Minutes 04-05-2011 - Laserfiche WebLink

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� those improvements, including the potential long-term revenue stream from the landfill gas program. Chair Pelissier reiterated that the towns will be informed, but the County will be acting alone. Commissioner Hemminger asked to include what has been done in the past. Frank Clifton said that there is an issue of illegal dumping and who is responsible. Under the general statutes, the property owner is responsible unless they can identify who has done the dumping. Commissioner Jacobs said that he wants to review existing proposals and past studies of this mitigation issue and the legal options related to illegal dumping. Chair Pelissier said that she thinks that the direction given to staff addresses the spirit of the resolution that was presented by the community. b. Sales Tax Distribution Method for Fiscal 2011/2012 The Board considered Sales Tax Distribution Options and confirming that the Orange County distribution of local option sales tax will remain based on Population for fiscal year 2011/2012. Michael Talbert gave history of the local option sales tax. Orange County has chosen to use the population base as the basis for this sales tax. The second option would be to distribute the sales tax based on the property tax base and the levy associated with that base. This would affect the towns negatively. A third option might be for the County to enter into an agreement with the towns that would hold the County harmless. He made reference to page 3 of the abstract. If the Board wants to make a change, it would have to be done by the end of April 2012. No action taken would keep it as it is now. Commissioner Yuhasz said that he would like to indicate to the municipalities his interest in the information in the third option. Frank Clifton said that it is in the best interest of the municipalities to do this third option. A motion was made by Commissioner Jacobs, seconded by Commissioner Yuhasz to engage in a discussion of this formula over the next year on this issue. Chair Pelissier said that she is in favor of looking into a cost-sharing arrangement because the towns are looking to increase density in the towns and this would be to the County's disadvantage. VOTE: UNANIMOUS c. Approval of Oranqe County's Capital Fundinq, Debt Manaqement, Fund Balance, and Investment Policies The Board considered approving changes in the Capital Funding, Debt Management, Fund Balance Management, and Investment Policies. Clarence Grier said that the Board has seen the Capital Funding, Debt Management, and Fund Balance policies previously. This brings the County into compliance with GASB 54 and compliant standards for a county in reporting for fund balance. The Board has not discussed the investment policy, which follows the law of North Carolina statutes and is conservative in nature. Frank Clifton said that the fund balance is two months of operating expenses. Clarence Grier said that if these policies are adopted, it goes a long way in helping to improve the bond rating for the County.