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7 <br /> •Debt Service Payments Will Not Exceed 15% of General Fund Expenditures and Transfers <br /> ➢ Actual Pymts = 14.2% <br /> COUNTY AND SCHOOL CAPITAL PROJECT FUNDS <br /> Solid Waste Enterprise Fund <br /> •TOTAL REVENUES OF $8.6 MILLION <br /> •TOTAL EXPENDITURES OF $10.3 MILLION <br /> .$ .1.7 MILLION REVENUES UNDER EXPENDITURES <br /> .CASH AND INVESTMENTS OF $9.2 MILLION <br /> •CURRENT LIABILITIES OF $1.6 MILLION <br /> •SOUND FINANCIAL CONDITION <br /> SPORTSPLEX <br /> •Net Assets as of June 30, 2009 totaled $672,397 <br /> •Increase of $220,555 in net assets <br /> •Operating Revenue increased $69,384 <br /> •Operating loss increased $199,332 (Prior Year was ($337,632). <br /> •Audit Letter Recommended Improvements in Accounting Procedures is a return comment from <br /> the previous fiscal year. <br /> SINGLE AUDIT AND GRANTS <br /> ■$127.9 MILLION FEDERAL AND STATE GRANT FUNDS <br /> .HEALTH AND HUMAN SERVICES FUNDS TOTAL $103 MILLION <br /> .HOUSING AND COMMUNITY DEVELOPMENT FUNDS $5.0 MILLION <br /> ■SINGLE AUDIT COVERS BOTH FINANCIAL AND PROGRAM COMPLIANCE <br /> AUDIT RESULTS <br /> ■"Unqualified Opinion" (GOOD) <br /> •Successful audit process <br /> •Continued Implementation of New GASB Requirements <br /> •Auditors Performed Additional SAS Requirements <br /> •Sound Financial Policies and Procedures <br /> •Findings, Recommendations And Responses. <br /> FUTURE FINANCIAL CONSIDERATIONS <br /> .Debt Issuance for Remaining Parks and Open Space Bonds, Elementary 11, Efland Sewer, Tax <br /> System. <br /> .Additional General Fund Balance Appropriation needed for Capital Project Funds <br /> .Continue Searching For New Revenue Options <br /> .More Consideration to Grant Accountant and Internal Audit Function <br /> .Consideration of ways to reduce future OPEB liability. <br /> Commissioner Gordon made reference to page 157 and a concern about the findings. <br /> She asked for an explanation of material weaknesses that were identified. She said that there <br />