(a) Subject to subsection (b) of this section, the board of county commissioners may increase appropriations and expend the increased appropriations.
(b) Prior to increasing appropriations and expending the increased appropriations, the board of county commissioners shall:
(1) Establish, by ordinance, criteria for increasing appropriations and expending the increased appropriations; and
(2) Require the increase in appropriations to be derived from:
(i) The committed general fund balance required under § 2-7-1(a)(2) of this article; or
(ii) The bond rating enhancement reserve established under § 2-7-10 of this article.
(c) If the committed general fund balance required by § 2-7-1 (a)(2) is appropriated and expended by the county governing body, the committed fund balance shall be replenished by the end of the third fiscal year after appropriation to meet the 5 percent for fiscal year 2016, 6 percent for fiscal year 2017, 6.5 percent for fiscal year 2018, 7 percent for fiscal year 2019 through fiscal year 2021, and 8 percent for fiscal year 2022 and thereafter requirement of this committed fund balance.
(2004, Chapter 350, § 1; 2012, Chapter 689, § 1; Bill No. 18-01, 4-3-2018; Bill No. 22-11, 6-21-2022)