HomeMy WebLinkAboutResolution 1998 (07) RESOLUTION SEGREGATING SURPLUS FUNDS
RESOLUTION NO. 1 1 `q
ST. CROIX COUNTY, WISCONSIN
WHEREAS, the Health and Human Services Fund (excluding Nursing Home) has a current estimated
surplus of $1,582,785.55; and
WHEREAS, this surplus was generated through efficient management of programs and changes in
State policy regarding the funding of long term care; and
WHEREAS, the County's auditors have gone on record stating that $200,000.00 - $300,000.00 is a
reasonable surplus fund balance for Health and Human Services; and
WHEREAS, it is in the best interest of the taxpayers that a plan for the use of excess surplus funds be
established;
THEREFORE, be it resolved by the St. Croix County Board of Supervisors that $1,000,000.00 be
transferred from the Health and Human Services "undesignated unreserved account" to a new interest -
bearing escrow account for the purposes of making 1983 bond issue principal payments which are due in
the years 1999 and 2000 and to be applied against future Health and Human Services budgets.
Dated this 16 day of June, 1998.
Offered by: Finance Committee
NEGATIVE AFFIRMATIVE
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STATE OF WISCONSIN
COUNTY OF ST. CROIX
I, Sue E. Nelson, St Crolx
County Clerk. 00 HEREBY CERTIFY that
the re and cadet M/
adopted by the County and of Sa ` peerviisor .
at their meeting held
Sue E. Nelson, St. Croix County Clerk