HomeMy WebLinkAbout810083.tiff RESOLUTION
RE: IMPREST FUND FOR THE WELD COUNTY FAIR.
WHEREAS, the Board of County Commissioners of Weld County, Colorado,
pursuant to Colorado Statute and the Weld County Home Rule Charter, is vested
with the authority of administering the affairs of Weld County, Colorado, and
WHEREAS, the Board of County Commissioners of Weld County, Colorado, on
March 4, 1970, passed a resolution creating the Weld County Fair Board which
specified certain organizational and administrative procedures, and
WHEREAS, Paragraph 13 of the resolution dated March 4, 1970, cited that
"all expenses incurred by the said Weld County Fair Board shall be paid by
County warrants upon proper vouchers to the Board of County Commissioners of
the County of Weld as provided by law", and
WHEREAS, when Anderson & Whitney audited Weld County in 1977, they re-
commended the creation of an imprest fund to accommodate the payment of fair
vouchers because of the need to expedite payment during the fair, and
WHEREAS, upon the auditor's recommendation, such an imprest fund was
created and made operational and has been audited annually since, and
WHEREAS, no resolution of the Board of County Commissioners authorizing
such imprest fund exists in current records, the auditors and Director of
Finance and Administration recommend formal authority for the imprest fund.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado that they, nunc pro tunc, authorize the imprest fund for
the Weld County Fair Board to conduct their business affairs with the following
provisions:
1. The imprest fund will operate out of Greeley National Bank checking
account #652-709-100.
2. Three authorized signatures for the imprest fund must be on the account,
of which two must be Weld County Extension Agents, and the third the treasurer
of the County Fair.
3. Two authorized signatures must be on all checks to make them valid
withdrawals.
4. All Weld County Fair transactions will flow through the imprest fund,
meaning both expenses and revenues.
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5. The imprest fund shall maintain an exact balance of FIVE HUNDRED DOLLARS
($500) at year-end that is reflected as a Weld County General Fund asset and any
amount in excess of FIVE HUNDRED DOLLARS ($500) in the balance of the account
at year-end shall be returned to the General Fund to abate the subsidy expense
amount for the current year for the Weld County Fair.
6. The account shall receive only the net county subsidy from the General
Fund which is defined as gross expenses less revenues earned by Weld County
Fair activities.
7. Full accounting of the imprest fund will be maintained by the Weld County
Extension Agent staff and all records shall be open to the public at all times for
examination or audit.
8. The imprest fund shall be audited annually by the independent auditor
engaged by the Board of County Commissioners for the county audit, and an
audit report shall be filed with the Board of County Commissioners and the Weld
County Fair Board annually.
9. The County Fair budget and general ledger accounts shall reflect only
the net county subsidy amount for the fair, as defined above, and the imprest
fund records shall provide the detail account activity for the Weld County
Fair.
BE IT FURTHER RESOLVED by the Board of County Commissioners of Weld County,
Colorado, that Paragraph 13 of the attached resolution dated March 4, 1970, is
hereby rescinded and the above imprest fund is authorized in it's place, nunc
pro tunc to the date of the creation of the imprest fund.
The above and foregoing resolution was, on motion duly made and seconded,
adopted by the following vote on the 13th day of July, A.D. , 1981.
BOARD OF COUNTY COMMISSIONERS
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ATTEST: ",..L:1 ULu3 . j`",,"
Ch Carlson, Chairman
Weld County Clerk and Recorder
and Clerk to the Board ABSENT
Norman Carlson, Pro-Tem
By.
-;Deputy Count Clerk
C. W. Kir
APPROVED AS TO FORM:
o Martin
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County Attorney K. Steinmark
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