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Agenda - 09-30-2003-7b
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Agenda - 09-30-2003-7b
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Last modified
4/22/2013 3:52:53 PM
Creation date
8/29/2008 10:51:44 AM
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BOCC
Date
9/30/2003
Document Type
Agenda
Agenda Item
7b
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Minutes - 20030930
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\Board of County Commissioners\Minutes - Approved\2000's\2003
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Overview of Current Financial Situation <br />It has been commonly understood by staff since about 1996 -1997 that limitations inherent <br />in our existing tipping fee based system of revenue generation would require the <br />implementation of new sources of supplemental revenue for the fund. The organizational <br />restructuring of the solid waste department interrupted an earlier serious attempt to <br />resolve this issue. The consideration of supplemental revenue sources is now at a critical <br />juncture given the anticipated lack of financial resources necessary to continue programs <br />at existing levels into the next fiscal year. Key indicators of current financial status are: <br />Current (FY 2003/04) Budget - $5,553,291 <br />Fund Balance used FY 2003/04 = $1,222,073 (22 %) <br />Equipment Replacement/Landfill Closure Reserves = zero <br />Outstanding Debt Balance = Approx. 1.95 million <br />Current Estimated Fund Balance = $865,098 (15.6 %) <br />Elements /Assumptions in Existing Solid Waste Management Plan <br />The existing solid waste reduction portion of the overall departmental long -term plan was <br />originally developed and endorsed in 1997, with the involvement/participation by a <br />highly qualified waste management consulting firm (Weston), a Citizens Advisory <br />Committee, landfill staff, Landfill Owners Group, individual elected boards, and County <br />citizens through public hearings, etc. While the plan has been endorsed by the three <br />towns and County (and submitted to the State) on two different occasions (including the <br />original endorsement in 1997), and also endorsed by the SWAB, the current 3 -year <br />update has been delayed due to the need to revisit certain elements within the plan. Staff <br />are working with the Board to schedule an opportunity to discuss the plan with and <br />receive guidance from the Board so that necessary modifications can be made, the plan <br />resubmitted to the Towns for their endorsement, and then the approved revised plan <br />resubmitted to the State. <br />Attachment C is an overview, originally prepared for the SWAB, of the current waste <br />reduction plan that has been developed to achieve the 61% waste reduction goal. <br />Review of SWAB Alternative Financing Recommendations <br />The SWAB was requested by the BOCC to examine supplemental financing options and <br />report their findings, possibly including recommendations. As the SWAB began its <br />evaluation of alternative financing options, a set of guiding principals were developed to <br />aid them in their work. These principals were: <br />• Endorsement of the Solid Waste Management Plan and Goal <br />• Need for non - profits to pay their fair share <br />• Create dedicated (restricted) reserves for closure and capital equipment purchase <br />• Maintain a healthy fund balance (12 -16 %) <br />• The solid waste system should be viewed as an integrated system <br />2 <br />
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