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17 <br /> Slide #25 <br /> General Government <br /> • Budget & Finance <br /> Revised Fund Balance and Flow of Funds Policies f'eer Csomparison <br /> srunnWkk 2c%mininium urimsigned Policy,27-35%target 45.C% <br /> 6++rK9mb* 15Sf-MUmmignedMnge 253% <br /> caberrua 15%Minimum uns&Wned Polity 22.5% <br /> Durham 16%Mlnlnxmn UnxWned Polley-35%Goal 23.1% <br /> Famyth 1.4%Minimum Unassigned Polley 19.5% <br /> GUIIford 8%Minimum Unw�rAned Policy15%-25%Goal Range 20.7% <br /> I redel I um minlrnum Unassigned Polity 30.9% <br /> M4Kkh-nburg 8%MinirnumUnwAigneditky 22.8% <br /> rvrxrH&rwver 18%-21%Unassigned eange 22.09E <br /> LJFII#rn 20#bAvadable Minimum Pclli€y 1%. <br /> Wektr 3C%Ava"ble Mrn.nurn Pally 0%* <br /> rm4a 16%Mlnlnwm Unassigned Polity 26.5% <br /> 4 <br /> Union and VW*&CovMy Ivy pokVcommlklh*w ava+abIt fiwbd ballwKc ORANGE COUNTY <br /> 25 MORT1 1 CARC}L]h1A <br /> Commissioner Hamilton said she is open to having a range but wants to consider not <br /> deciding ahead of time where excess of 20% will go. She said that as they talk about not locking <br /> themselves in, they would not want to lock into what would have to be done with the funding. <br /> Bonnie Hammersley said she understands and the reason for this suggesting the <br /> $250,000 for OPEB is so there is a plan when they talk to rating agencies. She said that anything <br /> else would be the Board's decision. <br /> Commissioner Hamilton said she would like to understand that need better because they <br /> have a great rating and policies, so to what extent is not having a plan impacting our rating. <br /> Bonnie Hammersley said it can impact and they want to show they are fiscally strong, and <br /> strong management is having plans in place. She said that if there is not a plan, they will ask. <br /> Commissioner Hamilton said she would like to look at alternative plans rather than be <br /> locked in. <br /> Vice-Chair McKee asked what the OPEB liability is. <br /> Kirk Vaughn said $132 million. <br /> Vice-Chair McKee said it is almost double what it was when he came on the Board. He <br /> said that is why he is concerned with not having a plan. He said that he does not have an issue <br /> discussing alternate plans, but he is not convinced they can continue to ride it out without a plan <br /> to prevent continued escalation. <br /> Commissioner Greene said she agrees with Vice-Chair McKee that this is an obligation <br /> that they have. She said if anything, this plan might not ever reach 20% in any given year so this <br /> is a reasonable and modest plan to at least try to keep up with the looming obligation. <br /> Vice-Chair McKee said he would prefer to address this without tying it to the fund balance. <br /> He said that they need to start addressing it in with some consistency. <br /> Commissioner Richards said her question was around the range. She said that she had <br /> not seen the number of the liability before, and she agrees that having a plan is good and she is <br /> questioning the range and the need to not have a point certain. <br /> Travis Myren said the examples are of one-time expenditures where fund balance would <br /> be appropriate. <br />