Authorizing cash-flow loan from Current Expense Fund No. 0010 to Cowlitz River Basin Subzone Fund 1260. BEFORE THE BOARD OF COUNTY COMMISSIONERS
LEWIS COUNTY, WASHINGTON
IN THE MATTER OF: RESOLUTION NO. 22-014
AUTHORIZING CASH-FLOW LOAN FROM
CURRENT EXPENSE FUND NO. 0010 TO COWLITZ
RIVER BASIN SUBZONE FUND 1260
WHEREAS, the Board of County Commissioners (BOCC) has reviewed information
relating to reimbursement basis grants and the potential timing difference
between incurring project expenses and receiving anticipated grant revenues; and
WHEREAS, it appears the Cowlitz River Basin Subzone Fund No. 1260 will be in a
negative cash balance during the Federal Emergency Management Agency
(FEMA) floodplain study of the Upper Cowlitz Basin; and
WHEREAS, it appears to be in the best public interest to authorize up to
$650,000 on an as-needed, cash-flow basis loan from Current Expense Fund No.
0010 to Cowlitz River Basin Subzone Fund No. 1260, based on an awarded grant
funded project, to cover the projected negative cash position until anticipated
grant revenues are received during the project.
NOW THEREFORE BE IT RESOLVED that cash up to $650,000 be transferred
from unencumbered Current Expense Funds to the Cowlitz River Basin Subzone
Fund No. 1260 based on awarded grant funded projects, by the Treasurer's Office,
and said transfer shall be considered a loan from Current Expense to said Fund
No. 1260. That said loan shall be repaid, as the anticipated revenues are received,
provided adequate cash balance remains in the Cowlitz River Basin Subzone Fund
No. 1260 to cover subsequent period expenses for the FEMA floodplain study of
the Upper Cowlitz Basin. This loan will terminate on December 31, 2022, or earlier
if the project is completed.
DONE IN OPEN SESSION this 18th day of January, 2022.
Page 1 of 2 Res. 22-014
APPROVED AS TO FORM: BOARD OF COUNTY COMMISSIONERS
Jonathan Meyer, Prosecuting Attorney LEWIS COUNTY, WASHINGTON
Amber Smith Lindsey R. Pollock, DVM
By: Amber Smith, Lindsey R. Pollock, DVM, Chair
Deputy Prosecuting Attorney
ATTEST: •▪•'�°""TY"9s•. Sean D. Swope
Sean D. Swope, Vice Chair
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•• NtycotejRieva Lester •.;Sti-___; F. Lee Grose
Rieva Lester, F. Lee Grose, Commissioner
Clerk of the Lewis County Board of
County Commissioners
Page 2 of 2 Res. 22-014
BOCC AGENDA ITEM SUMMARY
Resolution: BOCC Meeting Date: Jan. 18, 2022
Suggested Wording for Agenda Item: Agenda Type: Deliberation
Authorizing cash-flow loan from Current Expense Fund No. 0010 to Cowlitz River Basin Subzone
Fund 1260
Contact: Tina Hemphill Phone:
Department: PW - Public Works
Description:
Authorizing cash-flow loan from Current Expense Fund No. 0010 to Cowlitz River Basin Subzone
Fund 1260
Approvals: Publication Requirements:
Publications:
User Status
Arny Davis Pending
PA's Office Pending
Rodney Reynolds Pending
Additional Copies: Cover Letter To:
Rodney Reynolds, Arny Davis, Grace Jimenez,
Josh Metcalf, Tina Hemphill