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