HomeMy WebLinkAbout920494.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
recommended 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, the Fair Board has requested an amendment to the policy of the
Imprest Fund to allow any surplus funds from the Fair to be retained in the
Imprest Fund to enhance the Weld County Fair.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that the policy of the Weld County Fair Imprest Fund be, and
hereby is, authorized as follows:
1. The Imprest Fund will operate out of Affiliated 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 Weld 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.
5. The Imprest Fund shall maintain any year-end cash balance for the
enhancement of future County Fair operations, capital items, or
activities.
6. The account shall receive annually, a County subsidy from the
General Fund which is defined as gross annual expenses less annual
revenues earned by Weld County Fair activities.
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RE: IMPREST FUND - WELD COUNTY FAIR
PAGE 2
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 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 detailed account
activity for the Weld County Fair.
BE IT FURTHER RESOLVED by the Board the abovementioned Resolution dated
July 13, 1981, be, and hereby is, rescinded, and the above policy for the Imprest
Fund be, and hereby is, authorized in its place.
The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following vote on the 15th day of June, A.D. , 1992.
/ D /� /// BOARD OF COUNTY COMMISSIONERS
ATTEST: /I�Yl L/,f WELD COUNTY, COLORADO
Weld County Clerk to the Board
GGe Kenn , Chairman
Deputy Clerk t6 the Board Constance L. Harbert, Pro-Tee
APPROVED AS TO FORM:
/ C. W. Kir
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Cottorne� Gor a
W. H. Webster
920494
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