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HomeMy WebLinkAboutMinutes - 2009.09.24 - 36384TOM MIDDLETON Chairperson MIKE GINGELL Vice Chairperson TIM GREIMEL Minority Vice Chairperson September 24, 2009 Chairperson Middleton called the meeting of the Finance Committee to order at 9:32 a.m., in the Board of Commissioners' Committee Room A, Commissioners' Wing, County Service Center, Pontiac, Michigan. COMMITTEE MEMBERS PRESENT Tom Middleton, Mike Gingell, Tim Greimel, Sue Ann Douglas , Christine Long, Jeff Potter, David Potts, Shelley Taub, Helaine Zack, David Coulter, David Woodward COMMITTEE MEMBERS ABSENT : None. OTHERS PRESENT EXECUTIVE OFFICE Gerald Poisson, Deputy Executive FISCAL SERVICES Tim Soave, Manager LaVerne Smith, Supervisor Nancy Fournier, Chief MANAGEMENT & BUDGET Laurie Van Pelt, Director BOARD OF COMMISSIONERS Lawrence Doyle, Administrative Director Helen Hanger, Sr. Committee Coordinator 3. PLEDGE OF ALLEGIANCE (Waived. The pledge will be done at the 9:30 a.m. Board of Commissioners’ meeting.) 4. PUBLIC COMMENT None. 5. TRI-PARTY ROAD IMPROVEMENT PROGRAM – FUNDING AND PROJECT The resolution would continue support of the discretionary Tri -Party Road Improvement Prog ram in accordance with the provisions and restrictions of MCL 247.121. The Rules of Policy to continue the program are outlined in the resolution. Funding will be established with the Fiscal Year 2009 Year -End Financial Report and will be derived from a return of Oakland County provided Tri-Party Road Improvement Program funds held by the Oakland County Road Commission that have not been matched by a CVT appropriation and an executed local financing agreement for a specific project. These funds shall be returned on or before September 30, 2009. An additional appropriation of $1 million will also be placed in the Tri-Party Program General Fund designation. Funds will be authorized for movement from this fund OAKLAND COUNTY BOARD OF COMMISSIONERS 1200 N. TELEGRAPH ROAD, PONTIAC, MI 48341-0475 Telephone (248) 858 -0100 FAX (248) 858-1572 FINANCE COMMITTEE Sue Ann Douglas Christine Long Jeff Potter David Potts Shelley Taub Helaine Zack David Coulter David Woodward FINANCE COMMITTEE Page 2 September 24, 2009 balance as outlined in the resolution. Commissioner Gingell explained that this proposal had been developed in collaboration with the Administration and the Road Commission for Oakland County. Greimel moved to report to amend the seventh BE IT FURTHER RESOLVED paragraph of the resolution as follows. BE IT FURTHER RESOLVED that an additional $1.0 $2.25 million from the Total Officially Reported Estimated Favorability for FY 2009 of $9,282,614 will be added to the Tri-Party Program designation (the designated General Fund Tri-Party Program fund balance) with the FY 2009 year end financial closing for use as provided herein during FY 2010. Supported by Coulter Roll Call Ayes: Greimel, Zack, Coulter, Woodward Nays: Douglas, Long, Potter, Potts, Taub, Middleton, Gingell Motion failed. Greimel moved to report to amend the fourth BE IT FURTHER RESOLVED paragraph to strike the paragraph 4 and insert language as follows. BE IT FURTHER RESOLVED that any discretionary Oakland County appropriation in support of the Tri-Party Road Improvement Program sha ll be distributed only from the designated General Fund Tri -Party Program fund balance and may be made only after completion of all of the following: 1. The Road Commission for Oakland County (RCOC) and an individual city, village, or township (CVT) have identified a specific project and said project is ready to be undertaken immediately; and 2. The RCOC has appropriated its 1/3 share of the funding for the project and transferred said appropriation to a specific project account; and 3. The CVT has authorized its 1 /3 share of the funding for the project and has executed a written contract for payment with the RCOC; and 4. The Commissioner(s) representing the CVT requesting the project submits to the Board of Commissioners General Government Committee and Finance Co mmittee a resolution authorizing the appropriation of the County’s 1/3 share of the project from the General Fund Designated Fund Balance for Tri -Party Program. The resolution shall be approved by both Committees and the full Board before any funds may be released from the Tri-Party Program designation account. BE IT FURTHER RESOLVED that upon the fulfillment of the above -listed conditions, including agreement between the RCOC and the CVT on funding the project, Oakland County shall automatically distribut e its 1/3 share of the project’s cost. Supported by Zack. FINANCE COMMITTEE Page 3 September 24, 2009 Roll Call: Ayes: Greimel, Zack Nays: Douglas, Long, Potter, Potts, Taub, Coulter, Woodward, Gingell, Middleton Motion failed. Taub moved approval of the attached suggested Fiscal Note. Suppor ted by Long. Main motion carried unanimously on a roll call vote. 2. BOARD OF COMMISSIONERS – OAKLAND MICROLOAN PROGRAM The resolution would create a Micro-Loan Program in Oakland County. This program is made available through the U.S. Small Business Administration to provide very small loans to start-up, newly established or growing small businesses. Funds are made available to nonprofit community based le nders (intermediaries) which, in turn, make loans available to eligible borrowers in amounts up to a maximum of $35,000 with loan repayment periods of up to five (5) years. Eligible intermediaries may be a quasi- governmental economic development corporation. The Department of Economic Development and Community Affairs shall develop a Micro -Loan Program and shall bring the proposed program back to the Board of Commissioners (BOC) not later than 60 days after this resolution is adopted. Any contract for services shall also be brought to the BOC for approval. Any contract with an existing nonprofit c ommunity based lender (intermediary) shall include a non -supplanting provision mandate to insure that the County’s new investment does not diminish the amount of loan awards currently being conferred in Oakland County. Funds will be transferred from the D esignated Fund Balance for the Board of Commissioners’ Projects to a designation for the Microloan Program. Budget Plans for FY 2011 and 2012 will each include a designation of $75,000 for the Microloan Program Loan Loss Reserves and those designations wi ll be done with the FY 2010 and FY 2011 Year-End Financial Reports resolutions. Woodward moved approval of the attached suggested resolution. Supported by Gingell. Motion carried unanimously on a roll call vote. COMMUNICATIONS None. OTHER BUSINESS / ADJOURNMENT There being no other business to come before the committe e, the meeting was adjourned at 9:49 a.m. ________________________ _______________________________ Helen A. Hanger Lawrence M. Doyle Senior Committee Coordinator Adminis trative Director NOTE: The foregoing minutes are subject to Committee approval.