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Fr ­ <br />MAY .2 31999 I1 �MrI � C fJ) <br />POOK y �. Jl.>ad� <br />population has grown from 56,000 in 1979 to 87,512 in 1988 and <br />the estimate for 1989 is 92,500 people. <br />Finance Director Fry stated that'the only other items he <br />would like to go through quickly are as follows: <br />Page 105 explains the different agencies and trust funds, and <br />this includes, the Board, the Clerk, the Sheriff, the Tax <br />Collector and the Property Appraiser, followed by their Combining <br />Balance Sheet. <br />Pages 112-115 is a Schedule of the General Fixed Assets of the <br />County, and these do not include the fixed assets of the <br />Enterprise Funds. <br />Page 120 to the end of the Financial Section are Statements for <br />the Board of County Commissioners and each one of the Constitu- <br />tional Officers. <br />Next is the Statistical Section and then the Compliance Section. <br />COPY OF THE COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR FISCAL YEAR <br />ENDED 9/30/88, IS ON FILE 1N THE OFFICE OF CLERK TO THE BOARD. <br />Commissioner Scurlock still wanted more answers on the bond <br />coverages. He happened to know the answers, but felt all the <br />Commissioners need to understand the answers so that we can <br />explain it to the public when the question is presented. <br />Auditor Christine Hill of Coopers & Lybrand noted that when <br />you look at coverages, you look at one point in time, and when <br />you set rates, you are trying to look forward into the future and <br />take into account bond issues that aren't even on the books yet. <br />In the case of the Landfill, we had a new bond issue that we <br />haven't had to start funding yet, but we implemented rates in <br />anticipation of those required payments. Ms. Hill further noted <br />that before you go to the bond market, you want to demonstrate <br />that you already have mastered the ability to raise the necessary <br />funds and generate the revenue to pay off the bonds. She agreed <br />that unless you understand the entire process, you just look at <br />the schedule and think the rates are too high because you do not <br />consider what is going to occur in the future. She felt the only <br />38 <br />