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2 <br /> Additionally, although not a capital project, the County's other post-employment benefit (OPEB) <br /> liability increases approximately $4.5 million each year, and the County has recently started <br /> addressing the funding of the total required contribution in order to address the concerns of the <br /> Local Government Commission (LGC) and the debt issuance community (bond rating agencies, <br /> lenders, and etc.). The outstanding liability currently is $62.8 million. It has been communicated <br /> to the County's staff by the LGC and debt issuance community that the County's ability to issue <br /> future debt and the ratings for any future debt could be affected by not fully funding the annual <br /> contribution and addressing the liability. This would ultimately affect the number and size of the <br /> future capital projects that the Board of County Commissioners could consider funding in future <br /> years. <br /> Finally, the County debt policy requires that the annual debt service payments be no more than <br /> 15% of the General Fund's expenditures each fiscal year. The recommended additional <br /> emergency medical and 911 communications operating expenditures and the annual OPEB <br /> contribution will put the County close to the debt service capacity beginning FY2016-17 (See <br /> Attachment 3). <br /> FINANCIAL IMPACT: There are not any current financial impacts in receiving this information. <br /> All future financial impacts will incur only when actions to approve and fund the operational and <br /> capital recommendations included in this abstract. <br /> RECOMMENDATION(S): The Manager recommends that the Boards receive this information <br /> and provide direction and feedback to staff. <br />