| | | | | | | |  | Brunswick County Board of Commissioners
ACTION AGENDA ITEM
October 4, 2021 |
Action Item # VII. - 1. From:
Randell Woodruff
| Administration - Fiscal Year-End June 30, 2021, County Manager's Report and Capital Project Funding (Randell Woodruff, County Manager) |
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| | | | | | | | Issue/Action Requested:
Request that the Board of Commissioners receive information for Fiscal Year End June 30, 2021, and considers an appropriation of fund balance to pay-go future projects planned in the Five Year Capital Improvement Plan. |
| | | | | | | | Background/Purpose of Request:
There are several projects identified in the 5 Year Capital Improvement Plan. As in past years, the county strives to maximize the use of pay-as-you-go financing for capital projects to minimize debt levels and is contingent on the fiscal year-end results. The unassigned fund balance as a percent of expenditures plus transfers as of June 30, 2021, is 43%.
To continue pay-go funding for the County Capital Improvement Plan Projects and to implement the recommendations identified in the space and facility needs study that is underway, an additional $20 million transfer to the County Capital Reserves will reduce the unassigned fund balance to 34% based on FY 2021 expenditures which is within policy goal of maintaining 27% - 35%. |
| | | | | | | | Fiscal Impact:
Budget Amendment Required, Reviewed By Director of Fiscal Operations
Budget amendments are to appropriate fund balance of $20,000,000 for transfer to the County Capital Reserves
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| | | | | | | | Approved By County Attorney:
Yes |
| | | | | | | | County Manager's Recommendation:
Recommend the Board of Commissioners receive information for Fiscal Year End June 30, 2021, and considers an appropriation of fund balance to pay-go future projects planned in the Five Year Capital Improvement Plan. |
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