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Marin/Sonoma Mosquito and Vector Control District Financial Reserve Policy

Purpose

Marin/Sonoma Mosquito and Vector Control District (the District) shall maintain reserve funds. This policy establishes the level of reserves necessary for maintaining the District's credit worthiness and for adequately providing for:

  • Funding infrastructure replacement.
  • Economic uncertainties and other financial hardships.
  • Loss of significant revenue sources such as property tax receipts or connection fees.
  • Local disasters or catastrophic events.
  • Future debt or capital obligations.
  • Cash flow requirements.
  • Unfunded mandates including costly regulatory requirements.

Policy

The Board of Trustees has established the following reserve funds and target funding levels:

Operating Fund - $3.9 M

Purpose: The District receives income in twice yearly increments and must cover its operating expenses during the “no income” period in between revenue transfers from the County Tax Collectors.

Capital Replacement Fund - $3M

Purpose: To provide prudent reserves for ongoing replacement of capital assets including buildings, facilities, many types of specialized equipment, vehicle fleet and watercraft.

Vector-borne Disease Emergency Fund - $1M

Purpose: To provide a financial reserve to partially offset the cost of dealing with potential future events such as an outbreak of disease, or the need to contain/control invasive species. To date, twelve counties in California have reported the presence of invasive Aedes species of mosquito, including the Yellow Fever and Asian Tiger mosquitoes.