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17 <br /> 1 Slide #25 <br /> General Government <br /> • Budget & Finance <br /> ■ Revised Pund Balance and Flow of Funds Policies Peer Comparison <br /> Srunmwklc 2C%Mlnlr sfn Una&Wned Polley,27-35%target 415.0% <br /> e*WPDMb@ 15W 2C%Llassigrwd Range 26.3% <br /> Catrerrus 15%Mlnlnwwrr Una&Aned Policy 22.5% <br /> Durham 16%Mlnlmmfn Unassigned Paltry-35%Gaal 23.1% <br /> iormyth 14%Mlnlntium UnamAgned Polley 19.5% <br /> Ouillord 89&,Minirnvm Unassioned Policy IS%-2S%Goal Range 20.794 <br /> Lredem 1R%Mlnlm rnunasW.nedPolley 30-9% <br /> MqKkler`Wfj 8%Minirnum 4lnass�SnFd Policy 22,8% <br /> --IIewmerreruer 18FI—21%umasslgrkedRamp 22-D% <br /> Un1cm 2C Avaaable Onknurn Poky %%. _ <br /> W ke w%Avalahle vekknum Polity [I%* <br /> Lie 16%Mlnlrnum Unned Polley 163% <br /> UnIon and YM#r CovMy LNy pobcyc--ommit1ho-a a.mina 1_.--d b-3 s.-_n '(DR. ,NGE COUNTY <br /> 25 NC>tZ "11 11!1101-1IVA <br /> 2 <br /> 3 Commissioner Hamilton said she is open to having a range but wants to consider not <br /> 4 deciding ahead of time where excess of 20% will go. She said that as they talk about not locking <br /> 5 themselves in, they would not want to lock into what would have to be done with the funding. <br /> 6 Bonnie Hammersley said she understands and the reason for this suggesting the <br /> 7 $250,000 for OPEB is so there is a plan when they talk to rating agencies. She said that anything <br /> 8 else would be the Board's decision. <br /> 9 Commissioner Hamilton said she would like to understand that need better because they <br /> 10 have a great rating and policies, so to what extent is not having a plan impacting our rating. <br /> 11 Bonnie Hammersley said it can impact and they want to show they are fiscally strong, and <br /> 12 strong management is having plans in place. She said that if there is not a plan, they will ask. <br /> 13 Commissioner Hamilton said she would like to look at alternative plans rather than be <br /> 14 locked in. <br /> 15 Vice-Chair McKee asked what the OPEB liability is. <br /> 16 Kirk Vaughn said $132 million. <br /> 17 Vice-Chair McKee said it is almost double what it was when he came on the Board. He <br /> 18 said that is why he is concerned with not having a plan. He said that he does not have an issue <br /> 19 discussing alternate plans, but he is not convinced they can continue to ride it out without a plan <br /> 20 to prevent continued escalation. <br /> 21 Commissioner Greene said she agrees with Vice-Chair McKee that this is an obligation <br /> 22 that they have. She said if anything, this plan might not ever reach 20% in any given year so this <br /> 23 is a reasonable and modest plan to at least try to keep up with the looming obligation. <br /> 24 Vice-Chair McKee said he would prefer to address this without tying it to the fund balance. <br /> 25 He said that they need to start addressing it in with some consistency. <br /> 26 Commissioner Richards said her question was around the range. She said that she had <br /> 27 not seen the number of the liability before, and she agrees that having a plan is good and she is <br /> 28 questioning the range and the need to not have a point certain. <br /> 29 Travis Myren said the examples are of one-time expenditures where fund balance would <br /> 30 be appropriate. <br />