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• <br /> Proposed Amendment <br /> Replace Section d. language with the following language: <br /> The reserve funds in excess of 42.5%will be transferred to the General Capital <br /> Improvement Fund. The portion of the transfer that represents an unused General <br /> Fund surplus from the prior year will be available for use by the General Capital <br /> Improvement Fund. The remainder of the balance transferred will only be <br /> available for future transfer back to the General Fund, emergency General Fund <br /> expenditures, or for levy adjustments which would have the same effect. <br /> The above amendment will re-establish the prior policy of using the General Fund <br /> • surplus to help support the GOP. The surplus transferred will be limited to the prior <br /> year's audited surplus less any amount of that surplus designated for use in the upcoming <br /> budget year. This will increase the amount available in the 2008 GCIP Budget by <br /> $255,238, see documents attached as Exhibit B. <br /> Finally, this amendment will not impact our goal of a 42.5%reserve balance at the <br /> beginning of the fiscal year. This goal is consistent with the original intent to be mid- <br /> range of the State Auditor's suggested range of reserve balances equal to 35-50% of <br /> current expenses. <br /> • <br />