03-01-2021 Agenda Packet BOCBOARD RETREAT NOTICE
The Person County Board of Commissioners will hold a Board Retreat on
Monday, March 1, 2021, beginning at 9:00am at the Person County Office
Building Auditorium located at 304 S. Morgan Street, Roxboro, NC for the
purpose of discussing the Fiscal Year 2021-2022 Budget and any other
topics as deemed appropriate.
Brenda B. Reaves, NCMCC, MMC
Clerk to the Board
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PERSON COUNTY
BOARD OF COUNTY COMMISSIONERS
MEETING AGENDA
March 1, 2021
Person County Board of County Commissioners
Board Retreat
held at the Person County Auditorium
304 S. Morgan Street, Roxboro, NC
9:00am
CALL TO ORDER………………………………………………………..Chairman Powell
DISCUSSION/ADJUSTMENT/APPROVAL OF AGENDA
ITEM #1 9:05-9:30am
Getting Us Started ……………………………………………………….. Heidi York & Lisa Alston
ITEM #2 pages 4-19 9:30-10:00am
Mid-Year Fiscal Review and Major Highlights ……………………….. Amy Wehrenberg
ITEM #3 pages 20-28 10:00-10:45am
Property Tax Revenue Preview………………………………………….. Russell Jones
& Appointments to the Board of Equalization & Review
BREAK 10:45-11:00am
ITEM #4 pages 29-37 11:00-11:20am
Preview of FY22 Needs ………………………………………………….. Heidi York
ITEM #5 pages 38-50 11:20-12:00pm
Financial Planning for Capital & Debt Affordability..…………… Doug Carter & Andrew Carter
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ITEM #6 12:00-12:30am
Goal Setting & Performance Measures ………………………………… Heidi York
ITEM #7 12:30-12:50pm
Tying it All Together …………………………………………………….. Katherine Cathey
ITEM #8 12:50-1:00pm
Closing remarks & Adjournment ………………………………………. Chairman Powell
Note: All Items on the Agenda are for Discussion and Action as deemed appropriate by the Board.
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Person CountyMid-Year Fiscal ReviewPerson County Board of Commissioners Annual RetreatMarch 1, 2021Amy Wehrenberg, Finance Director4
2Discussion SummaryRevenues: Mid-Year ComparisonSales Tax DistributionExpenditures: Mid-Year ComparisonDebt ServiceFund BalanceUpdates:Cybersecurity RecoveryCoronavirus Relief Fund (CRF)Audit Report StatusSummary and Trends5
Revenues: Mid-Year ComparisonREVENUES Incr (Decr) % Change Ad Valorem Taxes 554,806 1.8%Sales & OtherTaxes378,333 9.7%Fees & Licenses 52,628 1.1%State & FederalFunding 1,159,906 31.9%Other Revenues 248,694 45.1%TOTAL2,394,367 5.5%Revenues are showing a significant increase due to receipt of additional Sales Tax revenues and advance of Covid funds from the State.36
Sales Tax DistributionSales tax is up by almost 10% for the five months compared to last year. Based on this trend, we anticipate sales tax to come in for a total of 10.1 million to finish out this fiscal year, an increase of $1.1M.4 $‐ $2 $4 $6 $8 $10 $122012 2013 2014 2015 2016 2017 2018 2019 2020 2021*Local Option Sales Tax (in millions)7
Expenditures: Mid-Year Comparison-by expense typeEXPENDITURES Incr (Decr) % Change Personnel1,129,589 7.5%Operating2,141,511 14.5%Capital48,806 11.5%Debt Service (1,310,106)‐100.0%Transfers toOther Funds 856,990 27.6%TOTAL2,866,790 8.3%NET CHANGE (Deficit)(472,424)‐5.1%Expenditures are up by $2.9M, mostly due to significant increase in Operating category. Deficit is result of larger increase in expenditures compared to revenues.58
Increases: $5,003,817Increases: $5,003,817Decreases:($2,137,026)Decreases:($2,137,026)Expenditures: Mid-Year Comparison-by functionLargest expenditure increases are reported in Self‐Funded Health Insurance Fund and General Government. Human Services and Public Safety departments reflect significant impacts as well.6Self‐Funded Health Insurance Fund 1,877,505 General Government 1,085,339 Transfers to Other Funds 856,990 Human Services821,534 Public Safety362,448 Environmental Protection(827)Economic Development(9,525)Transportation(91,676)Culture & Recreation (162,382)Education(562,512)Debt Service(1,310,106)9
Debt ServiceTOTAL OUTSTANDING DEBT:$10,543,686 County (66%) 6,967,335 Schools (34%) 3,576,351 BUDGET:FY21 Debt Service Budget 2,069,717 FY22 Debt Service Budget 1,843,564 Decrease in budget from FY21 to FY22 (226,153)710
