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HomeMy WebLinkAbout012819pr Agenda Package - reviseHarnett County Board of Commissioners Planning Retreat January 28, 2019 CCCC Health Sciences Building Multipurpose Room 101 51 Red Mulberry Way, Lillington, NC The Harnett County Board of Education will join the Board of Commissioners for the morning session and lunch. 9:00 am Financial Presentation, Kimberly Honeycutt and Davenport & Company 10:00 am NW Harnett Small Area Study, Coley Price and Stewart Engineering 11:00 am Group Discussion 12:00 pm Growth Pressures, Administration Staff 12:15 pm Lunch 12:45 pm Recess/break 1:00 pm Year in Review, Paula Stewart 1:15 pm Legislative Priorities, Brian Haney 1:30 pm Budget Kickoff, Paula Stewart 2:00 pm Wrap-up/Adjourn C� V 0 J Discussion Materials Harnett County, North Carolina NORTH CAROLINA January 28, 2019 Topics for Discussion • Credit Rating Overview. • General Fund Balance. • Existing Tax Supported Debt Profile. — Key Financial Ratios and Financial Policies. — Debt Affordability. • Capital Funding Analysis. — Key Financial Ratios and Financial Policies. — Debt Affordability. • Department of Public Utilities Debt and Financial Profile. • Solid Waste Debt and Financial Profile. f-� 0 U 0 z 0 2 5 0 C S January 28, 2019 millfzlosa..imetou Credit Rating Overview 4 ,4,,, I4 t_A?OI INF ■ Moody's Observations Q) 0 a) O N c O 0 2 a 0 N N co a U .10 T 0 CDU — Credit Strengths i` O N 0 c6 2 0 O D (1) 0 C (p ti c -i O N t 0 5 Fitch Ratings a) 0 — Healthy reserves and cash levels c0 — Low pension cost 7-1 03 — Credit Challenges — Below average wealth levels — Elevated debt compared to national trends N ■ S&P Observations M — Weak economy; m m — Strong management; m m — Strong budgetary performance; — Very strong budgetary flexibility; — Very strong liquidity; — Strong debt and contingent liability profile; and — Very strong institutional framework score. i �,1' I r1 ISy,,, !II ,'I 1 11! 1 1 ! i II li i�I !�_ it 1 lIiiaill. I.. i;i # i, i' 1;1;1. '�, ri ri; 1 1 1 411{=? ! i Flt • it' ti1tII'I' !11 I11 1 I. 1 i it'l; 1 HIP 1i1Ei! IIL.'ii i pi Hi [dilli!Ili 1 11l i 0 Uy 0 z Harnett County. NC January 28, 2019 co LO darnett County, NC January 28, 2019 General Fund Balance General Fund Balance General Fund Balance as a %of Expenditures 0 CO N 0 O N 00 0 9 r O O O O O O O O O O Li; O 1n O 44 O u5 O C' M 0 N O + Rating Agency Available - Policy Floor (Unassigned) N i0 00 .0 O N <n O . 1) n n 01 v in 00 in N N fh CO M- -4 a 04 O C4 5 <C 00 M •7 Q F,O N N W CC 0 C et O 38278.000 N N M M M M M' O W t0 : 0 61• g N o'. N 0 00 O <il O O M G 4,1.1 O ti N M M.+ M o-.gl N .. <n 0) xN^ CO i0 V .moi U, M n CI moo x �c 000(0 01 0 O M N x (0 N 61 M 00 MM s x M M N A m n co 6 mm ., . O •O •• M - (� W O chi Coil N O n y tp N n= M N N V M N 04 a c,s ti •. N M v 0 0 4� - Policy Target (Unassigned) Unassigned Fund Balance as a % of Revenues • The County has adopted the following Fund Balance Policy: Harnett -Aa2 (2017) 0 0}� (V To m 0 LL a) x.411 N (13O E c= C .0 0 0 E 0 O 0 a) 0 +-+ (3 ((3 O m (n (6 O (6 O 0 0 0 (6 0 a) 0 a) O C`3 a) 0 a) 0 a (n (6 National 'Aaa' Median O 0 w (B a) 0 'a) 0 9- O L() 0 (6 O o - a) a) (3 0 (n 4- 0 0 (6 aJ 4— O a) (n O 0 Q) 0 National 'Aa1' Median O +-+ (o 0 0- a) 0 CB (0 CO O LL a) (n 0 CD CD CO (6 0 a) 0 O a) 0 w National 'Aa2' Median a) 0 O a) Q X w 0 LI- a.) LO 0 9- 0 O N NC Aaa Min: 5.7% 1 Max: 27.8% Lo m co 50 a H N 4 c_ N 0 c ca0 Q Q U Z NC 'Aaa' Median NC'Aa1' Median O 0 C CN O ai _c 0 O 0 oW + -0 >-0 0 Q) Q i O cn>, a) cu > +-' 0 o a) a)o-a co co 0 4— n w-+ ^0 W S= � ui 9— 0 Q) Q) (1) 0 O = 0 L "Q Q) 4(6 E (:6 O (6 -0 O a) +—, 0 0 C 10 O a) (6 0 a) 4- 0 a) O +0 > 0 � '0.10O O i (n 0 C 9- —I NC 'Aa2' Median O - O M Source: County CAFRs 0 z Harnett Cour January 28, 2019 0 4z 4 lanuary Z.IpTO Existing Tax Supported Debt a) 0 a) to (1) 0 • • CO U) X ted Debt Service 0 • • 10 -yr Payout (0 0) 0) C _a 0 G 0 150,506,223 18,620,544 14,219,623 rn 0 N (0 •-I N O N 0 rl O O m 0 0 e -r 00 00 N O N 0 N 0 N O 0 r- 00 c -I co 0? c -I 0 00 m r -I r -I CO M rn rn O O N co_ r N O N ti ti N M 00 CO N [S7 c -I N r` 10 N In M m r-1 ti r -I N N 0 N 0) r-- 10 10 N CO CO 1` ci 0 �-1 rn .-i N M 0 0 0 10 M N O N m c-1 00 N 00 O (0 r - co �-I 00 03 N 0 O N 11,410,894 N O N O N 0o (0 d' 03 m 10 N c -I 00 rn 00 0 r~ N 10 rn 0 N CO O 10 N O N m 00 co 11,726,549 10 m w N O O r- -1 e -I O 00 0 N N 00 0) 1n 0 O 00 1'- ti 0) 0 (0 10 m 00 O .