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5 <br /> revenue source, Inventories Reimbursements . This revenue source is <br /> approximately $800, 000 for Orange County. Under the proposed funding <br /> plan, the inventories reimbursements would be paid to local governments <br /> in two installments : GO% of the distribution by August 31 and the <br /> remaining 40% by April 30 . <br /> While it would be desirable for the State to find some "hold harmless" <br /> provision to keep Orange County from experiencing an apparent revenue <br /> shortfall, we do not think there would be a serious adverse impact on <br /> the County' s financial position if the legislation passes as proposed. <br /> Ken Chavious has discussed the potential impact of this legislation <br /> with an analyst at Moody' s, and was told that the changes would likely <br /> not hurt the County' s bond rating. While there would be a significant <br /> reduction in the County' s total fund balance, there would be no change <br /> in the available undesignated fund balance in the General Fund. We <br /> will be prepared to explain and demonstrate the accounting conventions <br /> that make this so at the May 3 Commissioners' meeting. <br /> Conclusions <br /> I hope this information is helpful . We will be prepared to, further <br /> share or explain any of this information presented here at the <br /> Commissioners' next meeting. <br /> • <br />