8Fiscal Year EndingJune 302012School Roofing Projects for SMS & PHS (QSCB)2015PCRC & Various Roofing Projects2016Roxplex & Various Roofing Projects2017Senior Center & Various Roofing Projects2018Towers & Other Building Improvements Project2019 EMS Ambulances Capital LeaseTotal Current Debt ServiceYear to YearChange inCurrentDebt Service2022 260,131 430,800 275,323 195,733 526,360 155,217 1,843,564 (252,633)2023 251,924 221,000 310,457 191,787 512,320 155,217 1,642,705 (200,859)2024 243,717 116,100 259,158 187,842 498,280 - 1,305,096 (337,609)2025 235,509 113,300 154,163 183,897 484,240 - 1,171,108 (133,988)2026 227,302 110,500 76,249 179,951 470,200 - 1,064,202 (106,906)2027 219,095 107,700 - 176,006 381,818 - 884,619 (179,583)2028 106,470 104,900 - 172,060 370,411 - 753,841 (130,778)2029 - 102,100 - 168,115 359,003 - 629,218 (124,623)2030 - - - 164,169 347,596 - 511,765 (117,453)2031-- - 160,224 212,285 - 372,509 (139,256)2032-- - 156,284 106,143 - 262,426 (110,083)2033-- - - 102,633 - 102,633 (159,794)2034-------(102,633)2035--------Totals$ 1,544,148 $ 1,306,400 $ 1,075,349 $ 1,936,067 $ 4,371,288 $ 310,434 $ 10,543,686 $ (2,096,197)Outstanding Debt Serviceby ProjectPerson County’s last scheduled debt payment for the current list of debt-funded projects above is for the Public Safety Towers Project in 2033.11
Outstanding Debt Service9$20.8$16.7$15.5$13.7$12.6$13.2$16.5$14.9$12.6$10.50.05.010.015.020.025.02012 2013 2014 2015 2016 2017 2018 2019 2020 2021 *(Millions)Fiscal Year End* (Estimate)Ten Year ComparisonGraph above represents County's outstanding debt service over 10 year period. Projection of $10.5M at end of FY21 is a 17% reduction from the prior year.12
GFOA- recommends an available fund balance of no less than 2 months of general fund operating expendituresLGC- recommends an available fund balance of at least 8% of general fund expenditures.Person County FB policy - requires an available fund balance equal to or greater than 18% of general fund expendituresFund Balance for FY19 (Audited)20192018General fund expenditures50,903,915$ 50,081,434$ Months12 12 Estimated monthly expenditures4,241,993 4,173,453 Unassigned FB-GF15,491,651 16,223,464 Estimated monthly expenditures4,241,993 4,173,453 Estimated months of available GF FB3.65 3.89 FB as a % of GF expenditures30%32%Unassigned Fund Balance1013
Fund Balance EstimatesFY20 & FY2111If assumptions hold based on current trends, the amount of discretionary fund balance available at current fiscal year-end will range between the amount reported in FY19 and estimates for FY20. In FY21, incoming revenues are helping to cushion the significant increase in expenditures, preventing a larger fund balance decline.Estimates Audit2021 2020 2019General Fund expenditures52,054,857 49,188,067 50,903,915 Months12 12 12 Estimated monthly expenditures 4,337,905 4,099,006 4,241,993 Unassigned FB‐GF16,046,077 16,301,186 15,491,651 Estimated monthly expenditures 4,337,905 4,099,006 4,241,993 Estimated months of available GF‐FB3.70 3.98 3.65 FB as a % of GF Expenditures31% 33% 30%18% minimum level9,369,874 8,853,852 9,162,705 Excess UFB over 18% minimum 6,676,203 7,447,334 6,328,946 14
Unassigned Fund Balance as a % of Expenditures1226.3%18.5%18.4%25.2%26.0%26.0%30.3%30.0%33.0%*31.0%*0.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%2012 2013 2014 2015 20162017 2018 2019 2020* 2021*% of Total ExpendituresFiscal Year* Estimated15
13Cybersecurity RecoveryClaim expenses have been filed and Person County’s application for reimbursement is pending. It is unlikely that 100% of costs will be covered.FY20 FY21(to date) TOTAL REVENUESInsurance proceeds‐159,725 159,725 EXPENDITURESIncident response team 58,676 319,234 377,910 911 system restoration 20,750 ‐20,750 Hard drive data recovery 41,500 ‐41,500 Backup storage appliance‐57,810 57,810 Office 365 Plans‐25,309 25,309 Anti‐virus software‐25,578 25,578 Financial software re‐implementation‐17,020 17,020 Finance‐temp employee assistance‐38,913 38,913 CPA contract for payroll services 4,500 4,762 9,262 Other cyber‐related supplies/equip 8,708 13,717 22,425 TOTAL EXPENDITURES134,134 502,343 636,477 NET DEFICIT(134,134) (342,618) (476,752)16
14Coronavirus Relief Fund (CRF)Expenditures are still ongoing (ie. Vaccine deployment, Health & Public Safety overtime, Covid leave payouts). Therefore, a final accounting will not be possible until these efforts are completed. Currently, Person County reports remaining unallocated CRF funds of $294,565.REVENUESCRF from State1,658,935 EXPENDITURESAllocation to City of Roxboro414,734 Emg Mgt‐web inventory software12,500 Emg Mgt, EM & 911 Supplies & OT341,616 EMS‐respond vehicles & ambulance remount 217,000 Gen Svcs‐spray guns/cleaning supplies32,000 IT‐teleworking equipment21,469 Covid leave expense200,000 Library‐personal protective equip952 Health‐temporary personnel60,000 Health‐vaccine sign‐up software app11,200 Health‐respirator fitting equipment20,000 Health‐vaccine drive‐thru tent10,650 PATS‐air filter machines for vans16,000 PI‐plexiglass dividers4,949 PI‐temperature kiosk1,300 TOTAL EXPENDITURES1,364,370 REMAINING FUNDS294,565 17