-1 N 0 0 1n O N 03 ti r~ r - ti 00 00 N O N s£oZ mi L£OZ 9£OZ 9EOZ 1 VCOZ �- £EOZ ZEOZ LE. ZEOZ o£oZ 6Z0Z 9Z0Z LZOZ 9ZOZ 9ZOZ I ! 17ZOZ EZOZ ZZOZ ZZOZ OZOZ 6T O 0 0 0 0 0 0 0 0 0 0 0 X ON CO epi • •4' rN-I O 00 CO N O F- SU0i fl! Q 0 0 03 00 d' 00 ti 0) r - ti 0 00 10 O 00 0 00 O N 00 (0O ■ School Debt Q O o rn 1- N O O O .-i N 03 00 ti 00 l(7 00 0 Q 0 0 0 In N 0 0 0 I0 (0 r- 0 00 03 03 M m O N 00 0 N 0 co Estimated as of 6 •( .73 (I) a--+ 0 (B 0 0 0 00 M 00 0 0 O 00 co 00 0 c -I N O ti CO_ 0 0 r - m 0 O 0 10 0 0 0o e -I M 0 r- 00 M O Q O 0 O N rn LO m 0 0 e -I 00 I) r-1 00 m 0) m M 0 O 0 rn 0 rl .-I 0 °q. m O N CO121 LO c -I 0 N 00 0) N M 10 CO O N 0 O 0 0 co 11) O 00 1S) (0 m O O t-- (-4 N 0 O O O 0 0 0 0 0 N 10 N CO N N c -I 0 m m 0) In N 00 0 N Q 0 O rn d' O CO N ti (O r -I >` ti N r -▪ I c -I 00 00 0 N iii o 0 0 0 1- N co N 0 o 4- N. .-1 0 0 Par Amount 0) $110,240,387 School Debt $21,893,526 $18,372,309 $150,506,223 Z , and 2017 CAF co Harnett County, NC January 28, 2019 Existing Tax Supported Debt Policies Debt Service to Expenditures Debt to Assessed Value 10 Year Payout e D ▪ c N • O 00 fD N H N ci SEOZ - LEOZ — 9£OZ — SEOZ — VEOZ — coEZ ZEOZ TEOZ OEOZ 6ZOZ SZOZ LZOZ 9Z0Z 9ZOZ bZOZ EZOZ ZZOZ TZOZ ozoz 6TOZ * 0 a N O aEoz 1 L£OZ 9£OZ S£OZ ▪ 4EOZ • EEOZ ZEOZ TEOZ OEOZ — 6ZOZ — SZOZ LZOZ _ 9Z0Z 9ZOZ — VZOZ — EZOZ — ZZOZ SZOZ OZOZ 6TOZ O 0 0 0 0 0 0 o o O In q In 0 to q M N N .4 .4 0 0 SEOZ LEOZ 9EOZ SEOz b£oZ ££OZ ` ZEOZ TEOZ OEOZ 6Z0Z SZOZ LLOZ 9Z0Z SZOZ EZOZ ZZOZ TZ ozoOZz j 6TOZ o • 0 0 0 0 0 0 0 0 0 0 O o o o o o o o o o o O OI co 1,- CD ID C M N rl c 1 0 a 0 1 Hamett -Aa2 (20191 Harnett - Aa2 (2019) Harnett-Aa212019) National'Aaa' Median National 'Aa1' Median 1 National 'Aa2' Median NC 'Aaa' Median NC'Aa1' Median NC 'Aa2' Median 0 0 U) w 03 a) i. a0 N LE c 00 � a) a) C ) .n f. O- ( w LLJ N O > U aJ Q) _ U U )- > Q a) a) 03 (n +- _c a) a) 6) > 0 a0 o D = C N 0 ;,_, } U . (n LL. alX X Lu 1 1- E • Value ratio of 15.00%. National 'Aaa' Media National 'Aaa' Median National 'Aa1' Median National 'Aa2' Median NC 'Aaa' Median NC'Aaa' Median NC'Aa1' Median 0 0 N NC'Aa1' Median NC 'Aa2' Median 0 m NC' Aa2' Median O 0 c0 O 000 'an 0 c m O M .(1) as • w O (6 03 0 O O tH 0 c E cD CN 0 u) ' LJ -1 0) C w F ■ ■ nuary 28, 2019 a Z 0 shallbe retained In the Public following amount has been calculated. 65.00%441.571,581 $1,021,526. The remain 019 budget year. th Lease paymenm on the County's existing OSS Facility will go away when the new County Facility is oowpied. 'The County has adopted a funding formula for capital and capital maintenance. Appropriations will be based on an amount equal to 65: of the prior fiscal year AOM Lottery proceeds. For the 2018 - 5chool Building Capital Fund for future land purchase or debt payments. 'Includnsthe Debt Service Fund Revenue of 59.577,447 plus 1648,469 for the 2017 Softwam Replacement Capital Lease.less 51.160.434 for QSCB Subsidies and 58.995 for Debt Service Foes. °Assumes 0'Y growth. 'Restricted Article 40 & 42 Board of Education Sales Tax grown at 1.00% 6Th 1/4 Q Sales Tax IS dedicated Solely to pay for New Schools dell service and capital. Assumes 1.004E future growth. r FY 2019 Subsidy per County Budget QSC8 Sutxsidies are reduced by 6.2%as a result of sequestration, 'Per County Staff. Incudes 54,047.932 from the Article 46 Sales Tax Fund, $297.830 from the Debt Service Fund. and 13,064.450 from lottery Fund Balance. ^c^' W Q O c Q) (0 L 0) U Q ttoE a) Q 0 c 0) tQ) c U N Y 4- c 0 Q p 0 z .c • • FY 2019 Value of a Penny9: • Assumed Growth Rate: s Source: County Staff 0 0 0 c -i U Z Harnett Cow January 28, 2019 6i 0mN NM Sr MOt mZ O O m{LilVf O M - Nn mQ„i 110 IA PCN< mT nNf0 NM m oM M m O emOi) nM.aa1 n N E 2 „ 0 c Existing Red Potential ii 2019 Debt Restricted Art. Existing County Existing School Rock Debt Proposed Proposed Operating School Capital i Service Fund 40 & 42 Sales 1/4 Sales Total Revenues Surplus/ Revenue From Capital Reserve Adjusted Surplus/ FY Debt Service Debt Service Service School 05 County DS' Impact Outlay' Total Revenue' Lottery /ADM' Tax' Tax' QSCB Subsidy' Available (Deficit) Prier Tax Impact 50lized (Defied/ c O S mN m W 3�e�min $M .-.0c4.4,.,.. mm mN c .a1 R 6i, L N M Vi N N H C N mm.�omm<ovm coi ma00)0) daoto H tiN H H N m m G a m n r+�ciNai m O N m -I m N N U; • O O 0)0(0.10.0)0)0) ah m m CO Ot m nCi m ,,....1.,„,...„.._,..s .-I N v M m a R R t n U• ..1 � C Cl ti masm umi .ir nii'A.rm a5�r p ry R R o Ll, n N N70 0 10,1 N CJ h m O O S M v nroc6ddo Hmp m N N .