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15 <br /> 1 Commissioner Dorosin asked if the next step could be identified. <br /> 2 Craig Benedict said as of now the 2002 resolution is firm, but a discussion on how to <br /> 3 change the original resolution could be done at the AOG. He said staff cannot move forward to <br /> 4 suggest other uses until the 2002 resolution is changed, but staff can start plotting out options <br /> 5 to propose at the AOG. <br /> 6 Craig Benedict said it is good to hear from the community, and a report from the <br /> 7 Jackson Center will offer this insight. <br /> 8 Commissioner Dorosin said the Board will receive the report from the Jackson Center <br /> 9 and asked if the next step would be for all local governments to get together to discuss, or if <br /> 10 Orange County should propose a change option for local governments to discuss. <br /> 11 Commissioner Dorosin suggested getting the Jackson Center report next week and <br /> 12 bringing it back for discussion as part of decision tree options presented in the PowerPoint. <br /> 13 Commissioner Jacobs agreed. He suggested putting an action item on one of the <br /> 14 Board's agendas about a conservation easement for the 60-acre site. <br /> 15 Commissioner Rich said a timeframe must be put on everything. <br /> 16 Chair McKee said to get an action item for Commissioner Jacobs' request, and options <br /> 17 for the other parcel, put on an upcoming agenda. <br /> 18 Bonnie Hammersley said the 60 acres can be done anytime, and she will update all <br /> 19 Town Managers about this evening's discussion. <br /> 20 Chair McKee said a decision on the 60 acres will set a tone from the Board, and he <br /> 21 would like to make this decision sooner rather than later. <br /> 22 Chair McKee said to put options in another report, or agenda item, to discuss, <br /> 23 and feedback can be gathered at AOG. <br /> 24 <br /> 25 3. General Fund Unassigned Fund Balance Policy- 9:45PM <br /> 26 Gary Donaldson, Chief Financial Officer, said they met with the schools to develop a 5- <br /> 27 year plan for the fund balance. <br /> 28 Gary Donaldson made the following PowerPoint presentation: <br /> 29 <br /> 30 Work Session Update on Appropriate Level of Unassigned Fund Balance <br /> 31 Presentation to Orange County Board of County Commissioners <br /> 32 Gary Donaldson, Chief Financial Officer <br /> 33 September 8, 2016 <br /> 34 <br /> 35 Regular Finance Updates to BOCC and Manager <br /> 36 > Financial Reporting <br /> 37 • Quarterly Financial Report Provide General Fund Reserve Updates as part of <br /> 38 regular financial reporting <br /> 39 • New Five Year Financial Plan Provide County General Fund balance <br /> 40 information as part of the long-term financial planning <br /> 41 <br /> 42 Best Practices for Unassigned General Fund Balance <br /> 43 > The Government Finance Officers Association (GFOA) of U.S. and Canada: <br /> 44 • Updated the Best Practice on unassigned general fund balances in 2009 <br /> 45 • At a minimum an unassigned general fund balance of no less than 2 months of <br /> 46 regular general fund operating revenues or operating expenditures <br /> 47 • Equates to 16.7% of either general fund operating revenues or operating <br /> 48 expenditures <br /> 49 <br /> 50 Appropriate Use of Unassigned General Fund Balance <br />