| | | | | | | |  | Brunswick County Board of Commissioners
ACTION AGENDA ITEM
October 3, 2022 |
Action Item # VII. - 1. From:
Steve Stone
| Administration - Fiscal Year-End June 30, 2022, County Manager's Report and Capital Project Funding (Steve Stone, County Manager) |
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| | | | | | | | Issue/Action Requested:
Request that the Board of Commissioners receive information for Fiscal Year End June 30, 2022, and to consider an appropriation of fund balance to pay-go future projects planned in the Five Year Capital Improvement Plan, for repair and maintenance projects, for parks improvements, and for an equipment purchase. |
| | | | | | | | 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, 2022, is 41%.
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, an additional $16.62 million transfer to the County Capital Reserves will reduce the unassigned fund balance to 38% based on FY 2022 expenditures which is above the County's policy goal of maintaining 27% - 35%.
Additional projects were presented to management during the FY 2023 budget process that held merit but could be postponed temporarily. These projects included repair and maintenance to county facilities, improvements to four County parks, and a capital equipment purchase. They are detailed as follows:
- $1.65 million of Repair and Maintenance projects to the Detention Center, Sheriff’s Office, and Building D as follows: Jail and Sheriff’s Office roof replacement at $1.2 million, Jail and Sheriff’s Office existing gas line replacement at $300,000, Detention Center Carbon Monoxide Detectors at $110,000, and Building D existing gas line replacement at $40,000. This funding by itself will not significantly reduce the unassigned fund balance percentage based on FY 2022 expenditures.
- $408,000 of operating improvements to the following parks: Dutchmen Creek Park at $240,000, Brunswick Nature Park at $46,000, Town Creek Park at $74,000, and Ocean Isle Beach at $48,000. This funding by itself will not significantly reduce the unassigned fund balance percentage.
- The purchase of a $1.2 million horizontal grinder in Solid Waste. Current equipment is unable to remain operational. Current grinding services are being fulfilled by contracting out the work. This funding by itself will not significantly reduce the unassigned fund balance percentage.
Total pay-go funding and additional identified projects will reduce the unassigned fund balance, but the percentage remaining would remain 38% based on FY 2022 expenditures (or 37% with currently approved fund balance appropriations) which is still above the County's policy goal of maintaining 27% - 35%. |
| | | | | | | | Fiscal Impact:
Budget Amendment Required, Capital Project/Grant Ordinance Required, Reviewed By Director of Fiscal Operations
Budget amendments are to appropriate fund balance of $16,620,000 for transfer to the County Capital Reserves, $1,620,000 for repair and maintenance projects, $408,000 for park improvements, and $1,200,000 for Solid Waste equipment. |
| | | | | | | | Approved By County Attorney:
Yes |
| | | | | | | | County Manager's Recommendation:
Recommend that the Board of Commissioners receive information for Fiscal Year End June 30, 2022, and to consider an appropriation of fund balance to pay-go future projects planned in the Five Year Capital Improvement Plan, for repair and maintenance projects, for parks improvements, and for an equipment purchase. |
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