� .moi .��[ H m m m < a a Q 0 0 m mtm o moi om i9 N N H H .Y m m 0y INA UNI, N C O O m4HMam m m m M O O i M n t0 O ee m O. �ommHinmr Uml �0'qi O Ci ,1 �Y N M R R R M r H w la-.m+wvn vimo ' Rg R 6fm i N n N N m N m m i vcriMya Imfi N l N m m a v 0 0 m m lAmomm m � N m m �N'I, Q O m m UI N ^0 M1 m a r h M . c N V N R R N m N m q^ 00I m boma<M1 , R R R grnm m M OMD N N a, O N Q N N N m M N m �+ vm m Ilf N Irl ti N m m � m 0 0 0 m m m mQ lnro a .� m N-. ;.i,,, m m m r N N Q O O m m m M m m I.'] m 00 pp o eel M H lmil .+ .-i y m m R R O IN 2029 - 6.995.163 983,325 - - - .91,021,528 9,000,016 9,058487 1,571,581 6,533,631 2,473.978 1,167,904 20,803.5811. 11,603,566 - 11,803,566 2030 : • 5,189.746 1,000.533 - - _-1,021,528 7,211807: 9,056,487 1,571,581 6,598.967 .2,498.718 1.167_904 20,893.657 i 11681,851 - - 13,681851 2031 5, 06,408 1.018,042 - 8-021.528 7,145978 r 9,056.487 1571561 6,664.957 2 523,70.5 8,167,904 20.984834r-13,838,656- - .. i 11,838,656 2032 i - 5,022.523 1,035,858 - - 1,021.528 7071909 90 6487 1571,581 6731607 2546,942 1.167.904 21.076.521: 13.996,612 - - 13,996,612 N H m m rq n O ... gvg0) MU l Nn ,rs --g.. m C to w 0 N N M .I aero Mi ImA_ N H H H H m m a m Q g S S .i �i O P .D ii e1 NU M Ci Ul vl < tC tt> (C M< R R a M O Mi ti N .al .al Uy ei N mm R ms n M Cm! UN1 N N m M v ti I(mj r r m m.m C O Ai d rc d N m IC. , M ti O m � N H m 7 Ol Ui m m a m lAlm R R 2037' - 1522,938 1.129,724 - 1.021528 3.674.189 9056.487 1,571.5817,074,988 2,678.964 - 20,382,018 16.707,829 •- 16,707829 2038 i - - 1.149.494 - - - 1,021,528 2,171,022 9.056,487 1.571,561 7.145,736 2,705,753 - 20,479,557 18,308,535 - 18,308.535 2039 _.1.._ —� ' - - 1,021.526 1.021,528 1 9,056,487 1571,581 7,217,193 _2,732,811 - 20,578.072 1 19,556,544 - - 19,556544 - • - .__—.___....___._._.. -... 2040 : - - - - - - 1021.528 1.021.528: 9,056.487 1571,581 7.289,365 2,760.3.39 • 20,677.572: 19,656,044 - - 19.656.044 2041 1 - - - - - - 1.,021.528 _ 1.021528 9,056.487 1,571,581 7,362.259 2,787,740 - 20,778,067 19,755,539 - - 19,756539 .__ 2042 : - - - - - •1,0'[3.528 1,021528 � 9,058487 1,571.581 7,435882 2,815.618 - 20879,567 19.858,039 - - 19,858,039 2043 i- - - - - • 1,021,528 1.021,528 9.056.487 1,571,581 7510,2402,843,77420,982,082 19.960.554 - 19.960,554 2044 i - - - - - - 1.021.528 1.021528: 9,056.487 1,571581 7,585.343 28 - 72,21221,085.623 20.064,095 - 20.064.095 2045 ! - - _ - _ - Total 1,021.528 1,021.528I 9,056,487 1.571.581 7,661.196 2,900,934 21190,198 #j 20,168,670 - - 20.168,670 _.. E .....__. ._.______ .___.___ ! e Total Tax Effect 0 shallbe retained In the Public following amount has been calculated. 65.00%441.571,581 $1,021,526. The remain 019 budget year. th Lease paymenm on the County's existing OSS Facility will go away when the new County Facility is oowpied. 'The County has adopted a funding formula for capital and capital maintenance. Appropriations will be based on an amount equal to 65: of the prior fiscal year AOM Lottery proceeds. For the 2018 - 5chool Building Capital Fund for future land purchase or debt payments. 'Includnsthe Debt Service Fund Revenue of 59.577,447 plus 1648,469 for the 2017 Softwam Replacement Capital Lease.less 51.160.434 for QSCB Subsidies and 58.995 for Debt Service Foes. °Assumes 0'Y growth. 'Restricted Article 40 & 42 Board of Education Sales Tax grown at 1.00% 6Th 1/4 Q Sales Tax IS dedicated Solely to pay for New Schools dell service and capital. Assumes 1.004E future growth. r FY 2019 Subsidy per County Budget QSC8 Sutxsidies are reduced by 6.2%as a result of sequestration, 'Per County Staff. Incudes 54,047.932 from the Article 46 Sales Tax Fund, $297.830 from the Debt Service Fund. and 13,064.450 from lottery Fund Balance. ^c^' W Q O c Q) (0 L 0) U Q ttoE a) Q 0 c 0) tQ) c U N Y 4- c 0 Q p 0 z .c • • FY 2019 Value of a Penny9: • Assumed Growth Rate: s Source: County Staff 0 0 0 c -i U Z Harnett Cow January 28, 2019 iaiimi EIESW.131031t Capital Funding Analysis — Case Summary 0 0 CO (NI 0 a) 0, O 0 O 0 1 Debt Issued 20,000,000 O O O O i0 10 co O 0 0 0 O O O O O O O Ln O f+ O O N o a H H H ET El 10 . N 1---O C� o m may. co. m ' Ln La ' O O N } co N co O (h �t ci ci v 4, T 35,250,000 90,500,000 140,275,000 \ C 0 0N- O O O co O O O U co 6) u 2 Government Building (FY 2020)* 3 Proposed School GO Bonds (FY 2021)* 4 Proposed School GO Bonds (FY 2024)* 5 Total Debt Issued To a\ c o O O O � aO o 0i 1-6 9 Debt Ratios (Worst Shown) 10 10 -Year Payout 11 Debt to Assessed Value 12 Debt Service to Expenditures Years out of Compliance D N o L L Y CY — U 4) a Q as o U C w C Q1 CL L Y N o O to J m N 8 - 4- Q i N O na r ( C N c Q) N a0 0 o 6) O i N 00 d' LO O O > , , .