15Audit Report StatusAudit process typically takes place from September through December, and audit report is often presented to Board at Retreat.Cyber event in May 2020 caused the need to restore information back to March 2019.Restoration of data took 7 months to complete, delaying the kickoff of the audit process until mid-February 2021.State approved Person County’s extension request to submit audit report by May 31, 2021.Challenges exist due to recent staff turnover, training efforts, and concurrent Budget and CIP processes.Communicating with various state agencies regarding our situation, and attempting to prevent any delayed revenues that may occur as a result.18
16Summary and TrendsRevenues show a large increase of $2.4M resulting from additional Sales Tax revenues and advance of Covid funds from the State.Expenditures report a significant increase at mid-year for $2.9M primarily due to high health insurance claims, along with elevated operational costs associated with Cyber restoration and Covidexpenditures. Sales tax is estimated to increase by 10.1%, or $1.1M by FYE.Outstanding debt is $10.5M. Payoff of debt service in FY21 allows for FY22 budget reduction of approximately $226K. Fund balance projections indicate a slight reduction for FY21.Cyber recovery is almost complete and expenditures total $636K. Reimbursement from insurance proceeds are pending.Remaining balance of CRF to allocate to ongoing Covid-related expenses is approximately $295K.Audit process for FY20’s report has begun and is due to be completed by May 31, 2021.19
County value changes from 2021 to 2022RealM&E State Total value20212,926,411,842 493,846,194 920,233,559 4,340,491,59520223,407,793,913 450,071,747 810,000,000 4,667,865,6600500,000,0001,000,000,0001,500,000,0002,000,000,0002,500,000,0003,000,000,0003,500,000,0004,000,000,0004,500,000,0005,000,000,00020
Fire District value changes from 2021 to 2022RealM&E State Total value20202,463,434,597 339,624,739 904,028,552 3,707,087,88820212,877,912,604 300,087,396 805,000,000 3,983,000,0000500,000,0001,000,000,0001,500,000,0002,000,000,0002,500,000,0003,000,000,0003,500,000,0004,000,000,0004,500,000,00021
Fiscal Year All State Appraised Coal Plants Change from previous2022‐estimated810,000,000 746,496,076‐32,000,002021 920,233,559 856,874,916 +74,544,8092020 845,688,750 782,184,826‐31,901,1202019 877,589,870 813,546,061‐10,681,0992018 888,270,969 821,241,443‐780,1252017 889,051,094 824,174,611 +23,627,4312016 865,423,663 738,942,889 +16,591,8512015 848,831,812 739,221,531 +38,538,301Changes in State Appraised Values22
Tax Rate Tax Office DMV Total Per Penny.72 32,768,417 2,878,560 35,646,977 495,097.71‐485,102.70‐970,204.69‐1,455,306.68‐1,940,408County revenue based on tax rate changes 23
Tax Rate Tax Office DMV Total Per Penny.0275 1,067,942 89,330 1,157,272 420,826.0270‐20,635.0265‐41,270.0260‐61,906Fire revenue based on tax rate changes 24
Purpose of Revenue NeutralThe purpose of the Neutral Property Tax Rate is to show what tax rate next year will produce revenue equal to the prior year, if reappraisal had not occurred, adjusted for average growth. What is “revenue neutral”?What is our average growth?Based on the final levy for the last 8 years, our average growth is 1.14%.25
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AGENDA ABSTRACT
Meeting Date: March 1, 2021
Agenda Title: Appointments to the special Board of Equalization and Review
Summary of Information:
As discussed at the Board’s February 1, 2021 meeting, the Board consented to continue with its
special Board of Equalization and Review as well as each commissioner would nominate one
member for appointment at its meeting on February 16, 2021.
On January 22, 2013, the Board of County Commissioners, by resolution, established a Special
Board of Equalization and Review for Person County (referenced resolution attached). All terms
for the members of this Special Board have expired, and future membership needs to be
