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^ BONDS $113.9 MILLION <br />^ ALTERNATIVE $ 33,9 MILLION <br />^ $19.2 MILLION 2001 BONDS SOLD APRIL 2003. <br />^ $20 MILLION 1993 BONDS REFUNDED. <br />- GENERATED $200 THOUSAND IN ANNUAL SAVINGS. <br />^ $3.5 MILLION ALTERNATI VE FINANCING. <br />DEBT POLICY PARAMETERS <br />^ Debt will not exceed 3! of Assessed Value <br />- Actual Debt = 1.56% of Assessed Value <br />^ Debt Service Payments III Not Exceed 15% of Operating Expenses <br />- Actual P~~nts =13.5°10 of Operatvg Expenses <br />DEBT SUBSEQUENT YEAR <br />^ CURRENTLY REVIEWING DEBT ISSUE PLANS FOR 2003-20Q4 IN FOLLOW-UP <br />TO THE OCTOBER WORKSESSION.. <br />^ REVISIONS TO THE SEPTEMBER 2Q02 PLAN WILL BE FORTHCOMING <br />^ $56 MILLION 2001 BONDS UNISSUED <br />^ $1,2 MILLION 1997 SEWER BONDS UNISSUED <br />SINGLE AUDIT AND GRANTS <br />^ GRANT FUNDS MANAGED $79 MILLION <br />^ DSS FUNDS $69 MILLION <br />$ 9 MILLION RECEIVED BY COUNTY <br />$60 MILLION DIREGT VENDOR PAYMENTS <br />^ HOUSING AND CD FUNDS $5.4 million <br />^ NO FINDINGS OR QUESTIONED COSTS <br />MUNIS IMPLEMENTATION <br />^ December 2002 BOCC Approved New Financial Software Package. <br />^ Dramatic Changes to Transaction Processing and Reporting Capability. <br />^ Successful Software Implementation on May 1, 2003 for AP, Purchasing, GL and <br />Budget. <br />^ Personnel and Payroll Implementation Currently underway. <br />^ January 2, 2004 "Live Date" for PR1Personnel. <br />POSITIVE AUDIT RESULTS <br />^ Successful audit process <br />^ Continued GASB 34 Requirements <br />^ Sound Financial policies and procedures <br />^ Adequate Internal Control Structure <br />^ "Unqualifred Opinion" (GOOD) <br />^ No Material Management Letter Comments <br />