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Chapter 7     Entire Code
‹ Chapter 06C  |  Chapter 07A › Printer Friendly Versions
Chapter 7  |  Article 7 - 21  |  Section 3
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 2014 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 - 14 D- 7 A - (Amended Code)
SENATE BILL - 342
PASSED - Regular Session

sb342 sub1 enr  (Uploaded - 03/30/2015)
Clarifying scope, application and requirements for error corrections by CPRB
§ 7 - 26 - 1 - (New Code)
§ 7 - 26 - 2 - (New Code)
§ 7 - 26 - 3 - (New Code)
§ 7 - 26 - 4 - (New Code)
§ 7 - 26 - 5 - (New Code)
§ 7 - 26 - 6 - (New Code)
SENATE BILL - 435
PASSED - Regular Session

SB435 SUB1 enr  (Uploaded - 03/30/2015)
SB435 SUB1 enr2  (Uploaded - 03/23/2015)
Creating WV Sheriffs' Bureau of Professional Standards
§ 7 - 12 - 7 - (Amended Code)
SENATE BILL - 518
PASSED - Regular Session

sb518 enr  (Uploaded - 03/30/2015)
Permitting county and municipal economic development authorities invest certain funds
§ 7 - 14 D- 5 - (Amended Code)
HOUSE BILL - 2505
PASSED - Regular Session

HB2505 ENR SUB  (Uploaded - 03/15/2015)
Relating to retirement system participation and concurrent employment provisions
§ 7 - 5 - 16 - (Amended Code)
HOUSE BILL - 2549
PASSED - Regular Session

HB2549 SUB ENR  (Uploaded - 03/23/2015)
Relating to the preparation and publication of county financial statements
§ 7 - 22 - 7 A - (New Code)
HOUSE BILL - 2562
PASSED - Regular Session

HB2562 ENR SUB  (Uploaded - 03/17/2015)
Relating to sales tax increment financing
§ 7 - 25 - 6 - (Amended Code)
§ 7 - 25 - 7 A - (New Code)
§ 7 - 25 - 11 - (Amended Code)
§ 7 - 25 - 15 - (Amended Code)
§ 7 - 25 - 27 - (New Code)
HOUSE BILL - 2914
PASSED - Regular Session

hb2914 ENR  (Uploaded - 03/17/2015)
Providing for voluntary dissolution of resort area district
Note: WV Code updated with legislation passed through the 2014 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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