addressed. The resolution calls for five (5) members (with one assigned as Chair), plus three
(3) alternative members.
The most recent members were:
1.Former commissioner, Margaret Bradsher (served as Chair),
2. Commissioner Kyle Puryear,
3.Former commissioner, David Newell, Sr.,
4.Former commissioner, Curtis Bradsher, and
5.Former commissioner, Tracey Kendrick (no longer eligible due to relocation out of
county).
Recent alternative members were:
1.Former commissioner, Ray Jeffers, and
2. Faye Boyd, citizen-at-large
The North Carolina Department of Revenue is offering a 2-hour training session to assist the
Board of Equalization and Review. This training provides guidelines and requirements for the
appeal process. The training will be a virtual training session, and is offered on either March 11
or March 18. In the past, this training has very beneficial, especially for new Board members, or
members that have not been through the appeals process during a reappraisal year.
Due to the time commitment, the past special Board of Equalization and Review was reimbursed
per meeting. The reimburse rate was set at $150 per meeting, or $50 per meeting if the member
was also serving as a County Commissioner.
Recommended Action: Appoint five (5) members, with one assigned as Chair plus three
alternative members to serve 4-year terms on the Board of Equalization and Review.
Submitted By: Russell Jones, Tax Administrator
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January 22, 2013
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Preview of NeedsFY 202229
Capital Improvement Plan RequestsPCC:$1,327,143 (Advanced Technology Center, chillers, roof, covered walkways)Schools: $1,592,298 (chillers, HVAC, bleachers, roofing)IT:$129,800 Construction of a new server roomGeneral Services: $55,500 Replace water valves/upgrade actuators – LECRoofing: $253,287 Helena (old) GymnasiumRecreation: $646,051 (7 projects, including lighting, ADA improvements, and playground equipment)Total Project Costs = $4,004,079 Annual Target for CIP spending = ~$2M30
PCCTelephone System Replacement:$9,600Early College – POD Building:$79,000Advanced Technology Center:$500,000Repair HVAC Roof Water Lines:$78,000Chiller Units:$250,000Environmental controls for buildings: $150,000New roof – Building L and covered walkways: $260,543Total $1,327,14331
SchoolsSouthern Middle – Bleachers Replacement: $145,000Earl Bradsher – HVAC unit replacement:$115,000North Elementary – chiller replacement:$150,000Oak Lane Elementary – new roof:$778,868South Elementary – new roof (metal):$51,430South Elementary – tile floor replacement:$87,000North End Elementary – chiller replacement: $125,000Stories Creek Elementary – heat pump replacement: $140,000Total $1,592,298*Also $36,706,910 identified priorities related to safety and security, ADA compliance, and deferred maintenance from previous Needs Assessment32
Operating RequestsHealth Insurance Estimate:$4,733,36114.46% increase+$597,896EMS Salary Adjustments: $34,567New Full Time Positions: $686,638 10 FTEs, 2.5 PTEsVFD Funding: $1,095,248 +$45,877(Restore amount of Former-WVFD funding for reallocation) $24,402(2% Contractual Increase)$21,47533
Medical Insurance RenewalCosts are being driven by high claimantsSolicited & Received BidsAetnaBCBSNCCIGNAMedCostOffering a Health Savings Account (HSA) along with usual PPOSome structural changes to the plan to level out increases rather than pass them on to the employees34
Other Expenditures & OpportunitiesPerson Industries: building lease is up in 2025, pursue a merger of facilities$50K feasibility study: space needs, efficiency improvements, and equipment needs VFD Funding: 2% increase; redistribution of Woodsdale; update mapsBroadband next steps study: $30KCommunity Projects Fund with Republic:$100KDevelop review process or dedicate for single purpose?Human Services Building: lease is up for renegotiation in 2025Obtain an appraisal?County-owned properties35
County-Owned PropertiesCounty FarmProperty tracts at Woodsdale RoadOld Helena School Complex (except gym/EMS satellite)Bushy Fork Grange HallCritcher Wilkerson property (except tower plot)Misc properties around Sportsplex36
Questions?37
County of Person-Financial Planning and the County CIF-Update from February 2019/2020 PresentationsPresented by DEC AssociatesMarch 1, 2021138
