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!r - <br />APR 18 19€9 <br />foo' 76 <br />'ACE 63t) <br />2nd, 3rd and 4th years. He will have specific recommendations at <br />budgettime. He further explained that when you get into self <br />insurance, you try to build your reserve over a period of time <br />until you reach a level that will sustain you for a good number <br />of years. You don't need to put all those funds in within the <br />first few years because usually the first three years, unless you <br />take a big hit, there is not a large drawdown; so, you have the <br />ability to build it up. That is what we are in the process of <br />doing, and the availability of these funds, gives us the ability <br />to make that fund a lot sounder a lot sooner. <br />Commissioner Eggert commented that she felt the Hurricane <br />Fund actually should be called a Disaster Fund. When you take <br />into account ALS and everything else where we are going to be <br />paying a lot of people if there should be a disaster, she asked <br />if the Administrator felt the funds suggested were enough. <br />Administrator Chandler noted that this actually is an <br />insurance policy, and he would recommend it because when you have <br />a hurricane (and it is only a matter of time until we do), it can <br />have a devastating effect on your operating funds because you <br />don't budget for those kind of expenses. He agreed the cost just <br />for the personnel you need to cope with something of that kind <br />can be substantial. <br />Commissioner Bird believed that if this disaster happens, <br />you simply tighten your belt and go to the capital items you were <br />going to have that year and somehow come up with the funds. <br />Administrator Chandler agreed the major impact would be that <br />we would pull down on our capital improvement project side to <br />offset that expense and divert some funds to the operating fund. <br />In further discussion, OMB Director Baird advised that the <br />City of Vero Beach has a hurricane fund and so does the City of <br />Hollywood. They did not have one when the last hurricane <br />occurred, and that is why they initiated that fund. <br />Commissioner Scurlock asked what that hurricane did to the <br />county when it hit, and OMB Director Baird advised that we had a <br />44 <br />