDINANCE NO. <br />AN ORDINANCE AMENDING CHAPTER 2 OF THE HAWAII COUNTY CODE 1983 <br />(2005 EDITION, AS AMENDED) BY ADDING A NEW SECTION RELATING TO THE <br />FUND BALANCE. <br />BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: <br />SECTION 1. Purpose. In accordance with Section 10 -10 of the Hawaii County <br />Charter, general appropriations shall lapse at the close of the fiscal year to the extent that the <br />same has not been expended or encumbered. In March 2009 the Governmental Accounting <br />Standards Board issued Statement 54, Fund balance Reporting and Governmental Fund Type <br />Definitions, which establishes definitions for the different types of fund balances and the <br />requirements of the government for reporting those balances beginning June 30, 2011. The <br />purpose of this ordinance is to establish a policy regarding the dates on which the department of <br />finance shall deliver information to the Council relating to the fund balance. Provision of the <br />unassigned fund balance on these dates allows the council the time to evaluate, facilitate <br />recommendations by suggestion, and potentially make policy decisions regarding the annual <br />budget. <br />SECTION 2. Chapter 2, article 4 of the Hawaii County Code 1983 (2005 Edition, as <br />amended) is amended by adding a new section to be appropriately designated and to read as <br />follows: <br />" Section 2 -12. . Fund Balance. <br />(a) Definitions. <br />"Unassigned fund balance" means the residual classification for the general fund <br />and includes all amounts not contained in the other classifications, such as non- <br />spendable, restricted, committed, and assigned fund balances. Unassigned amounts are <br />technically available for any purpose. <br />If a governmental fund has a fund balance deficit, then it shall be reported as a <br />negative amount in the unassigned classification in that fund. Positive unassigned <br />amounts will be reported only in the general fund. <br />(c) The director of finance shall provide the budgetary fund balance and the fund <br />balance designated for a future year, as separate line items, in a written report to <br />