§ 2-215. General policies.

(a)

The county will finance all current expenditures with current revenues. The county shall endeavor to not use shortterm borrowing to finance current operational requirements but is not prohibited by this policy from using shortterm borrowing to meet operating budget requirements.

(b)

All governmental funds, except capital project funds, are subject to the annual budget process. Capital projects will be subject to project length budgets.

(c)

All budgets will be adopted on a basis of accounting consistent with Generally Accepted Accounting Principles (GAAP). Revenues will be recognized when they become measurable and available and expenditures are charged against the budget when they become measurable, a liability has been incurred, and the liability will be liquidated with current resources. Revenues will be recognized as available at the end of the year using the 60-day rule. Expenditures will be recognized at the end of the fiscal year if incurred during the fiscal year and paid with current resources. All expenditures for the purchase of inventory will be recognized using the purchase method. If the county establishes a proprietary fund, that fund shall use the consumption and FIFO method of expenditure recognition for inventories.

(d)

The budget must be balanced for all budgeted funds. Total anticipated revenues and other resources available including unreserved fund balance must equal total estimated expenditures for each fund.

(e)

The county will strive to integrate performance measurement and objectives and productivity indicators within the budget.

(f)

The county will maintain a budgetary control system to ensure adherence to the budget and will prepare timely financial reports comparing actual revenues expenditures and encumbrances with budgeted amounts.

(g)

All operating budget appropriations will lapse at year end. Encumbrances can be reappropriated in the next fiscal year by a budget amendment. Capital budget appropriations under the capital improvement program shall be appropriated with project-length balanced budget for major projects.

(h)

The operating budget will provide for adequate maintenance and operation of capital equipment and facilities and allocate funds to the capital budget for their orderly replacement.

(i)

The county will pay bills on the second Monday of each month. Department heads and elected officials are directed to submit payment requests within these timeframes. The county administrator shall, however, have the authority to issue special checks up to a maximum of $2,500.00.

(Code 2002, § 1-1-2)

State law reference

Duty to adopt and to operate under annual balance budget, O.C.G.A. § 36-81-3.