HomeMy WebLinkAbout2006-08-28-Meeting Agenda
Finance Committee Meeting Committee Room- 8/28/2006- 2:30 PM
FINANCE
1. Approve funding for the August 8, 2006 General Primary
Runoff.
Attachments
2. Authorize Sutherland, Asbill to Act as Bond Counsel for
and Merrill Lynch to Underwrite and prepare a Bond
Purchase Agreement for the Refunding Bonds from the
Swaption Agreement Entered into on June 2, 2004.
Attachments
3. Motion to approve the transfer of existing funds within
the Augusta Municipal Golf Course budget.
Attachments
4. Motion to approve the purchase of an ad in the October
'06 issue of the Georgia County Government Magazine
"Family Album". Full page $600 2/3 page $450 1/2 page
$400
Attachments
5. Discuss process for homestead exemptions. (Requested
by Commissioner Bowles)
Attachments
6. Presentation by Lorna Barett regarding a public statement
on behalf of restaurants in Augusta concerning Board of
Health fees. (Requested by Commissioner Bowles)
Attachments
7. Discuss the membership and cost of various organizations
and associations for each commissioner. (membership
dues, fees, etc.) (Requested by Commissioner Grantham)
Attachments
8. Consider the sale of property at 819 Camellia Road.
(Referred from August 15 Commission meeting)
Attachments
9. Consider the sale of property on Damascus Road to Attachments
www.augustaga.gov
Augusta State University. (Referred from August 15
Commission meeting)
10. Report from the Administrator/staff regarding State-paid,
County-reimbursement for employees in the District
Attorney's Office. (Referred from August 7 Finance
Committee)
Attachments
Finance Committee Meeting
8/28/2006 2:30 PM
8/8/06 Runoff Funding
Department:Board of Elections
Caption:Approve funding for the August 8, 2006 General Primary
Runoff.
Background:Runoff is required by law as a continuation of the July 18,
2006 General Primary.
Analysis:State Mandate that must be funded.
Financial Impact:$55,000
Alternatives:None
Recommendation:Approve funding in the amount of $55,000
Funds are
Available in the
Following
Accounts:
This is a non budgeted item. Funding will have to be secured
from Contingency Account (101101110/6011110).
REVIEWED AND APPROVED BY:
Finance.
Administrator.
Clerk of Commission
ELECTION COST WORKSHEET
AUGUST 8, 2006
GENERAL PRIMARY RUNOFF
ITEM TOTAL COST
Poll Worker Salary 39,000.00
Poll Worker Training
Technical Support 160.00
Testing of Equipment 300.00
Temporary Employees (Daily)
Election Night Workers
and Delivery Crew
2750.00
Security 650.00
Staff Overtime/Comp Hours
Custodial Pay 200.00
Building Rental 3000.00
Truck Rental 2000.00
Printing – Absentee Ballots 5000.00
Food 250.00
Mileage 150.00
Miscellaneous Supplies 500.00
Advertising 40.00
Postage – Absentee/Poll Worker 1000.00
TOTAL ESTIMATED COST 55,000.00
Finance Committee Meeting
8/28/2006 2:30 PM
Authorize Bond Counsel and Underwrite and Bond Purchase Agreement
Department:Utilities, N. Max Hicks, Director
Caption:Authorize Sutherland, Asbill to Act as Bond Counsel for and
Merrill Lynch to Underwrite and prepare a Bond Purchase
Agreement for the Refunding Bonds from the Swaption
Agreement Entered into on June 2, 2004.
Background:The Commission entered into an agreement with Merrill
Lynch Capital Services on June 2, 2004 to enter into a
Swaption on the 1996 and 1997 Water & Sewer Revenue
Bonds. One-third of Bond Counsel fees on behalf of Augusta
were already paid for work in preparing the initial agreement.
The agreement provided for payments to Augusta Utilities
totaling $2,121,000 starting with $121,000 on June 16, 2004
and $500,000 annually on October first of each year from
2004 through 2007. This payment sold an option to Merrill
Lynch to enter into a swap with Augusta on the call date of
the bonds, which is 10/1/06. Merrill Lynch had a one-time
opportunity to exercise that option, by 8/3/06, which would
result in Augusta issuing variable rate refunding bonds. That
option was officially exercised on 8/3/06. Augusta needs to
name the Bond Counsel and Underwriter for the refunding
issue and to authorize a Bond Purchase Agreement with the
Underwriter.