--1 N N N N N N▪ N N • v+ u. 0 0 0 0 0 0 0 0 >- >- CT N N N N N N 04 1— LL. LL W * >- 0-1 d' L.n CO 1� Cb CT) O ci N CO ct Ln CO ti c0 .-i .H r -I —1 r -i —1 r1 N N N N N CV 04 N 04 Harnett County. NC January 28, 2019 cn , I: 'Zs)IIFC MIRTH CAROLINA Existing Department of Public Utilities Supported Debt • • 03 a) • • artment of Public Utilities S a) 0 10 -yr Payout (0 Y 0 F CO s- (1) (1) N _ 0 U a Y F m N O) M r; r-- 1-- (0.. h O h h 0 e1 h m a7 a) r) N (a N (O m 1-- 01 0) 0 ei N M CO N (1) 0 N O N m co Ln O M 0 a) (0 N a) m e4 r -- co m O 0 N 0') N O N Lo CO m N M O CO 0 a) a) N e4 r- (0 ci (Y1 co (.4 N 0 N co e-4 0 O 0 CO to h h m a) ei ei r- 0 m a) m O 0) N n - d to N 0 m N a) O ei h 0 to d r) N 0 N rn N m e-1 N 0 e-1 to L() 4-- ('4 a) a) N- 0 0 N ei 0) (0) a) h M e -I 10 ci 0) CO h h O 0 00 r) 0 N 0 N (O 0) 1() to N (1) M N. N. a N 0) r- 4- (-• h h N 0 N 01 (0 11) M m 0) co a) (0 0 00 O 0) 0 h h 0 00 N 0 N CO N 0 N e1 LC) 0 0) Lo a) 0) 0 ri N N N a (0 r- 00 0 M c-1 O q q O O q q Cil LC) d CO N ,-I 0 SUOIII! W (0 <-4 40 0) 0) e-1 e -I LO. CO h 1C) 4-- 4-- 0 0 a) m c-1 0 m 0 N ae N 0 0 c-1 wOco- 01 00 0 0 m N- r- ‘ -I hei ei is oc, oc, "g oc, O 6"o c' O„ fib, T6 Oc, Oc r' Oc 626„ d O 0 h N: 1-10 e-1 a) a1 0 rn 4-- 4-- 0 M N c-1 N m O N 0 N 0 (0 ci O d 0 e -i h e -I N SC) e-4 to h Cr; 0) c-1 c-1 M Cr) 0 N ■ Principal ■ Interest 117 0 (0 a) ci O 0) rn N e-4 a) '-4 0 (0.1 O O O m 0 0 r-- <-1 -4--1 CO 0) 00 N a) ei (n 4-- 00 co O O O (V O 00 0 N 0 co Estimated as of 6 D (a 4-1 (1) i--, 0 (13 a) co (D 0 O e•i 1-1 ci 0 O 0 0 u) M O O O (4) O 00 d e-1 r- 6 O (0 ri e-1 M N N CO m O O O co N 0 (4) h 0 0 O 0) to ei -4 0) 0 0 1C) O co 0 O O to 0 0 m 0 N Par Amount O h h d O 0 e-1 0 h h N 0 O O 0) h 0 a) m O N CD CL 0) O 0 03 CO e-1 CA - LC) to ei r) 0 0 e-4 0 N O O O LC) O a) O O N to 0 O 0 0 ei e-4 a) 0 0 a N O O O 4-- (4) a) $28,949,000 General Obligation Bonds (V 0) to 1-- <-1 e-1 to 4-- (0 h 00 e-1 O O O co <-1 0) N O N 0 0 0 0 CO 00 N 0) 0- CO M 0 1.0h ei O O O O a) m 0 N O 0 0 e-1 O 0 h Lo CO 0 N.: N e-1 O O O 0 0 N 0 O O 0 O m LC) h U) 0 0 M a e-1 O 0 O ed 0 In O N ae O O O e -I e-1 CO c1 to h e1 a e-1 O e-1 O O O h 0 O N O O O r-1 CO 10 h ei 0 1() r - co O O O 0 00 4-- 0 N O O O LC) N 0 4 -- CV N (0 M h O O O e-4 0 LC) CO 0 N O O 0 e-1 cY 0) N LC) h 0) N O 11) 0 0 0- (1) e-1 LC) 0 00 0 C4 I0 N .0 00 tcoLo co f) co co csi .60 -69 L Revenue Bonds c 0 m Installment Purchases O O 0 1 c-1 co 40) U ) 4.- (0) e-1 M 40 O O O r-1 m Lo 0 1C) 0 N O O 0 c-1 CO m LC) h Ln . i CO m O) N O O O 0 to a = N O za0 o - = In M 0 a 0 = M • FD � s O c O cu= a co o -00 - 0 O Z o O O 0 O O 4-- .04- 0) O 0 r` m e-1 O O O e-1 0 N 0 N N N 74 (0 (0 4130 aN) e- 0. 8 a) and 2017 CAFR C¢, 0 U 0 z 0 Harnett Count January 28, 2019 ti Lo N 00 PO • cri m N N X x a c0 CN Ln O • N co r -I r -I co Co (.\-, 10 CV rI 1 00 N._ L 6) m N o CO CV N H r -i X X o Co N 00 • N 20 Parity Debt Service Coverage (1.20x)* Department of Public Utilities Financial Profile 1` 0 r O : N FiscaI Year 35,869,631 20,013,015 co co H Ln ti 6) CO co 00 co ci CO 03 ri CO 00 00 n00LC) - 00 CO r -I 00 27, 718,963 1 Revenues 17,239,767 17,535,463 16,773,488 Expenditures CO CO 00 71- N LC) 0) N co co 0) t 03 NN HON CO co Lc6 csi. Lci r -i 0) 0) r- 00 Ln 6) 1— r• co 6) co Ln N 00 O r CO 6) N CO 0) 1,- LO- LS') r -i C6 4 O - r -I H r 16,327,615 14,922,114 14,350,365 10,945,475 Net Revenue Available for Debt Service 00 0 00 r. co CO LN CO CO CO CC) d- CO cY t 00 00 r -I O N- 6) CO LO CO r t` co O N CO O I� r O r -I Ln (D 0 6) c0 H 0) in 00 O 0 co m co H 0) 0 0 c6 co N rI dr CO 10 0 C0 Ln o ai rn CN c\i c co CO - CO C 0) 00)) LOO C~0 O 66) r4 CO r C0 10 ( CO 00 H f CO LO CCN O 00 N- CO N- O . -1 Ln 00 cd LC) O L0 0 H ▪ H co O N O co H" Ln O 00 1 Ct c 0 (0 CO 6) O O 00 LO CD LC) H in co O r -I Ln Ln N CO CO O O C0 0) 0) CO N N r Ln r (-.1 r -i d' CO co Ln O 00 6) C9 r' c6 v O O N 11 Capital Outlay 12 Revenue Bonds Issued 2 13 Other Debt Issued N LL U N N � v (i) () = � Q 0 Cf) E O ▪ U) Ln O r HHHH 30,217,316 28,034,871 33,398,250 21,500,043 18 Ending Unrestricted Cash 21 Total Debt Service Coverage (1.00x)* 22 Cash as % of Operating Expense CCS c 0 0 0.0 0 T 0' c 0 a) 0_ 0 co Excludes 20% of Unrestricted Net Position. Source: County CAFRs 0 c3 0 LO 0 Harnett Coui January 28, 2019 VVISIMMUMMTIMIMMUMFR 0. 