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gtr <br /> COUNTY OF HAWAII STATE OF HAWAII <br /> OFM►'� <br /> BILL NO. 26 <br /> (DRAFT 2) <br /> ORDINANCE NO. 11 37 <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 Hawai`i 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 Hawai`i 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 /> (b) 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 />