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January 3, 2011 (Work Session) Page 272
<br />exceeds staff's waiver authority and therefore requires the
<br />Commission's consideration.
<br />UPON MOTION of Vice Chairman Poole, seconded by Commissioner Carruth
<br />and unanimously carried, the Board voted to place "First Time Waiver of
<br />Occupancy Tax Penalties, Great Wolf Lodge - $10,200.96" on the January 18,
<br />2011 Agenda as a Consent item granting the waiver.
<br />Finance - Request to Waive Fund Balance Transfer to Capital Reserve Fund per
<br />Board Policy for FY 2011
<br />Pam Dubois, Deputy County Manager, reported upon completion of the
<br />County's Comprehensive Annual Financial Audit, any undesignated fund balance
<br />above 15 percent is transferred to the Capital Reserve Fund in accordance
<br />with the Board's policy (Ref. Resolution No. 2010 -09, Section 3). However, a
<br />waiver of this policy is requested for FY 2011 since the economy has not
<br />improved. She said the excess fund balance will be used as needed, to
<br />balance the annual budget for the next several years and will not affect the
<br />County's bond rating as long as the County maintains its 15 percent fund
<br />balance.
<br />She also reviewed the following Fund Balance Appropriations as of June
<br />30, 2010:
<br />Undesignated Fund Balance As of June 30, 2010 $ 54,436,158
<br />2010 Budgeted Expenditures (from 5 year plan, FY2015) 210,071,868
<br />Less 15% Fund Balance Policy 31,510,780
<br />Fund Balance Above 15% Policy $ 22,925,378
<br />Fund Balance Appropriated FY2011 - Uncompleted Projects from FY2010 (1,724,848)
<br />Less: Contribution to Self- Insured Funds (2,000,000)
<br />Less: Fund Balance to be used to balance budget through 2015 (9,558,372)
<br />Less: Estimated Bethel School demolition (500,000)
<br />Less: Estimated Elections Building demolition (500,000)
<br />Less: Estimated Remodeling space of CHA for transportation and (1,000,000)
<br />DSS /secure parking lot for transportation
<br />Less: Estimated Landfill funding for closure /post closure cost (2,500,000)
<br />$ 5,142,158
<br />A general discussion ensued and several Board members expressed support
<br />for the waiver.
<br />At the request of the Board, Ms. Dubois reviewed the Local Government
<br />Commission's (LGC) administrative policy on fund balance, which recommends
<br />governmental entities maintain at least 8 percent of their expenditures in a
<br />fund balance. She said the County's policy of maintaining a 15 percent fund
<br />balance was based upon an analysis of cash flow that was conducted several
<br />years ago. Although, the recommendation for a government of our size is 20
<br />percent, she advised that 15 percent is sufficient at this time.
<br />UPON MOTION of Vice Chairman Poole, seconded by Commissioner Measmer
<br />and unanimously carried, the Board voted to place the "Request to Waive Fund
<br />Balance Transfer to Capital Reserve Fund per Board Policy for FY 2011" on the
<br />January 18, 2011 Agenda as a Consent item.
<br />S &W Conservation - Approval of NC Clean Water Management Trust Fund Grant
<br />Contract - $953,403.00
<br />Dennis Testerman, Senior Resource Conservation Specialist, reported on
<br />the award of a North Carolina Clean Water Management Trust Fund Grant and
<br />related contract to improve water quality in Clarke Creek. The grant award
<br />totals $953,403.00 of which he said $431,570.00 will come from matching funds
<br />and $292,500.00 as the value of donated permanent easements.
<br />Mr. Testerman and Pam Dubois, Deputy County Manager, responded to
<br />questions from the Board regarding in -kind contributions and matching funds.
<br />UPON MOTION of Vice Chairman Poole, seconded by Commissioner Carruth
<br />and unanimously carried, the Board voted to place "Approval of NC Clean Water
<br />Management Trust Fund Grant Contract - $953,403.00" on the January 18, 2011
<br />Agenda as a Consent item.
<br />BOC - Receive Updates from Commission Members Who Serve as Liaisons to
<br />Municipalities or on Various Boards /Committees
<br />Chairman White advised that according to information provided by the
<br />CVB (Convention and Visitor's Bureau) Cabarrus County meets or exceeds other
<br />counties in comparison.
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