0 0 z Harnett County, NC January 28, 2019 nCU CU 0^ ct • r -i 0 Ci) WJ 0 • r4 V1 • r{ W • • Solid Waste S • • Solid Waste S 10 -yr Payout N L a� C as 0. U c 4.- 0) rn O d 10 (N 0 o O O O O O r"I N 10 co M 0 MN M W W C). CO CO Lo N co r-1 O O N To 10 O co co O O N 0) O 10 M O co O ri M d N co O O O m co rn co O 0) r-1 0) m c o 0 0 000'O O O O O O O O O O co M N O r'1 co M N CS) CO r r- 6) N ' N CO M O r1 N O O N N N N O N 1- 00 N CO M CO N 0 N 1 O 10 O 10 N N 1 O O O O co O co r -i N O N N In O M r -I c -i co O O c -i M r -I 10 N O N O O O O O co M N 19 CO co rn 10 03 N O 10 O ci O O O O O O O O N co O CO C9 r-1 ti 10 N 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 O ti r - M N r-1 O 10 ti O N N N r-1 00 N O N ■ Principal ■ Interest 00 0 (NI 0 CO CO 4— O (n (6 a) F-+ ('3 (o W •1 Par Outstandi Par Amount 0. t- COPs / LOBs / IPCs Special Obligation Bonds (O H and 2017 CAF c 0 U d a c O m 0 -J 0 D O 0 Harnett Coui 0 NH0 N CJ 0 aCJ Fri 0 -o d- N r-1 O D N � Fiscal Year rl O N ' LC) LO N 00 ' ti (9 CO 1'- N d N N H CO LC) CO ri ( O (9 CO 00 00 ti N- 00 N N N O d d' LC) O Lf) O ti H CO LC) LO LO c) 00 -1 0 CO d =I N r-1 d' ti 6) O 00 00 (0 CC) d 00 CO H CO CO 1` N N- N CO LO N CO 0) O Cy) CO CO d- 0) .H OJ m O O N N 1.6LC) O N N d LO L 0) b) HH Cb d' O) 10 h- N- CO N ' ci ti 0 CO N 0) N d- d f` co CO N r-1 00 H CO 1` N- N rn co ri rl d- tt LC) N N G) 0 N 1` N (O H ,t r1 co co N N m O) O C) d' N. d: o co co L0 CO CO- CO (o 00 0 00 O) 0) 0) o m N CO N CO d- (O CO 00 CO N. 0) 0 00 LC) N d d' N- ci 0) LC) c6 co co 0) CO CO N LO co T-1 d' N 0 H d- d N- CO 1` H Co Ln d' ,i ,-1 ,i N d 00 ' .--1 i I` N ' 0 LO CO O) H N- LO LO N CO N (9 LC) N N- co O 0 co co 0) N- (9 d' ti O O O CO r (6LH 4- o O CO (9 N- ti 0) ti co co (0 O CJ) O c -i ri 00 Iv c -I c -i U) L -0 Q) 0 zs 0 0 c • () .i Q) O CCS z. CC LIJ Z (1_ 0 Total Debt Service Net Revenue after Debt Service �-I N CO d LO CO t` CO O 11 Capital Outlay 12 Revenue Bonds Issued 18 Ending Unrestricted Cash 0) x x e 0 - (0 O cV x x \ c-1 O < 0 x x f- O N co CN CO d N c0 0 N H O N ; C4 CO 20 Parity Debt Service Coverage 21 Total Debt Service Coverage 22 Cash as % of Operating Expense 23 Operating Days Cash on Hand Source: County CAFRs co Harnett Count, NC January 28, 2019 Municipal Advisor Disclosure The enclosed information relates to an existing or potential municipal advisor engagement. '0 7- 0 ?` o' Nd' T• o N a) C a) a •46- :- ya)OC Om °'0 m° c oo a° om c3N on E "T33N a 3 cNN N ..c O �CaOQO E• N C Oa U O a0N .} N y O N N't°a'U 'Lt 7 iadYC aya7 00 d C 'O a) O a. '3 CI 0 a) 0 C E 0 E N ' > 00 10 o o V ° 7 tO . acC . NN O N 0 8.al "CN• aO7aO>NE yG.°C NaC aa0. c'.0N0dE aic . O . mo doNaQm 0 0 s m N C N N 03 Q NmC U Ov O N C OLVcm L° a0Y NN -5 aUEmO''' l EmyL Nc0 d w E m C c s' co • 7o. 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L •• '0 >' L.0 w d y 0 _a,aN c>o,e NE, af,3000Eav Z�'>mamwc�Eg 2UL3aL.. 0 O CIn V we m0'NCC O L .g != NI0 mw1-22CLO°51:333 N X C N y 0- LOL m m m m >w : .Y7.oE30>, 3°., y Y C 0 w Th '� ._ O )0 m U >'N 0)E m 7 9? 3 i0 I u N d d o >,Ompo��°iNn> C Q`23m;z(0.0.5000a LOW DENSITY RESIDENTIAL V �j N m g c a'N g m .£«o N0 C U C N 7 d C 2-452700PE=EN a-, 3 C 7 0)) N C N m 0 4' Nom QL 10 N C o O U a C m •N -o m L E N N 3 N O E a d. a E o C U C *a.74,-92: g,20“.> d UI 0 N yO C y1 V > C �—�''0s•io 2 01 C U Q 0) C "0 r C O m 'a tv'm m V a dN ogd Y 7o _ e O CU=a N U N i+ ry 0) 7 a 3 a c y o a o i o •- N aO O U C C 'O 0)C QO 0)'O N N 6L Wc O O O) .-;5 (0 MEDIUM DENSITY RESIDENTIAL H E U L _a C O L m 3 m (PENN v 0 to t W L W 0 ▪ 0 oto E a v � O E E N 0! 3 C U EO a V > E c L QL01 3 YL a+ Cr mc0)N 7 i QI O N a m M r a 00)0_0 t 'N a ,men. ;20E2. • J . VN m n T V C C -,935150 O 000„,N 8-5 U' m q 0,8 �LE�o " o t E C 0 x O a O J m O..0 (E0 BOARD OF EDUCATION Jason T. Lemons, Chairman Don R. Godfrey, Vice -Chairman Vivian W. Bennett Eddie Jaggers William H. Morris Charles P. Bullock, Board Attorney AI) HARNETT COUNTY SCHOOLS amoctaff mess Aaron L. Fleming, Ed.D., Superintendent W. Brooks Matthews, Deputy Superintendent Brookie B. Ferguson, Assistant Superintendent Vera D. Jones, Assistant Superintendent Monica J. Thompson, Assistant Superintendent P. O. Box 1029, Lillington, NC 27546 Phone: 910-893-8151 / Fax: 910-893-4279 Summary of Immediate Facility Needs As approved by the Harnett County Board of Education on January 25, 2019 Replacement for Erwin Elementary School On current Erwin Site - 2019 On current Erwin Site - 2020 — Reflects an approx. 