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APR 181999 <br />BOOK 76 PAGE 677 <br />TO: Members of the <br />Board of County Commissioners <br />DATE: April 12, 1989 <br />SUBJECT: FINANCIAL ADVISORY 1f9 <br />COMMITTEE RECOMMENDATION <br />THROUGH: Don C. Scurlock <br />County Commissioner <br />FROM: Joseph A. Baird <br />OMB Director <br />DESCRIPTION AND CONDITIONS <br />The Financial Advisory dommittee approved the surplus cash balance as <br />of the beginning of the 1988/89 fiscal year be used for the <br />following: <br />Priority'1 <br />Priority 2 <br />Priority 3 <br />Priority 4 <br />Priority 5 <br />Priority 6 <br />Priority 1 <br />RECOMMENDATION <br />GENERAL FUND <br />Seed Money Sales Tax $1,500,000 <br />South County Park - Land 900,000 <br />Working Capital 500,000 <br />Self Insurance 400,000 <br />$urricane Fund 500,000 <br />BCC Computer 343,558 <br />TOTAL $4,143,558 <br />I.S.T.U. <br />Petition Paving $1,500,000 <br />Working Capital 647,455 <br />TOTAL $2,147',455 <br />Staff concurs with the Financial Advisory Committee's <br />recommendations. <br />Commissioner Scurlock noted that there was a great concern <br />that this surplus could easily be frittered away. There also was <br />concern that if the surplus we were fortunate to have this year <br />were to be used for operating expenses, those expenses will be <br />there again next year, and then you are faced with additional ad <br />valorem taxes to continue the programs at the level of the <br />previous year. He felt over all the Committee took a very <br />conservative approach. The recommendation sets out as Priority 1 <br />to place seed money for our capital projects since there will be <br />some time delay between receiving our money and the actual <br />38 <br />