Presentation OutlineFor Today’s Presentation2Financial planning benefits and credit rating criteriaReview of actions since 2019 and 2020 presentationsReview of Capital Investment Fund›Transition to next level of capital planning›How to implement›Debt affordability Status of Capital Investment Fund implementation Review of County Financial Policy statusMoving forward and next steps39
Financial Plans Undergird Well Made Decisions3Implementing financial plans consistent with policymaker and management goalsFinancial planning in government has varied based upon many influences›Size, location and desire of governments to plan for financially positive and sustainable outcomes›Planning means many things – short or long-term in duration and nature, are operational needs and capital needs both drivers for plans, what is the desired outcome, where do citizens have a role and on and on›N.C. has been a state known for “good government” and planning has been a significant part of that, many firsts for N.C.›Establishing methods for financial planning have evolved, more specific planning sessions, citizen input and the like›Financial plan goals must be consistent with community needs, cost of delivery and governance methods›Service level and capital investment affordability measurements are vital and help guide maintaining efficient delivery costPlanning is not static and relies on updates and changes to be relevant›As with all forms of planning, it must be constantly evaluated and updated to provide relevant guidance›Multi-year financial plans guide future decisions and set the need for further decision making to maintain affordability›Economic and population growth provide challenges to planning and need for frequent update40
Long- Term FinancialPlanning BenefitsFinancial planning is a framework for sound budget and other decisions4What are the benefits?What do rating agencies require? Planning as a tool to manage well into the future›Creates ability to plan for the longer term›Especially for capital investments›And the operating cost they often bring›Sets the stage for improving financial standing›Gives greater room to meet unforeseen needs›Gives time to make changes with least sudden impacts›Creates credit rating positives›N.C. Local Government Commission regards long-term planning an essential to sound financial management›Four specific areas – Moody’s follow:›Economy – 30%›County finances – 30%›General management – 20%›Debt and pensions – 20%›Methods to identify funding sources/financing strategies›Soundness of the financial plan – needs present and not addressing them a credit negative›Retention of sound fund balances increasing as the budget increases›Elected official and management “buy in”Basics of good planning:All three agencies review similarly:41
Update From 2019And 2020 MeetingPurpose of this conversation – Update on progress – review planning5Decisions made 2019Importance of CIP and debt affordabilityIntroduce, define, review›County Commission hired DEC Associates›DEC made presentation›Role of advisor›Why engage advisor›Expand long-term financial planning›Implement Capital Investment Fund (CIF)›Develop County financial policies›Move toward implementation – fy 20/21 budget›Find methods to manage capital needs/improve creditStrong decision making to improve planning›Roadmap/evaluate current plans and policies›Achievement objectives›Issuance of debt only as necessary›Measuring – capital plan›Plan affordability – debt and other sources›Greater financing alternatives›Tool to match needs with priorities›Annual review – can change as needed›Drives stronger financial standingSound planning essential to lowest cost of servicesMultiple decisions:Planning provides:42
Review CIF Benefits of having oneHighest level capital and debt affordability planning:6Why move upWho cares?›Capital asset needs›Growth›Maintenance of existing assets›Aids economic development›Need to plan for the longer term›Especially capital investments›Operating cost they often bring›Greater ability to meet unforeseen events›Sets the stage for improving financial standing›Community at large›Local Government Commission (LGC)›Debt planning and affordability modeling highly perceived›Issuing only what your need›Rating agencies›Understand comprehensive debt planning›Debt policies›Holders/purchasers of County debt›CitizensDrivers:Stakeholders:Move to best practices43
