BC 2010 03 01 Work Session - Laserfiche WebLink

Home Browse Search

March 1, 2010 (Work Session) Page 1838 Department (VFD) for fire protection services: 20 calls were not responded to last year; response times ranged from 10 - 30 minutes; in 2009, the Board adopted a resolution for the Odell Fire Department to enter into a financing agreement to build a second station; this new station along with Kannapolis stations (No. 2 and 5) will allow Cabarrus County to provide coverage and discontinue its contract with the Enochville VFD, a Rowan County fire department; the portion of Enochville's fire district located in Cabarrus County will be divided between Odell and the Kannapolis Rural Fire District; revised service boundary maps were sent to the State and approved; and the current contract with the Enochville VFD requires a 90-day written notice of the County's intent not to renew. In response to questions from the Board, Mr. Langer advised the County will provide better protection, faster response and a lower tax rate for residents in the affected area. He further advised that some residents may receive a reduction in their fire insurance premiums. UPON MOTION of Commissioner Mynatt, seconded by Vice Chairman Poole and unanimously carried, the Board voted to place the Non-Renewal of Fire Protection with the Enochville Volunteer Fire Department on the March 15, 2010 Agenda as a Consent item. Finance - Adoption of Revised Fund Balance Policy and Budget Amendment Appropriating $2,000,000.00 to Self-Funded Insurance Funds Pam Dubois, Deputy County Manager, presented information related to a revision to the Board's Fund Balance Policy as set forth in Resolution No. 2005-17 and a budget amendment appropriating $2 million to the Internal Service Funds: Upon the completion of the Comprehensive Annual Financial Report, any undesignated fund balance above 15o will be transferred to the Capital Reserve Fund to reduce reliance on debt financing; or to the Self-Funded Hospitalization Fund, the Self-Funded Liability Fund or the Self-Funded Workers' Compensation Fund as required to maintain the integrity of those funds. Notwithstanding the requirements of items 1, 2 and 3 above, fund balance may be appropriated for any use in the general fund to overcome revenue shortfalls related to significant downturns in the economy. She directed the Board's attention to the fund balance calculation as set forth below and requested a $2 million transfer to the Internal Service Funds ($1 million - Hospitalization Fund; $1 million - Workers' Compensation Fund). She stated the remaining $7.1 million balance will remain in the General Fund for future use for flexibility in funding capital projects or addressing budgetary shortfalls that may be encountered during the budget process. Fund Balance Appropriations - June 30, 2009 Undesignated Fund Balance - June 30, 2009 $ 41,187,681 2010 Budgeted Expenditures - February 22, 2010 $200,783,175 Less 15% Fund Balance Policy $ 30,117,476 Fund Balance Above 15% Policy $ 11,070,205 Fund Balance Appropriated FY2010 (Uncompleted Projects FY 2009) ($ 1,895,031) Less Contribution to Self-Insured Funds ($ 2,000,000) Balance $ 7,175,174 UPON MOTION of Commissioner Privette, seconded by Vice Chairman Poole and unanimously carried, the Board voted to place Adoption of Revised Fund Balance Policy and Budget Amendment Appropriating $2,000,000.00 to Self- Funded Insurance Funds on the March 15, 2010 Agenda as a New Business item. Chairman White requested information regarding contributions made in recent years to the Workers' Compensation fund be provided at the March 15, 2010 meeting. Finance - Budget Amendment (Sheriff's Administration Building Construction Close-Out - $774.22 and Adjustment to Capital Reserve Fund - $131,525.33) and Adopt Revised Capital Project Ordinance and Revised Capital Reserve Rcsnl i~ti nn Susan Fearrington, Assistant Finance Director, reported the budget amendment: (1) closes out the construction project budgeted line items; (2) makes a transfer to the General Fund for the February 1, 2010 debt service interest payment; (3) sets up the expenditure for the arbitrage rebate