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for the County. There will be a holistic approach, recognizing that the approaches and the responsibilities of the two departments would be different, but should be compatible. Commissioner Jacobs said that the Board has talked about at least considering a staff attorney. He asked how this would get into the budget. Laura Blackmon said that she talked with Geof Gledhill about the responsibilities this person would have, but there are a lot of details to work out before it gets put into the budget. Commissioner Jacobs asked for a placeholder in the budget for a staff attorney. Donna Coffey said that there was a reserve set-aside during the budget process last year, and it is still there, but there was no actual position tied to it. Now there can be a placeholder with an FTE. Commissioner Jacobs said that part of why it was delayed was so that the new Manager could help craft the position. Commissioner Nelson asked if the staff was looking for potential efficiencies in some departments and things to be cut. Laura Blackmon said that she has not sat down with the departments yet. One of the directions to the departments was for them to look at programs that are no longer needed and other tradeoffs. Commissioner Jacobs asked for clarification on the money the County is spending on functions related to schools that are being funded outside the per pupil. He asked if this would be in a separate category. Donna Coffey said that the $800,000 in fair funding would show in the education budget. Commissioner Jacobs wants to highlight this every time educational spending is discussed. Donna Coffey said that Attachment fi shows the $800,000. Attachment 9 was from Finance Director Ken Chavious regarding fiscal issues. He said that he was on a waiting list of other units of government to speak with the actuaries who provided these numbers. Some people are finding that there are problems with how the numbers were provided. He said that right now there is no requirement to fund GASB 45, there is just a requirement to report it. He said that everyone is not scrambling and trying to fund it right away. He thinks that the issue down the road is how the rating agencies will look at it. He said that he would not recommend addressing this in 2007-08. There is a PowerPoint presentation in the agenda materials from someone at UNC's School of Government. Commissioner Gordon asked Ken Chavious what he plans to do about the fact that the County has a debt and the school system has the assets. Ken Chavious said that the County could have the school systems title the property to the County. Commissioner Jacobs asked if the school systems have similar liabilities regarding retired employees and Ken Chavious answered that the State does. Commissioner Jacobs asked about the $84.5 million and Ken Chavious said that this number will be different every year, and this can be amortized aver a long period of time. He said that this number is based on the assumption that the Caunty would have to pay all of the money, which means that everyone that the County employed that was eligible to retire actually retired and was eligible far this benefit, this is what it would cast. Commissioner Jacobs asked about the plan and Ken Chavious said that the plan is not to address the $84.5 million, but to address the annual required contribution, which is $8.8 million. Laura Blackmon said that she looked at the preliminary figures and her first reaction is that the benefits clearly need to be changed. She said that the current plan is very generous. Commissioner Jacobs asked about other states that have done this already and Ken Chavious said that this is new to everybody this year. Geof Gledhill asked if the Local Government Commission had weighed in on this and Ken Chavious said that the LGC has said that it is a reporting requirement for the financial