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AG 1999 06 21
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AG 1999 06 21
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Last modified
3/25/2002 6:00:16 PM
Creation date
11/27/2017 11:49:25 AM
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Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
6/21/1999
Board
Board of Commissioners
Meeting Type
Regular
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Agenda <br />June 21, 1999 <br />Page 8 <br /> <br />The exact mount of funds available above the established 15% level is a best guesstimate until <br />audits are completed at the end of each fiscal year. Historically, the County has used the <br />'undesignated' fund balance periodically to balance the budget or to make 'un-budgeted' <br />purchases. As a one-time practice or on a limited basis, those actions are not unreasonable. <br />However, forecasting debt payments on that basis is not recommended. <br /> <br />A reduction in the desired percentage goal is an action the Board can consider and implement. It <br />would result in the one-time availability of funds exceeding the non-established percentage level <br />(as it does now for funds above 15%). The State mandates a minimum fund balance policy of <br />eight percent (8%). <br /> <br />The Board has discussed this issue several times. The Board may desire to modify the current <br />15% policy or as was done this fiscal year (2000) attempt to shif~ those funds above 15% to one- <br />time expenditures in an effort to effectively reduce future obligations or meet/implement specific <br />requested projects or needs. The use of amounts above established policy levels (regardless of <br />what percentage) for reoccurring expense is not recommended. Significant variances in the <br />amount of dollars available for such use can be expected from one fiscal period to another. <br /> <br />· Adopt-A-School Program <br /> <br />This issue is probably best left to the School Systems to pursue. It would best be served by the <br />creation of some form of foundation to insure that corporate or private funds achieve designated <br />results. This process could be researched and pursued on the basis of applicable federal and state <br />law. <br /> <br />While not included in Mr. Fennel's recommendations and somewhat subject to a variety of <br />opinions, one option that could be pursued would be to seek 'corporate' financial support for <br />specific school facilities. Certainly not on the same level as "Lowes" Motor Speedway, other <br />public jurisdictions elsewhere have sought corporate investment/advertising income to offset the <br />capital and operating costs of public facilities. Specific opportunities might revolve around <br />athletic, other educational support facilities or program sponsorships. <br /> <br />8 <br /> <br /> <br />
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