Analysis:Augusta entered into this transaction two years ago and has
the obligation to issue refunding Bonds and make Swap
payments per the agreement. Approximately one-third of the
Bond Counsel fees were already paid to Sutherland, Asbill to
perform the requirements in 2004, and Merrill Lynch is
familiar with Augusta and has underwritten the last three
Bond issues for Utilities. Since this transaction and
applicable financial information has to be compiled before
the issue, scheduled for October 2, 2006, it would be most
effective to use Sutherland, Asbill to finish as Bond Counsel
and Merrill Lynch as Underwriter.
Financial Impact:There will be no out-of-pocket costs up-front for this
transaction, however the true cost of the Swaption is the
difference, if any, between the $2.1 million scheduled
payments and any surplus or deficit in the swap payments to
Merrill Lynch.
Alternatives:1) Approve this item and provide for a timely bond issuance.
2) Do not approve this item, which would delay the
refunding bond issue which could result in extra costs due to
market fluctuations.
Recommendation:We recommend the Commission authorize the Administrator
to engage Sutherland, Asbill as Bond Counsel and Merrill
Lynch as Underwriter and approve the execution of a Bond
Purchase Agreement with Merrill Lynch, pursuant to which
Merrill Lynch will underwrite the Refunding Bonds from the
Swaption Agreement entered into on June 2, 2004.
Funds are
Available in the
Following
Accounts:
N/A
REVIEWED AND APPROVED BY:
Finance.
Procurement.
Disadvantaged Business Enterprise.
Administrator.
Clerk of Commission
Finance Committee Meeting
8/28/2006 2:30 PM
Budget transfer - Golf Course
Department:Recreation and Parks - Tom F. Beck, Jr. Director
Caption:Motion to approve the transfer of existing funds within the
Augusta Municipal Golf Course budget.
Background:The golf course operates as an enterprise fund to pay for all
expenses related to the golf course, including charges for
water to irrigate the course, paid to the Augusta Utilities
Dept. The golf course has been charged, as of August 10,
2006, $54,215 for water for golf course irrigation, which is
necessary to maintain the course. The budgeted amount for
2006 for water charges was $45,000.
Analysis:Based on projections for water use/charges thru the end of
the year, another $35,000 needs to be transferred to that
account. Funds are available in part time salaries within the
approved golf course account that are being requested to be
shifted over to pay for these necessary water charges to
Augusta Utilities. No part time time employees will be laid
off as a result of this transfer.
Financial Impact:transfer: $35,000 from 566-06-1451 5112110(part time
salaries) $35,000 to 566-06-1451 5312110(water charges)
Alternatives:1. To deny, resulting in a lack of funds to irrigate the golf
course properly. 2. To approve
Recommendation:#2 - to approve
Funds are
Available in the
Following
Accounts:
566-06-1451 5112110(part time salaries)
REVIEWED AND APPROVED BY:
Finance.
Administrator.
Clerk of Commission
Finance Committee Meeting
8/28/2006 2:30 PM
Georgia County Government Magazine
Department:Clerk of Commission
Caption:Motion to approve the purchase of an ad in the October '06
issue of the Georgia County Government Magazine "Family
Album". Full page $600 2/3 page $450 1/2 page $400
Background:Since 1999 Augusta Richmond County has participated in
the Family Album issue of the Association of County
Commissioners of Georgia (ACCG)-Georgia County
Government Magazine.
Analysis:
Financial Impact:Full page $600, 2/3 page $450 or 1/2 page $400
Alternatives:Disapprove purchase of ad.
Recommendation:Approve purchase of ad and fund from Commission "Other"
account or Publication Quarterly account.
