Vader Water Fund 420 Authorizing Cash Flow Loan BEFORE THE BOARD OF COUNTY COMMISSIONERS
LEWIS COUNTY, WASHINGTON
IN THE MATTER OF: RESOLUTION NO 19-371
VADER WATER FUND 420 AUTHORIZING CASH FLOW
LOAN FROM CURRENT EXPENSE FUND NO 001
WHEREAS, the Board of County Commissioners (BOCC) have reviewed information
relating to potential timing differences in operating cash flow and differences between
incurring expenses and receiving anticipated grant revenues, the Vader Water Fund No
420 will be in a negative cash balance, and
WHEREAS, it appears to be in the best public interest to authorize up to $250,000 on
an as needed cash flow loan from Current Expense Fund No 001 to Vader Water Fund
No 420 to cover the projected negative cash position until anticipated operating and
grant revenues are received
NOW THEREFORE BE IT RESOLVED that cash up to $250,000 be transferred from
unencumbered Current Expense Funds to the Vader Water Fund No 420 by the
Treasurer's Office and said transfer shall be considered a loan from Current Expense
Fund No 420 That said loan shall be repaid, as the anticipated revenues are received,
provided adequate cash balance remains in the Vader Water Fund No 420 to cover
subsequent period expenses, and that there shall be 3 25% interest charged given the
cash is to cover expenses which may legally be allocated from the Current Expense
fund This loan will terminate on December 31, 2021
DONE IN OPEN SESSION this 9th day of December, 2019
APPROVED AS TO FORM BOARD OF COUNTY COMMISSIONERS
Jonathan Meyer, Prosecuting Attorney LEWIS COUNTY, WASHINGTON
Eric Eisenberg Robert C Jackson
By Eric Eisenberg, Robert C Jackson, Chair
Chief Civil Deputy Prosecuting Attorney
LINTY,{y.
ATTEST •
ti▪ 6OPRDOF9SyGy. Gary Stamper
';�o1ary Stamper, Vice Chair
i
•
▪ • •
Rieva Lester •'':`.:°��' Edna J Fund
Rieva Lester, Edna J Fund, Commissioner
Clerk of the Lewis County Board of County
Commissioners
BOCC AGENDA ITEM SUMMARY
Resolution: 19-371 BOCC Meeting Date: Dec 9, 2019
Suggested Wording for Agenda Item: Agenda Type: Deliberation
Vader Water Fund 420 Authorizing Cash Flow Loan from Current Expense Fund No 001
Contact: Rose Williams Phone: 360-740-2671
Department: PW - Public Works
Description:
The Board of County Commissioners have reviewed information relating to reimbursement basis
grants and the potential timing differences in operating cash flow and differences between
incurring expenses and receiving anticipated grant revenues, the Vader Water Fund No
420 will be in a negative cash balance
Approvals: Publication Requirements:
Publications:
User Status
PA's Office Approved
Additional Copies
Tina Hemphill, PW, Robin Saline, PW, Rose Williams, PW, Betsy Dillin, PW