ORD-2012-058 Approval of Budget Amendment #4-d Community Loan Fund for Water & Sewer Connections for Efland & Rogers Roads Residents

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© OqA � zol � -ash e-) -47L A motion was made by Commissioner McKee, seconded by Commissioner Foushee to receive the implementation strategy from the Emergency Services Workgroup regarding recommendations included in the Comprehensive Assessment of Emergency Medical Services & 911/Communications Center Operations Study; approve Budget Amendment#4-C for $414,500 in the current fiscal year; and incorporate the recommendations into the Budget & Capital Investment Plan (CIP) process for Fiscal Year 2013-14. VOTE: UNANIMOUS The Board thanked Steve Allen for working on this report for Orange County. c. Establishment of a Community Loan Fund for the Water and Sewer Connections for Efland and Rogers Roads Residents and Approval of Budget Amendment#4-D The Board considered approving the establishment of a Community Loan Fund for water and sewer connections for residents of the Efland and Rogers Road areas of Orange County, and approving Budget Amendment#4-D. Clarence Grier introduced this item. He said that in previous discussions with the Board, it was decided to start a small loan fund for this purpose. The recommendation is to start a Community Loan Fund with a $100,000 appropriation from the General Fund available fund balance. All loans would range from $3,500 to a max of$10,000, and carry a low interest rate of 1-2% over a maximum period of 10 years. A 0.25% administrative fee would be added to each loan to cover the administration of the loan. Frank Clifton said that this loan is to assist people from running water and sewer lines from the street to their homes. Commissioner Jacobs said that he thought the County had developed a loan fund through OCIM for people in Efland. Clarence Grier said that this is part of that discussion instead of going through OCIM. A motion was made by Commissioner Foushee, seconded by Commissioner Hemminger to approve the establishment of a Community Loan Fund for water and sewer for residents of the Efland and Rogers Road areas of Orange County, and approve Budget Amendment#4-D an appropriation of General Fund available fund balance of$100,000. VOTE: UNANIMOUS d. Recommended Uses of General Fund Unassigned Fund Balance, as of June 30, 2012 The Board considered recommendations for the use of the General Fund unassigned Fund Balance in excess of the BOCC's fund balance policy. Clarence Grier introduced this item. On April 5, 2011, the BOCC adopted a fund balance policy that states: The County will strive to maintain an unassigned fund balance in the General Fund of 17%percent of budgeted general fund operating expenditures each fiscal year The amount of unassigned fund balance maintained during each fiscal year should not fall below 8%percent of budgeted general fund operating expenditures, as recommended bythe North Carolina Local Government Commission (Attachment 1). Over time, the County's financial reserves grew. On June 30, 2012, the general fund's unassigned fund balance totaled $39.6 million (Attachment 2). Of this amount, $3.2 million was appropriated, prior to the end of the fiscal year. After these appropriations, the general fund's