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(ACHIEVED SAVINGS OF $1.5 MILLION, $905 THOUSAND ANNUALLY) <br />• BOND RATINGS MAINTAINED <br />(AAA FITCH, AA+ S&P, Aa2 MOODY'S) <br />• SPORTSPLEXPRIVATE PLACEMENT $6 MILLION <br />• COPS ISSUE PLANNED FOR SPRING 2006 <br />(Projects include Schools, Senior Centers, Conservation Easements and refinancing of <br />SportsPlex) <br />• $5.8 MILLION 2009 BONDS UNISSUED <br />Solid Waste Enterprise Fund <br />• TOTAL REVENUES OF $7.9 MILL/ON <br />• OPERATING EXPENDITURES OF$6.0 MILLION <br />• $9.9 MILLION INCREASE IN RESERVES <br />• $929 THOUSAND APPROPRIATED FOR 2005-2006 <br />• $2.9 M/LLION RESERVES AT YEAR END <br />• NEW 3 R FEE GENERA TED $2.5 MILLION <br />SINGLE AUDIT AND GRANTS <br />• $93 MILLION GRANT FUNDS MANAGED <br />• DSS FUNDS $82.9 MILLION <br />$ 9.4 MILLION RECEIVED BY COUNTY <br />$72.7 MILLION DIRECT VENDOR PAYMENTS <br />• HOUSING AND CD FUNDS $4.9 MILLION <br />• SINGLE AUDIT COVERS BOTH FINANCIAL AND PROGRAM COMPLIANCE <br />• 5 CONSECUTIVE YEARS WITH NO GRANT RELATED FINDINGS OR QUESTIONED <br />COSTS <br />POSITIVE AUDIT RESULTS <br />• Successful audit process <br />• Continued Implementation of New GASB Requirements <br />• Auditors Performed SAS 99 Fraud Review <br />• Sound Financial Policies and Procedures <br />• Adequate Internal Control Structure <br />• No Findings. Reportable Conditions or Exceptions <br />• "Unqualified Opinion" (GOOD) <br />FUTURE FINANCIAL CONSIDERATIONS <br />• Start up Costs for New Schools <br />• Start up, Operating and Other Costs for Parks <br />