RESOLUTION

A RESOLUTION TO APPROVE FINANCE COMMITTEE POLICIES FC-3 (COUNTY FUNDS STRUCTURE AND USES) AND FC-4 (DEBT ISSUANCE AND MANAGEMENT)

            WHEREAS, the Fauquier County Board of Supervisors has adopted a series of financial policies to govern the conduct of business decisions in the County government; and

WHEREAS, the Finance Committee has directed staff to develop proposals that would facilitate the accumulation of funding for capital projects; and

WHEREAS, the proposed Finance Committee Policy FC-3 defines the County funds structure and establishes certain additional funds to administer asset replacement and management of debt service payments; and

WHEREAS, the proposed Finance Committee Policy FC-4 defines the County’s debt issuance and management policies as previously established by the Board of Supervisors by resolution on November 17, 2003, and subsequently amended on October 13, 2005; and

WHEREAS, the Finance Committee unanimously recommended the proposed policies for the Board of Supervisors’ consideration; and

WHEREAS, staff provided an overview of the proposed policies at the Board of Supervisors’ December 10, 2009, work session; now, therefore, be it

            RESOLVED by the Fauquier County Board of Supervisors this 10th day of December 2009, That approval be, and is hereby, granted for proposed Finance Committee Policy FC-3 (County Funds Structure and Uses) and FC-4 (Debt Issuance and Management) as presented on the attachments. 

                                                     

                                                                                      A Copy Teste

 

                                                                                    Paul S. McCulla
                                                                                    Clerk to the Board of Supervisors

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