Guilford County
File #: 2016-429    Version: 1 Name:
Type: Budget Amendment Status: Passed
File created: 11/14/2016 In control: Board of Commissioners
On agenda: 12/15/2016 Final action: 12/16/2016
Title: ESTABLISH BUDGET AND ASSIGNED FUND BALANCE FOR THE TRANSITION OF COOPERATIVE EXTENSION ADVISORY ACCOUNT FUNDS
Attachments: 1. Updated Accounting Structure.pdf, 2. Updated Accounting Structure.pdf
TITLE
Title
ESTABLISH BUDGET AND ASSIGNED FUND BALANCE FOR THE TRANSITION OF COOPERATIVE EXTENSION ADVISORY ACCOUNT FUNDS
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SPONSOR
Sponsor
Karen Neill (Debra Fuller)
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BACKGROUND
Background
Historically, within Cooperative Extension, an advisory account was maintained separate from their official budge to track revenue and expenses for each program area individually, and to allow extension agents the flexibility to spend program specific revenue as needed across fiscal years. This practice was adopted by most counties throughout the state, and internal controls were put in place to ensure the funds were properly handled and audited. Recently, the state has strongly advised counties to establish budgets for this purpose and track these funds in-house. This amendment is the first step in that process. Once a budget is established for each program area (Agriculture, Family and Consumer Science, 4H, and the Shared Use Kitchen), we will begin processing all expense and revenue through the Cooperative Extension budget and eliminate the advisory account.

In addition to establishing a budget for each program area, we are asking that an assigned fund balance be established for Cooperative Extension program revenue. This will allow the county to formally commit unexpended program specific revenue to Cooperative Extension year-over-year.
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BUDGET IMPACT
Budget Impact
Budget Ordinance Amendment
General Fund
$27,560 Increase in User Charges
$20,400 Increase in Other Revenues
$47,960 Increase in Appropriation to Cooperative Extension Service
NO ADDITIONAL COUNTY FUNDS REQUIRED
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REQUESTED ACTION
Requested Action
Approve the appropriation of $27,560 of User Charges, $20,400 of Other Revenues, and increase the FY 2016-17 Cooperative Extension Service appropriation by $47,960 to allow for the transition of advisory account funds, and create an assigned fund balance for Cooperative Extension programs (Agriculture, Family and Consumer Science, 4H...

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