3-19-18 Regular Meeting - Laserfiche WebLink

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F. Request for Approval of Memorandum of Understanding for Temporary Land Use at OT Sloan Park. Resolute Building Company has requested the use of approximately 75 feet of park property adjoining the SECU Project property line. County property will be used for setting up a construction office, construction employee parking, and staging materials and equipment for the project. The project is expected to be completed by the end of October 2018. Commissioner Sloan moved to accept a Memorandum of Understanding authorizing the use of approximately 75 feet of property adjacent to O.T. Sloan Park in order to construct the new SECU on Bragg Street, a copy of the Memorandum of Understanding is attached to these minutes and by this reference made a part hereof. Upon a vote, the results were as follows: Aye: Dalrymple, Knecht, Oldham, Reives, Sharpe, Sloan Nay: None Absent: Dodson The Chair ruled the motion had carried unanimously. G. Consideration of Revisions of the County's Financial Policies Regarding Available Fund Balance Percentages The Board of Commissioners and the County Manager have had several discussions over the last few years regarding appropriate fund balance levels. The Local Government Commission recommends that counties maintain an available fund balance equal to 8% of the General Fund budget as a minimum. The 8% equates to roughly one month's expenditures. When asked what they would recommend as a target percentage, they recommend that you look at the average of your peer group. As of the fiscal year ended June 30, 2016, Lee County's population group average available fund balance percentage was 31.57%. Lee County's percentage was 17.92%. Based on the numbers in our population group, it is recommended that current fund balance policy in the County's financial policies be revised to raise the floor available fund balance percentage from 14% to 16% and the target percentage from 18% to 24%. Having an increased fund balance allows the County greater flexibility if there is a downturn in the economy. It also gives the County greater resources to be able to take advantage of opportunities that may come available for property purchases, grants, etc. Commissioner Reives moved to approve the revised Financial Policies Resolution. Commissioner Knecht moved to table the Financial Policies Revisions until the next meeting to gain understanding of the proposed policies. Commissioner Reives withdrew his motion to approve. After discussion, Commissioner Knecht withdrew his motion to table. Commissioner Reives renewed his motion to adopt the revised Financial Policies Resolution, a copy of which is attached to these minutes and by this reference made a part hereof . Upon a vote, the results were as follows: Aye: Dalrymple, Knecht, Oldham, Reives, Sharpe, Sloan Page 719