2008 - 02-18-08 Finance Meeting - Laserfiche WebLink

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• BOOK 22 PaOE 29 }EE COUNTY eC.Z-~~ 124 ......4. ' ~ • ~I 5 Committed Today for a Better Tomorrow MINUTES OF THE FINANCE COMMITTEE MEETING OF THE BOARD OF COMMISSIONERS FOR THE COUNTY OF LEE, STATE OF NORTH CAROLINA FEBRUARY 18. 2008 The Finance Committee meeting of the Board of Commissioners for the County of Lee, State of North Carolina, convened at 2:00 p.m. in the Wicker Conference Room, First Floor, Lee County Government Center, 106 Hillcrest Drive, Sanford, North Carolina, on said date. Commissioners present were James C. Kelly, Robert T. Reives, and Linda A. Shook. Also present for the meeting were County Manager John Crumpton, Attorney K. R. Hoyle, Finance Director Lisa Minter, Clerk to the Board Gaynell Lee, and Ted Cole and Bob High from Davenport & Company. Finance Committee Chairman Robert Reives called the meeting to order and the following items were discussed: Computing Support Technician II Position - Chairman Reives removed this item from the agenda and asked IT Director Ryan Draughn to go through the regular upcoming budget process to request this new position for his department. Mr. Draughn passed out information in reference to his request to committee members. No action was taken. Waterline Extensions for County Residents - County Manager John Crumpton stated that some county residents with wells have notified him of their need for the waterline extension in their neighborhoods. Due to the drought, the City of Sanford has also received several requests to extend waterlines to County residents; however, the City has not extended the lines because they do not have authority to assess the cost to the customers. It was noted the City cannot go outside the city limits to assess for water lines without authorization from the County. Mr. Hoyle stated the City of Sanford would have to request from the County permission to assess county residents if waterlines are extended beyond the city limits. Mr. Crumpton stated a Water Assessment District might have to be set up to handle this matter. Mr. Crumpton was asked to follow-up with the City Manager on this matter. No action was taken. Davenport & Company Financial Report - Mr. Ted Cole and Mr. Bob High from Davenport & Company gave a financial presentation on the effects of the Y< percent sales tax on the County's ability to borrow money for future capital projects. The report took into account Lottery proceeds, ADM revenues, property tax increases and decreases, and what future borrowing capacity the County may have with the sales tax revenue. The same report will be given to the full Board at the 3:00 p.m. meeting. No action was taken.