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Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2019 <br /> <br />104 <br /> <br />NOTE 16 - FUND BALANCE – Continued <br /> <br />B. Fund Balance Policy - Continued <br /> <br />Budget Stabilization Reserve – A balance of no less than 5% of budgeted operating expenditures for <br />the current fiscal year will be reserved only for the purpose of revenue declines or unfunded mandates <br />from the state and federal governments. Funds utilized due to revenue declines will be replenished over <br />a five-year period. Funds utilized for unfunded mandates or unanticipated expenditures cannot be used <br />for more than a three-year period and must be replenished within five-years after the three-year period. <br /> <br />At September 30, 2019, reserve amounts for those funds were: <br /> <br /> Budget <br /> Disaster Relief Stabilization Total <br /> <br />General Fund $ 6,800,000 $ 6,800,000 $ 13,600,000 <br />Transportation Fund 900,000 900,000 1,800,000 <br />Emergency Services District Fund 2,100,000 2,100,000 4,200,000 <br /> <br />Total $ 9,800,000 $ 9,800,000 $ 19,600,000 <br /> <br /> <br />The General Fund reserves are included in the unassigned fund balance on the balance sheet. The <br />Transportation Fund reserves are included in the assigned fund balance and the Emergency Services <br />District Fund reserves are included in the restricted fund balance on the balance sheet. <br />Emergency/Disaster Relief and Budget Stabilization Reserve amounts may only be revised by the <br />Board of County Commissioners. <br /> <br />Minimum Fund Balance - The approved fund balance policy dictates the County’s attempt to maintain <br />a minimum fund balance in the General, Transportation, and Emergency Services District funds of 20% <br />of budgeted annual operating expenditures. The minimum fund balance level may be revised by the <br />County Administrator or his designee. <br /> <br />C. Spending Hierarchy <br /> <br />For all governmental funds, when restricted, committed, assigned, and unassigned fund balances are <br />combined in a fund, qualified expenditures are paid first from restricted or committed fund balance, as <br />appropriate, then assigned and finally unassigned fund balances.