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Chapter 7     Entire Code
‹ Chapter 06C  |  Chapter 07A › Printer Friendly Versions
Chapter 7  |  Article 7 - 21
WVC 7- CHAPTER 7. COUNTY COMMISSIONS AND OFFICERS.
WVC 7 - 21 - ARTICLE 21. COUNTY FINANCIAL STABILIZATION FUND ACT.

WVC 7 - 21 - 1 §7-21-1. Short title.
This article may be known and cited as the "County Financial Stabilization Fund Act."

WVC 7 - 21 - 2 §7-21-2. Findings and declarations.
The Legislature finds and declares that:

(1) County government should maintain a prudent level of financial resources to try to protect against reducing service levels or raising taxes and fees because of temporary revenue shortfalls, unpredicted one-time expenditures or emergency situations; and

(2) The creation, maintenance and use of a financial stabilization fund will provide counties with assistance to meet these challenges, as well as enable them to improve their financial management and practices.

WVC 7 - 21 - 3 §7-21-3. Budget stabilization fund; creation; appropriation; maximum.
(a) A county commission may create a "financial stabilization fund" by a majority vote of the members. The fund may receive appropriations, gifts, grants and any other funds made available.

(b) The county commission may appropriate a sum to the fund from any surplus in the general fund at the end of each fiscal year or from any other money available.

(c) The amount of money in the fund may not exceed thirty percent of the county's most recent general fund budget, as originally adopted. When the fund exceeds the thirty percent, the county commission shall transfer the excess to any fund it considers appropriate.

WVC 7 - 21 - 4 §7-21-4. Fund investment; usage.
(a) The county commission may invest the money in the fund as it considers appropriate, with the earnings retained by the fund.

(b) The county commission may appropriate money in the financial stabilization fund upon a majority vote for any of the following purposes:

(1) To cover a general fund shortfall; or

(2) Any other purpose the commission considers appropriate.

Note: WV Code updated with legislation passed through the 2013 1st Special Session
The WV Code Online is an unofficial copy of the annotated WV Code, provided as a convenience. It has NOT been edited for publication, and is not in any way official or authoritative.


Recent legislation affecting the Code

Citation Year/Session Short Title
§ 7 - 18 - 14 - (Amended Code)
SENATE BILL - 314
PASSED - Regular Session

SB314 ENR  (Uploaded - 03/25/2014)
Appropriating hotel occupancy tax proceeds to counties with no more than one hospital
§ 7 - 11 B- 3 - (Amended Code)
SENATE BILL - 375
PASSED - Regular Session

SB375 ENR  (Uploaded - 03/25/2014)
Excluding certain real and personal property from TIF assessment
§ 7 - 22 - 9 - (Amended Code)
§ 7 - 22 - 15 - (Amended Code)
SENATE BILL - 439
PASSED - Regular Session

SB439 SUB1 ENR  (Uploaded - 03/26/2014)
Increasing acreage of Ohio County's Fort Henry Economic Opportunity Development District
§ 7 - 14 D- 20 - (Amended Code)
§ 7 - 14 D- 21 - (Amended Code)
HOUSE BILL - 4349
PASSED - Regular Session

HB4349 SUB ENR  (Uploaded - 03/25/2014)
Clarifying retirement dependent child scholarship and burial benefits under a Qualified Domestic Relations Order
§ 7 - 7 - 1 - (Amended Code)
§ 7 - 7 - 4 - (Amended Code)
SENATE BILL - 1005
PASSED - 1st Special Session

SB1005 ENR  (Uploaded - 03/25/2014)
Authorizing salary increase for county commissioners and elected county officials
Note: WV Code updated with legislation passed through the 2013 1st Special Session
The WV Code Online is an unofficial copy of the annotated WV Code, provided as a convenience. It has NOT been edited for publication, and is not in any way official or authoritative.
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