Required 5% Contingency Fund

Under the charter, each department must maintain a contingency fund. A contingency fund of, at minimum, five percent (5%) of the total budget must be maintained. In a time of emergencies, each department, as well as the county general fund, should have ample money to deal with emergency situations when they arise.

Found at:

Section 11.02. Budget Plans and General Financial
A total budget contingency fund shall be maintained at five percent (5%) of the county budget.

Section 11.06. Budget Review Process
The budget committee is responsible for reconciling the proposed budgets of the individual offices, departments, schools, and other entities that receive funds from Lincoln County with the revenue projections of the County Financial Director to create a proposed annual budget which does not exceed the fiscal year’s revenue projection, while maintaining a minimum five percent (5%) contingency fund.

Scroll Up