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22 <br /> Commissioner Jacobs said he has been on this Board when the fund balance was <br /> 10%, and the County did not have a bad rating. <br /> Paul Laughton said he remembers that percentage as well, and the County had an AA <br /> rating. <br /> Commissioner Jacobs said the County needs a grander strategy than just the fund <br /> balance. He said he does not want to hoard taxpayers' money, especially with tax increases <br /> coming, and a new strategy is needed by the next fiscal year. <br /> Chair Dorosin suggested using this for discussion topic for the agenda at the BOCC <br /> retreat. <br /> Commissioner McKee said he finds that to be too late, and the Board needs to start <br /> developing a strategy to address the capital needs by their first meeting in the fall. He <br /> reiterated that this is a one-time fix, and the fund balance percentage cannot keep dropping. <br /> Commissioner Burroughs said a strategy is important. She said the County needs to <br /> try and keep its AAA bond rating, but she has been convinced by discussions with Davenport <br /> that the Board can go below 17% and keep its AAA rating. She agreed with Commissioner <br /> McKee that this change can only be done once. She said taxpayers give the County money <br /> for a reason and, if there is a level of savings that will keep the County fiscally responsible, the <br /> Board should not hoard the tax dollars. <br /> Commissioner Marcoplos said he has heard nothing that would make him worry about <br /> their AAA rating, and Orange County is not the only county that is looking at monies from its <br /> fund balance. <br /> Commissioner Marcoplos suggested going to 16% for the fund balance, which would <br /> be another $200,000 this year. He agreed that a grander strategy is needed. <br /> Commissioner Rich agreed with Commissioner Marcoplos about going to 16%. <br /> A motion was made by Commissioner Burroughs, seconded by Commissioner Rich to <br /> change the policy for their fund balance reserve to 16%. <br /> Commissioner Jacobs asked if the annual fund balance and bond rating for last 20 <br /> years could be provided. <br /> VOTE: UNANIMOUS <br /> 7. Reports <br /> NONE <br /> 8. Consent Agenda <br /> • Removal of Any Items from Consent Agenda <br /> • Approval of Remaining Consent Agenda <br /> A motion was made by Commissioner McKee, seconded by Commissioner Price to <br /> approve the Consent Agenda. <br /> VOTE: UNANIMOUS <br /> • Discussion and Approval of the Items Removed from the Consent Agenda <br />