5% increase $24,882,889.00 $26,127,033.00 Northwest Harnett Elementary School Not including Land Cost - 2019 Not Including Land Cost — 2020 - Reflects an approx. 5% increase $26,400,000.00 $27,720,000.00 New Middle School South of Lillington Not including Land Cost - 2019 Not including Land Cost — 2020 — Reflects an approx. 5% increase $38,917,505.00 $ 40,863,380.00 New High School South of Lillington Not including Land Cost - 2019 Not including Land Cost — 2020 — Reflects an approx. 5% increase $63,072,702.00 $66,226,337.00 Approximate total cost for immediate needs -2019 $153,273,096.00 Approximate total cost for immediate needs -2020 with approx. 5% increase $160,936,750.00 Harnett County 2019-20 Legislative Priorities February 4, 2019 1. Assist Harnett County in Expanding Broadband Access in Underserved Areas (State and Federal) Many portions of Harnett County do not currently have access to broadband. This is another significant barrier to economic growth in the county. Harnett County asks for assistance in developing infrastructure and providing broadband to underserved areas within the county. 2. Address Disparities Related to Impact Aid Money for Military -Related Students (Federal) Even though Harnett County has a significant percentage of military -related students in it school system, the County receives considerably less in federal funding per student than do surrounding counties. Harnett County seeks additional funding to support the education of these students and reduce the burden on the County's taxpayers. 3. Support Efforts to Expand Natural Gas Capacity (State) Access to natural gas is a basic requirement for many industries and businesses looking for sites to locate new facilities. Despite a massive population influx in western Harnett County, a lack of access to natural gas has prevented the commercial and industrial growth that would normally accompany these increases in population. Harnett County seeks assistance in identifying ways to expand natural gas capacity throughout the county. 4. Assist County with Developing Economic Development Products (State) Harnett County currently lacks existing buildings for industrial prospects. Over the last six months, this as resulted in the inability to respond to 20 out of 23 economic development prospects due to the lack of a sufficient product. An increasing number of site searches involving greenfields require the sites to be certified. Harnett County does not currently have any certified sites. Harnett County Economic Development requests assistance in funding the development of shell buildings and certifying sites, which will allow the County to compete for more business and industry to bring increased prosperity to the County's residents. 5. Grant County Boards of Commissioners the Ability to Construct Schools (State) The Harnett County Board of Commissioners asks for the authority to construct schools, which will assist the county in efforts to reduce existing and future issues with overcrowding. Currently, only the Board of Education has this authority. We request the restoration of state aid funding of public libraries to the pre -2011 level of $15.7 million, as well as the elimination of special provisions that distribute state aid outside of the equitable formula developed by the State Library Commission. Provide Additional Funding for School Security Measures (State and Federal) Few schools across the state were built with modern security needs in mind. The cost to modify schools to address present-day threats is substantial. We ask for additional funding, possibly based on a funding formula or that requires matching funds, to help counties address these security needs more rapidly than is possible with current funding. Possible Additions Assist Harnett County in Funding its Veterans Treatment Court Program (State and Federal) Harnett County's first -in -the -state Veterans Treatment Court (VTC) celebrated its fifth anniversary in November. In its first five years of existence, the Harnett VTC has helped many veterans in Harnett County and the greater region move past the scars of war to build fulfilling and productive lives back home. The court is only one of four currently operating in North Carolina, and accepts any qualifying veteran from across the state who has the ability to travel to the court's weekly sessions. The court substantially expanded its reach in 2016 when it was awarded a three-year grant from the