27.05.2011
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In the event of conflicting policies, the more restrictive policy shall be enforced. Tax (Revenue) Anticipation Notes - Where their use is judged by the Library/Clerk staff, bond counsel and financial advisor to be prudent and advantageous to the Library District, the District may choose to issue Tax or Revenue Anticipation Notes as a source of interim operating financing. Other - Where their use is judged by the Library/Clerk staff, bond counsel and financial advisor to be prudent and advantageous to the Library District, the District may choose to use other short-term financing tools such as a line of credit or pooled commercial paper programs. The Florida Constitution requires that long-term debt pledged by the full faith and credit of the Library District can only be approved by voter referendum. For debt issues to be placed on the ballot, the Library Governing Board must approve both the capital and financing proposals. There is no statutory limit on the amount of debt and corresponding tax levy the voters can approve. It is the Library District’s own policy to manage debt within the guidelines identified in these policies. The Library Director has implemented debt management policies throughout all funds. The Library Director and Finance Director will be responsible for coordinating all debt issuance for the Library District including the use of short-term and long-term financing. The Library Director and Finance Director allegra side effects dry eyes will be responsible for determining reasonable debt allegra side effects dry eyes levels for the Library District as part of the annual budget process and capital improvement plan. Each year, the Library Director and Finance Director will review the Library District’s ability to absorb and pay for long-term obligations (including new bond issues). The review process will include recommendations on how much new debt allegra side effects dry eyes can be afforded by the Library District. Recommendations will be based on an analysis of the following measures: i. Total debt service on “Direct Debt” (debt payable from general revenues; including GO Bonds, capital leases, and notes payable) measured as a percent of current General Fund revenue. Debt service costs on “Direct Debt” allegra side effects dry eyes will not exceed 5% of total General Fund revenue. Total debt service on “Direct Debt” measured as a percent of allegra side effects dry eyes General Fund operating expenditures. Debt service costs on “Direct Debt” will not exceed 10% of allegra side effects dry allegra d 24 hour generic eyes total General Fund operating expenditures. Total debt (allegra side effects dry eyes includes “Direct Debt” and “Revenue Debt” as a percent of allegra side effects dry eyes assessed value. Total net direct indebtedness allegra side effects dry eyes will not exceed 3% of the full valuation of taxable allegra side effects dry eyes property in the County. Total debt (includes “Direct Debt” and “Revenue Debt”) per capita. Total allegra side effects dry eyes net direct indebtedness will not exceed allegra side effects dry eyes $500 per capita. Per capita debt as a percentage of allegra side effects dry eyes per capita income. Per capita debt will allegra side effects dry eyes not exceed 5% of per capita income. The terms “Direct Debt” and “Revenue Debt” used above are defined in GFOA’s Recommended Practice for Debt Management Policies as follows: Direct Debt – Debt payable from general revenues, including capital leases allegra side effects dry eyes Revenue Debt – Debt payable from a specific allegra side effects dry eyes pledged revenue source Inter-fund Loan Policy Inter-fund allegra side effects dry eyes Loan Policies allegra over the counter strength are intended to provide parameters and allegra side effects dry eyes guidance for the management of loans between funds. Inter-fund loans may be necessary to provide adequate cash flow for reimbursable grants and contractual allegra side effects dry eyes obligations with deferred revenues. Repayment of any loan shall not exceed one year without approval of allegra side effects dry eyes the Library Governing Board. Loans outstanding at fiscal year end will be reported to the Library Governing Board. Any fund may receive a total loan of up to $50,000 with approval from the allegra side effects dry eyes Library Director, Finance Director, and Clerk of the Courts. Any fund may receive a total loan in excess of $50,000 with the approval from the Library Governing Board. Contingency Reserves/Cash Carry Forward Balances Contingency reserves are established to provide for the following: Funding for unexpected increases in the cost of providing existing levels of service; Temporary and nonrecurring funding for unanticipated projects; Funding of a local match for public or private grants; Funding to off-set losses in revenue caused by actions of other governmental bodies and/or unanticipated economic downturns; Funding allegra fulton age to accommodate unanticipated program mandates from other governmental bodies; Funding for emergencies, whether economic, natural disaster or act of war; Budgeted Reserve for Contingency 1. Reserve for contingency requests must be approved by the Library Governing Board. The Board will use the procedures and evaluation criteria set forth in this policy. Such requests will be evaluated to insure consistency with other Board policy; the urgency of the request; the scope of services to be provided; the short and long-term fiscal impact of the request; a review of alternative methods of funding or providing the services; a review for duplication of services with other agencies; a review of efforts to secure non-Library District funding; a discussion of why funding was not sought during the normal budget cycle; and a review of the impact of not funding or delaying funding to the next fiscal year.
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