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. |