Review CIFSeparating capital and operating cost How to create best accounting and budgeting:7Operating and capital interact uniquelySeparation method produces›Most counties include in General Fund›Operating cost›Debt service›Capital pay-go›Creates cash/funding mismatch›Debt service reductions – can become operating›Pay-go amounts often change year to year›Likely moves capital resources to operating›Fully account for/budget for capital in “one place”›One all-inclusive “CIF” ›Move all capital dedicated resources›Central place for›Defining all capital priorities›Determining affordability – debt model›Setting or resetting timing›Once implemented - well received by policy makers›Significantly improves understanding and “Transparency”Each have cash flow differences:Improved allocation to capital:Expanding Flexibility 44
Moving to the next levelCreating the CIF and how it worksFlow of funds into and out of the CIF:8Mechanics of CIFCapital Investment FundDebt Service(Pay Existing & Future Debt)Gen. Govt. M&R Pay-go and CIP Pay-goTechnology Capital, Maintenance & RepairsGeneral Fund(Capital & Debt Service)School Sales TaxEducation LotteryNew Capacity? And Fund BalanceMiscellaneous RevenueSchool & PCC Capital Pay-go ProjectsOther Tax Sources45
Debt affordability model Operates inside the CIFBlends available $s, includes all capital cost, projects future cost and uses reasonable metric/other assumptions (revenue growth rates, future interest rates, timing): 9Model flexible - what-ifs improved decision making Projected RevenuesProjected ExpensesEVENTS/CAPACITYProjects Move SlowlyActual Debt Cost Lower than ProjectionsActual Revenues Higher than ProjectionsRapid Debt ReductionOther FactorsMeet Fund Balance Goal?New Capacity46
CIF Implementation And Coming NextProgress is good, project information needs to come, affordability to follow:10Revenue/existing data side in good orderProject needs and timing›All available revenues/resources to CIF identified›Frozen amount from GF›All school related revenues ›Includes all current cost›Current debt service & pay-go ›Future net resources $s known –›Awaiting new project cost to determine if additional resources needed›Mode and timing for debt issue decisions to come›G.O. debt, Limited Obligation debt›Twenty-year issuance – level principal structure›CIP needs identification›General CIP in progress – two large projects›School capital needs under review›School needs are significant›Project needs must be prioritized›Cash flow projections needed by project›Further analysis on cost and essentiality›County Manager has reached out to obtain data and offer assistance in data gathering›Until new information/data received affordability model cannot be completedIncludes needed info and debt mode to come:Future CIP needs to come:Further project information essential for affordability decisions 47
Draft Financial PoliciesUpdate on current status of policies:11Included in PoliciesSignificant benchmarks›Elements of policies›Budget Process & Policies›Accounting Policies›DEC assisted with development›Refined County version to be precise and inclusive of needed elements›County staff actively involved and offered unique Person perspectives›Current draft for Commissioner review›Adoption during 21/22 budgetPolicies compare well to others and meet Person needs›Budget and CIP process defined›Budget Policies – Revenue, expenditure and debt›Specific policy fund balance targets›GF – Unassigned balance 18 to 25% range -amount over 25% transferred to CIF›CIF – Unassigned balance of 33% of annual debt service›Overall policy benchmarks and components of policies consistent with strong double-A ratingBenchmarks sound/not excessive – provide future flexibilityComprehensive in nature:Selected components:Introduce, Define, Review48
12Next Steps andFinal Questions1. Review, change if necessary, County Financial Policies - adopt during 21/22 budget 2. As soon as possible, obtain updated, fully included, school capital request and prioritization - for staff and County Commission review3. Staff presents Capital Investment Fund and accompanying CIP, during budget time4. Full debt affordability available only after receipt of needed School Board capital information and Commissioners approval of project priorities and timing5. Could move affordability, school CIP decisions to fall/winter depending on receipt of capital needs and prioritization process49
Thank You1350