Cash Funds Maximum Reserve Exception
Concerning an exemption from the maximum reserve for cash funds with fee revenue collected by the division of fire prevention and control.
2020 Regular Session
Fiscal Policy & Taxes
A cash fund with fee revenue has a limit on the amount of uncommitted reserves that there may be at the end of a fiscal year, which limit is equal to 16.5% of the amount expended from the cash fund during the fiscal year. The bill exempts from this maximum reserve the following cash funds administered by the division of fire prevention and control in the department of public safety:
- The fire suppression cash fund;
- The public school construction and inspection cash fund; and
- The health facility construction and inspection cash fund.
(Note: This summary applies to this bill as introduced.)