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18 <br /> 1 ❖ Complete requisite dissolution forms to NC Secretary of State and Internal Revenue <br /> 2 Service <br /> 3 <br /> 4 Policies and Procedures Enhancements <br /> 5 ❖ All Financial Transactions to mimic County Financial Policies <br /> 6 ❖ Authorized Bank Signatures Defaults to County Manager and Finance Director <br /> 7 ❖ Create Small Business Fund in Tyler MUNIS Financial System to record all financial <br /> 8 transactions including tracking Accounts Receivables (A/R) <br /> 9 ❖ Escalate all outstanding AR balances and take appropriate collection actions <br /> 10 <br /> 11 Board Action Steps <br /> 12 ❖ Approve Staff recommendations <br /> 13 - Dissolution of SBL nonprofit <br /> 14 - Conformance to County Policies and Procedures <br /> 15 <br /> 16 Questions/Comments <br /> 17 <br /> 18 Commissioner Price asked if there will be an advisory board. <br /> 19 Gary Donaldson said yes, the Small Business Loan Committee. <br /> 20 Commissioner Bedford thanked staff for moving the data to the County, and she <br /> 21 supported the 0% interest loans. She said the Small Business Loan Committee is a great to <br /> 22 work with, and the public needs to be better informed that this program exists. <br /> 23 Commissioner Dorosin asked if the status of this committee, moving forward, could be <br /> 24 identified. <br /> 25 Gary Donaldson said the pandemic has put everything on pause, but once the status <br /> 26 quo returns, the committee will go back to giving out loans. <br /> 27 Commissioner Dorosin asked if this committee is the same one that is overseeing the <br /> 28 emergency loan program. <br /> 29 Chair Rich said no it is not, but there are some committee members that overlap <br /> 30 between the two groups. <br /> 31 <br /> 32 A motion was made by Commissioner Bedford, seconded by Commissioner Price for the <br /> 33 Board to: <br /> 34 1) Establish the Small Business Fund on the County's Books and Chart of Accounts; <br /> 35 2) Approve the transfer of the remaining balance of$510,000 from the Small Business <br /> 36 bank account to the County's bank account, of which $410,000 is to be used for <br /> 37 Emergency grants to small businesses and the remaining $100,000 and any residual <br /> 38 balances to be deposited in the County's bank account; <br /> 39 3) Approve the Staff and Small Business Loan Board recommendation for the eventual <br /> 40 dissolution of the nonprofit entity named the Orange County Small Business Loan <br /> 41 Company Program; and <br /> 42 4) Approve the Staff and Small Business Loan Board recommendation to make all 11 <br /> 43 existing loans with an outstanding balance of$286,508.17 as zero interest and <br /> 44 subsequent Small Business Loans as zero interest. <br /> 45 <br /> 46 <br /> 47 VOTE: UNAIMOUS <br /> 48 <br /> 49 d. Amendments to the Orange County Solid Waste Ordinance Regarding Disposal of <br /> 50 Construction and Demolition Waste at Waste and Recycling Centers <br />