Agenda 03-19-24; 8-a - Minutes - Laserfiche WebLink

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13 1 Commissioner Portie-Ascott asked what the consequence is for the audit finding. 2 Tim Lyons said NCDHHS may come to investigate the issue further, but as far as the audit 3 is concerned, it does not rise to the level of a material weakness and would just continue to be a 4 single audit finding if remained unchanged in the future. 5 Commissioner Fowler asked if money given to Sportsplex is being paid back to the county. 6 Bonnie Hammersley said yes and indicated that will be reflected in the current budget 7 year. 8 Commissioner Hamilton asked about the unrestricted net position in the Solid Waste 9 enterprise fund. 10 Tim Lyons said in enterprise funds there are assets, liabilities, and net positions. He said 11 the net positions are what is leftover. In proprietary funds there are multiple classes of net position, 12 and the one that is not shown there is net investment and capital assets, which is what is left over 13 after deducting liabilities from assets, but some of what's left is tied up in capital assets and is not 14 available for spending. He said unrestricted net position is what is left after considering those 15 types of costs, so essentially current assets available to be spent on the operation. 16 Commissioner Hamilton said that is helpful to point out because there looks to be a 17 negative cash flow in 2023, but in fact there is a higher unrestricted net position meaning there is 18 capacity to deal with those changes and flows. 19 Tim Lyons explained that the negative cashflow has to do with change in pension and 20 OPEB liabilities. 21 Chair Bedford asked about the $5,000 capitalization limit. She said it seems like a small 22 dollar amount. 23 Tim Lyons said in a county Orange County's size, $5,000 does seem low for a tangible 24 asset. He said it would be okay to leave it at that level, for tangible assets, but would recommend 25 the threshold for leases and SBITAs to be higher because otherwise immaterial leases and 26 SBITAs will have to be tracked and that is not helpful or useful information in the financial 27 statements. 28 Chair Bedford thanked the auditors and the Finance Department for their work. 29 30 5. Public Hearings 31 None. 32 33 6. Regular Agenda 34 a. Approval of a Professional Services Contract with Thomas & Hutton Engineering to 35 Provide Civil Design Services for a Greene Tract Master Plan and Approval of Budget 36 Amendment#5-A 37 The Board received a historical perspective on activities related to the development of the Greene 38 Tract; discussed and considered approving a new design services proposal to create a 39 development Master Plan for the Greene Tract; and considered approving Budget Amendment 40 #5-A to provide for the total cost of the project. 41 42 BACKGROUND: The Greene Tract is located east of the Rogers Road community within the 43 Town of Chapel Hill's extra-territorial jurisdiction (ETJ). Of the 164-acre parcel, 104 acres is jointly 44 owned by Orange County/Chapel Hill/Carrboro and 60 acres is owned by Orange County 45 (Headwaters Preserve). Over the last 20+ years, the three jurisdictions have invested significant 46 resources to identify and support the goals for the Greene Tract as a resource for the Rogers 47 Road community and the residents of the two towns and Orange County, all of which can be 48 found on the County's dedicated Greene Tract project page and dynamic StoryMap, but featuring 49 the following: 50