Agenda - 01-21-2016 - 6-a - Minutes

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5 1 Gary Donaldson said it was about $2.5 million. 2 Commissioner Burroughs asked if the Report to the Residents is a new initiative. 3 Gary Donaldson said it is new, but will be recurring with updated information going 4 forward. 5 Commissioner Burroughs referred to the management letter and asked if there could be 6 further clarification regarding the Other Post Employment Benefits (OPEB) underfunding. 7 Gary Donaldson said underfunding is a misleading statement. He said the County has 8 not taken formal action to have an irrevocable trust. He said the County is on target with its 9 contributions to the OPEB funding. 10 Commissioner Rich referred to the economic metrics and asked if the numbers for Blue 11 Cross and Blue Shield (BCBS) refer to their presence in Chapel Hill. 12 Gary Donaldson said at the time of the production of the report, the numbers were 13 accurate. He said since the report was produced, some BCBS employees have been relocated 14 to Durham. 15 Commissioner Rich said the East 54 are principal taxpayers and noted that it is one of 16 the County's largest, despite public criticism of the development. 17 Commissioner Rich referred to the Schedule of Findings and Costs and asked if there 18 were reasons that the housing voucher cluster deadline of March 31 was missed. 19 Gary Donaldson said there are a number of reports the finance department has to 20 produce, and he is looking to have a desk procedure manual with due dates which has not 21 existed before. He said the deadline was simply missed. He said the letter cited the housing 22 and urban development department, but it is a function of the finance department. 23 Commissioner Price asked if there is any leeway regarding the spending of the 24 unassigned fund balance. 25 Gary Donaldson said this is a rainy day fund for unexpected or catastrophic events. 26 Commissioner Price asked if the Board should plan on spending this extra fund balance 27 between now and the end of the fiscal year. 28 Bonnie Hammersley said staff would bring back a recommendation for the spending of 29 the $2.8 million of unassigned fund balance, as is done every year. She said the Board will be 30 asked to approve, amend or change the staff's recommendation. 31 Commissioner Dorosin asked if the excess funding is definitely going to be spent this 32 year, rather than folding it into the budget for next year. 33 Bonnie Hammersley said staff has yet to have any discussions regarding a 34 recommendation. She said that could be one of the recommendations, and the Board of County 35 Commissioners has the final decision. She said last year the funds were split between OPEB 36 and the social justice fund. She clarified that OPEB funds are for the health insurance benefits 37 of retirees. 38 Commissioner Dorosin said the report to the residents is a great thing, but noted it is 39 heavy on the finances. He suggested that going forward to report on other activity within the 40 County, like new businesses. He noted that almost all of the top employers are public 41 employers, and suggested adding a listing of the top private employers. 42 Commissioner Price said this is a great report. She asked when staff comes back with a 43 recommendation for the excess funds, if staff would also bring an overview of what was done 44 last year regarding the OPEB. 45 Commissioner Dorosin said the excess money is from last year, which was technically 46 part of FY 2014-2015. He suggested reviewing programming or items that were cut during that 47 fiscal year, which may be worth revisiting and possibly refunding. 48 Commissioner Rich said it is important to replenish the social justice fund. 49 Commissioner Jacobs said there has always been money in the social justice fund. He 50 suggested not spending money just because it is available, but rather putting excess funding 51 toward the next budget in order to assist the residents by lower taxes.