federal government (SAMSA and BJA). The grant allowed for the hire of three full-time and three part-time staff, and paid for much needed treatment services including one-on-one counseling which the veterans would not be able to receive from the VA. The federal grant that has greatly enhanced Harnett County's Veterans Treatment Court will run out in October 2019, and without additional federal or state support, the entire expense of maintaining this program will fall to the County. We ask for additional support for this program that provides invaluable services to veterans in Harnett County and across the State of North Carolina. Support the County's efforts to Enhance the Harnett Regional Jetport (State) Harnett Regional Jetport is an economic engine for Harnett County. Over the past decade, the County has extended the runway, improved and expanded the apron to allow for the airport's expansion. Harnett County is preparing to make substantial investments into Harnett Regional Jetport in the form of an additional apron expansion and a new $3 million terminal. We ask for any assistance that may be available to offset these costs or to make additional enhancements in the future. Assist Counties with efforts to Install Additional Gauges on Rivers for Public Safety Purposes (State) During Hurricane Florence, Harnett County experienced significant issues with river flooding, which prompted evacuation orders along two rivers (the Cape Fear and Lower Little). Additional evacuations may have been warranted, but the County had no way of knowing how high those rivers were going to crest due to a lack of gauging equipment. River gauges are only installed on the Lower Little River and on the Cape Fear River at the Lillington bridge. In the past, the gauges were cost prohibitive, however N.C. Continue Support of Construction of Four Lane Highway into Wake County (State) The lack of a four -lane highway connecting Harriett County to Wake County is seen as a significant barrier to economic development in Harnett County. A four -lane highway into Woke County would have a significant positive economic impact on Harnett County in terms of commercial and residential development. Reduce Waiting Period to Auction Livestock (State) Harnett County Animal Services requests changes to current requirements for livestock auction and adoption to reduce the burden on the County to hold and care for livestock Animal Services takes in. Under current requirements, it con sometimes take 20 days to auction livestock, which imposes significant burdens in terms of cost and space on the County. If the animals receive no bids, Animal Services attempts to adopt them at minimal cost to residents. Animal Services requests reducing the 10 - day waiting period to auction livestock to three days, which would reduce the stress on animals, as well as the costs required to maintain the animals. Preserve Maternal and Child Health Block Grant Funding The Harnett County Health Department requests preservation of the Federal Maternal and Child Health Block Grant. Since 2012, this grant has been reduced by more than $7 million. in the current fiscal year, this reduction has resulted in a loss of $26,000 to Harnett County's Maternal and Child Health programs. Increase Support of County Veterans Services Programs (State) North Carolina currently provides some funding for the maintenance and operation of county Veterans Services programs. This funding is currently capped at $2,000 per fiscal year per program. Harnett County Veterans Services provides a valuable resource to the county's veteran population. The department requests additional state support of its Veterans Services program. Allow Firefighters at Non -Profit Departments Access to Local Government Retirement System (State) Harnett County and numerous other career non-profit fire departments are not permitted access to the N.C. Local Governmental Employees' Retirement System. This creates a situation where these departments become a training ground for career firefighters who, following training, move on to municipal and county agencies to be eligible for the retirement system. Since 1998, the N.C. State Firefighters Association has petitioned the IRS to allow career firefighters employed by non-profit fire departments access to the retirement system. Harnett County Emergency Services asks for this change. Consider Allocating Funding for District Attorney Positions Based on Case Load (State) We ask for consideration of funding allocation for District Attorney positions in prosecutorial districts based on the case load in each district Harnett County 2018-19 Legislative Priorities February 5, 2018 1. Assist Harnett County in Expanding Broadband Access in Underserved Areas Many portions of Harnett County do not currently have access to broadband. This is another significant barrier to economic growth in the county. Harnett County asks for assistance in developing infrastructure and providing broadband to underserved areas within the county. 