Agenda - 09-01-2015 - 6a - Laserfiche WebLink

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5 1 Bonnie Hammersley said it was the understanding of staff that this is exactly what would 2 happen. She said even if an intent to adopt is passed the Board may make additional changes 3 prior to the final adoption of the budget. 4 Commissioner Jacobs said he is not suggesting that a decision be made tonight about 5 $100,000 but rather that the amount be set aside until Tuesday night. 6 Commissioner Price said the CIP can still be approved since it is intent only. 7 Chair McKee said he will not vote for this. 8 Commissioner Rich asked if the Board is in agreement that Fairview Park needs to be a 9 line item in the CIP. She said the park was overlooked and it needs to be put in the CIP. 10 Bonnie Hammersley said she is not sure a motion is needed to allow for Commissioner 11 Rich's suggestion as staff will insure that Fairview Park does become a line item. She said the 12 CIP and the budget will be presented differently in the future. 13 14 VOTE: Ayes, 4 (Commissioner Jacobs, Commissioner Price, Commissioner Rich and 15 Commissioner Dorosin); Nays, 3 (Chair McKee, Commissioners Pelissier, and Commissioner 16 Burroughs) 17 18 A motion was made by Commissioner Rich, seconded by Commissioner Price to accept 19 the Five Year Capital Investment Plan and Approve the Intent to Adopt Capital Funding for 20 FY2015-16, with caveat that the Board will discuss the Fairview Park project on Tuesday. 21 22 VOTE: UNANIMOUS 23 24 Chair McKee noted the remaining funds available for allocation are $645,000. 25 26 2. FY2015-16 Annual Operating Budget Decision Items 27 • Mark Up/Mark Down Items for the County's Annual Operating Budget and Outside 28 Agencies 29 30 • County Departments 31 Commissioner Dorosin asked if the $645,000 is the remaining funds available for 32 allocation, without raising taxes. He also asked if this includes reserve funds. 33 Bonnie Hammersley said no. She said the County's projected reserves meets Orange 34 County's financial policy of 17 percent. She said the State's financial policy is 8%. 35 Commissioner Dorosin asked what would happen if a majority voted to go below the 36 County policy. 37 Paul Laughton said it is a policy that rating agencies will review. He said these agencies 38 see this policy as a strong fiscal control that the County has in place and it helps the County 39 achieve and maintain the Triple AAA bond rating so crucial when seeking financing. 40 Commissioner Dorosin asked if it is a conservative policy. 41 Paul Laughton said it was chosen by looking at peer counties, and 17% is a benchmark. 42 He said staying within that policy helps the County with the rating agencies. 43 Bonnie Hammersley agreed with Paul Laughton, and said it is just one of the measures 44 that rating agencies look at. She said Orange County does have strong fiscal policies; 45 however, it is a board policy, and, as such, can be changed. 46 Commissioner Jacobs said he believed that this policy is something the Board could 47 discuss in the fall as it is a very conservative policy. 48 Bonnie Hammersley said there was discussion on Tuesday night regarding the United 49 Way funding and she asked staff for an inventory list of what the United Way is funding. She 50 said it has been reported to her that the funding changes would not take effect until September.