The County Council, hereinafter referred to as “the Council”, does hereby acknowledge the following, as set forth in I.C. 36-1-8-5.1.
(A) There is hereby established a “Rainy Day Fund”, to receive transfers of unused and unencumbered funds under state law and any other unused and unencumbered county funds.
(B) Not more than 10% of the fiscal year’s total budget shall be transferred into the Rainy Day Fund.
(C) The Rainy Day Fund shall be subject to the same appropriation process as other funds that receive tax money.
(D) The County Council hereby intends to utilize its decision-making power regarding fiscal affairs and set priorities for allocation and expenditure of the Rainy Day Fund as deemed necessary to best serve the residents of the county.
(Council Ord. 2007-1, passed 4-11-2007)