2. Address Disparities Related to Funding Formula for Military -Related Students Even though Harnett County has a substantial percentage of military -related students in its school system, the County receives considerably less in federal funding per student than do surrounding counties. Harnett County seeks increased funding to support the education of these students and reduce the burden on the County's taxpayers. 3. Support Efforts to Expand Natural Gas Capacity Access to natural gas is a basic requirement for many industries and businesses looking for sites to locate new facilities. Despite a significant population growth in western Harnett County, a lack of access to natural gas has prevented the commercial and industrial growth that would normally accompany these increases in population. Harnett County seeks assistance in identifying ways to expand natural gas capacity throughout the county. 4. Assist County with Developing Economic Development Products Harnett County currently lacks attractive buildings and sites for industrial prospects. Over the last six months, this has resulted in the inability to respond to 20 out of 23 economic development prospects due to the lack of a sufficient product. An increasing number of site searches involving greenfields require the sites to be certified. Harnett County does not currently have any certified sites. Harnett County Economic Development requests assistance in funding the development of shell buildings and certifying sites, which will allow the County to compete for more business and industry to bring increased opportunity and prosperity to the county's residents. 5. Grant County Boards of Commissioners the Ability to Construct Schools The Harnett County Board of Commissioners asks for the authority to construct schools, which will assist the county in efforts to reduce existing and future issues with overcrowding. Currently, only the Board of Education has this authority. AIIow Counties to Enact Impact Fees to Support Public Education Similar to the recreation fees which are received for new development in the county, Harnett County requests the ability to enact additional fees on new development that assist in funding public education in the county. The County is interested in finding a solution that addresses this issue without putting an added burden on the county's developers such as charging the fee only when a property is sold. Preserve Maternal and Child Health Block Grant Funding The Harnett County Health Department requests preservation of the Federal Maternal and Child Health Block Grant. Since 2012, this grant has been reduced by more than $7 million. In the current fiscal year, this reduction has resulted in a loss of $26,000 to Harnett County's Maternal and Child Health programs. Increase Support of County Veterans Services Programs North Carolina currently provides some funding for the maintenance and operation of county Veterans Services programs. This funding is currently capped at $2,000 per fiscal year per program. Harnett County Veterans Services provides a valuable resource to the county's veteran population. The department requests additional state support of its Veterans Services program. AIIow Firefighters at Non -Profit Departments Access to Local Government Retirement System Firefighters in Harnett County and numerous other career non-profit fire departments are not permitted access to the N.C. Local Governmental Employees' Retirement System. This creates a situation where these departments become training grounds for career firefighters who, following training, move on to municipal and county agencies to be eligible for the retirement system. Since 1998, the N.C. State Firefighters Association has petitioned the IRS to allow career firefighters employed by non-profit fire departments access to the retirement system. Harnett County Emergency Services asks for this change.