Item Coversheet
Brunswick County Board of Commissioners
ACTION AGENDA ITEM
October 7, 2019

Action Item # VII. - 2.

From:
Ann Hardy

Administration - Fiscal Year End June 30, 2019 County Manager's Report and Capital Project Funding (Ann Hardy, County Manager)

Issue/Action Requested:
Request that the Board of Commissioners receive information for Fiscal Year End June 30, 2019 and appropriate fund balance to fund projects planned in the 5 Year Capital Improvement Plan.
Background/Purpose of Request:

As in prior years, funding for several projects in the 5 Year Capital Improvement Plan were contingent on the fiscal year end results. The unassigned fund balance as a percent of expenditures plus transfers as of June 30, 2019 is 31%.  Additional transfers to the County Capital Reserves to fund planned projects of $8,425,021:

 

Courthouse Additions and Renovations $2,257,666 for total funding $11,951,550

Landfill Transfer Station $5,450,000

Landfill Closure Costs $417,355 for total funding of $9,934,355

Engineering for Waccamaw Multi-Purpose Facility $300,000

 

Funding these projects will reduce the unassigned fund balance to 27% which is within policy range to maintain 27%-34%

 

The remaining amounts for the Courthouse Cabling $1,600,000 and the Waccamaw Multi-Purpose Facility $3,500,000 are planned to be part of the approved budget for FY 2021 provided unforeseen circumstances do not arise.

Fiscal Impact:
Budget Amendment Required, Reviewed By Director of Fiscal Operations
Budget amendment is to appropriate fund balance $8,425,021 for transfer to the County Capital Reserves.
Approved By County Attorney:
Yes
County Manager's Recommendation:
Recommend that the Board of Commissioners receive information for Fiscal Year End June 30, 2019 and appropriate fund balance to fund projects planned in the 5 Year Capital Improvement Plan.
ATTACHMENTS:
Description
CAFR 2019 Management Report
20191007 Budget Amendment CIP planned projects funding reserve.pdf
20191007 Budget Amendment CIP planned projects funding.pdf