Funds are
Available in the
Following
Accounts:
REVIEWED AND APPROVED BY:
Clerk of Commission
Finance Committee Meeting
8/28/2006 2:30 PM
Homestead Exemption
Department:Clerk of Commission
Caption:Discuss process for homestead exemptions. (Requested by
Commissioner Bowles)
Background:
Analysis:
Financial Impact:
Alternatives:
Recommendation:
Funds are
Available in the
Following
Accounts:
REVIEWED AND APPROVED BY:
Clerk of Commission
Finance Committee Meeting
8/28/2006 2:30 PM
Lorna Barett
Department:Clerk of Commission
Caption:Presentation by Lorna Barett regarding a public statement on
behalf of restaurants in Augusta concerning Board of Health
fees. (Requested by Commissioner Bowles)
Background:
Analysis:
Financial Impact:
Alternatives:
Recommendation:
Funds are
Available in the
Following
Accounts:
REVIEWED AND APPROVED BY:
Clerk of Commission
Finance Committee Meeting
8/28/2006 2:30 PM
Organization Membership and Costs
Department:Clerk of Commission
Caption:Discuss the membership and cost of various organizations
and associations for each commissioner. (membership dues,
fees, etc.) (Requested by Commissioner Grantham)
Background:
Analysis:
Financial Impact:
Alternatives:
Recommendation:
Funds are
Available in the
Following
Accounts:
REVIEWED AND APPROVED BY:
Clerk of Commission
Finance Committee Meeting
8/28/2006 2:30 PM
Property at 819 Camellia Road
Department:Clerk of Commission
Caption:Consider the sale of property at 819 Camellia Road.
(Referred from August 15 Commission meeting)
Background:
Analysis:
Financial Impact:
Alternatives:
Recommendation:
Funds are
Available in the
Following
Accounts:
REVIEWED AND APPROVED BY:
Clerk of Commission
Finance Committee Meeting
8/28/2006 2:30 PM
Property on Damascus Road
Department:Clerk of Commission
Caption:Consider the sale of property on Damascus Road to Augusta
State University. (Referred from August 15 Commission
meeting)
Background:
Analysis:
Financial Impact:
Alternatives:
Recommendation:
Funds are
Available in the
Following
Accounts:
REVIEWED AND APPROVED BY:
Clerk of Commission
Finance Committee Meeting
8/28/2006 2:30 PM
State-Paid, County-Reimbursed Employees
Department:District Attorney's Office - Daniel J. Craig, District Attorney
Caption:Report from the Administrator/staff regarding State-paid,
County-reimbursement for employees in the District
Attorney's Office. (Referred from August 7 Finance
Committee)
Background:On July 31st, one of my highest paid secretaries in the office
advised she was leaving to go to work for the Public
Defender's Office for substantially more money. Her annual
salary is $30,904 and she will be making a lateral move
insofar as the job description at the Public Defender's Office.
She also noted that the position for which she has been hired,
like all staff positions in the Public Defender's Office, is State
paid, meaning it entitles the employee to participate in the
more generous, State-administered Employees' Retirement
System of Georgia (ERS). The County presently pays the
employer's portion of the cost of such participation.
Analysis:The secretary referenced has worked in this office for 19.5
years. This occurrence is evidence of the problems with the
Public Defender's Office being allocated an unrestricted sum
of money without an accountability to Human Resources or
any limination on compensation per position. Without such
restrictions, the Commission can now see the unfairness that
we predicted two years ago. Since the employees of each
office are "similarly situated" within the contemplation of the
equal protection provisions of the constitution, the County is
vulnerable to any claim by my employees for disparate pay
and benefits. This is especially true in light of the willingness
of the Prosecuting Attorneys' Council to administer their pay
and benefits with reimbursement from the County.
Financial Impact:
The cost of transferring the administration of my employees'
pay and benefits to the Prosecuting Attorneys' Council will
increase the aggregate cost by approximately 3%, offset by
the cost savings to the County for not performing that
function.
Alternatives:None
Recommendation:Proceed with State-paid, County-reimbursement for every
employee who desires this change. We are currently awaiting
data from the Prosecuting Attorneys' Council which specifies
the employer cost. A Resolution requires consenting
signatures from each county in the circuit after which time, a
Contract will be drawn up. We anticipate this transition to
occur by October 2006.
Funds are
Available in the
Following
Accounts:
REVIEWED AND APPROVED BY:
Finance.
Administrator.
Clerk of Commission