The General Fund undesignated fund balance will be maintained at a level sufficient to provide for the required resources to meet operating cost needs, to allow for unforeseen needs of an emergency nature, and to permit orderly adjustment to changes resulting from fluctuations of revenue sources.  Based on the recommendation of the State Treasurer's Office, Mecklenburg County will maintain at least 8% of the next year's budget, net of Federal and State pass-through revenues, in the undesignated fund balance.

Any amounts remaining in the fiscal year-end undesignated fund balance in excess of 8% of the approved subsequent year's budget, excluding Federal and State pass-through revenue, shall be designated for subsequent year's expenditures and shall be maintained by the Director of Finance in a separate interest bearing account.   This excess amount, along with the interest earned thereon, will be available for appropriation by the Board of Commissioners in a subsequent fiscal year to fund capital, operating, or debt service expenditures as determined by the Board of Commissioners during the budget for that subsequent fiscal year.  Primary emphasis will be placed upon 'evening out' peaks and valleys for debt service requirements.

If you have any additional questions that are not addressed, please email mcbraar@co.mecklenburg.nc.us for a detailed response.  Please reference the Finance  Department web page in the subject line of your message.