HomeMy WebLinkAboutC.054.93010_0943Commissioner Bowles asked the representatives if they felt the county could lose
money with a synthetic refunding.
Both Hobson and Boyles said no. Mr. Boyles said many corporations and
governmental entities had been through synthetic refundings in the past eight to nine
months. He said a worse -case scenario might happen if a "flat -tax," or an unusual tax
law were passed. Boyles continued by saying the bank's economists were predicting the
economy "would turn around next year."
Blumenstein said a financial advisor would be required if the county pursued the
transaction. She said this person's duties would be to give an independent financial
opinion -- to advise on an opportune time to proceed and the interest rate offered by the
bank.
P.M. AGENDA BRIEF]
Staff Present: County Manager Joel Mashburn, Finance Director Susan
Blumenstein, Cooperative Extension Service Director Ken Vaughn, Register of Deeds
Brenda Bell, Chief Deputy Rick Dowdle with the Sheriff's Department, Social Services
Director Don Wall, Comity Assessor Brent Weisner, Human Resources Director Carolyn
Harris, Inspections/Planning Director Lynn Niblock, Planning Supervisor Ron Smith, and
Clerk to the Board Jean Moore.
REQUEST FOR A DISCUSSION/DECISION REGARDING COUNTY
PARTICIPATION IN STATE -GRANTED BONUS LEAVE (THIS APPLIES TO
ONLY COOPERATIVE EXTENSION SERVICE EMPLOYEES): Vaughn said that
in the 1980s, the county and State signed a Memorandum of Understanding stipulating
they would split the salary costs for the Cooperative Extension employees. He said the
agreement stated the State would take the lead on the establishment of the salaries, and
the extension office would observe the county holidays and office hours. Vaughn said
that in year 2000, the State approved a lump salary increase of $600 per employee, with
the costs to be equally shared between the State ($300) and county ($300). He said this
year; however, the State approved 80 hours of leave time in lieu of a salary increase. Mr.
Vaughn said he was requesting for the county to approve the leave time and to absorb the
40 hours (one-half of the State's approved 80 hours) for each employee. In addition,
Vaughn said the State was asking if the county would accept leave hours from employees
transferring from other State agencies. He said the bonus hours were a one-time method
of recognition for the employees, and the hours could be "banked" for future use.
County Manager Mashburn said he was in favor of sharing the costs for the bonus
hours; however, he could not recommend approval for the transfer of "banked" time for
new hires. He said this was due to the possibility of the county paying twice for the
hours. (Example would be: An employee was paid bonus hours and later retired. Then, a
new hire transferred into that person's position and brought "banked" hours from another
governmental unit. The county would be paying bonus hours twice. The same scenario
might occur with deaths or resignations.)
Vaughn said the employees would be encouraged to take the leave time rather
than "banking" it.
Human Resources Director Carolyn Harris said the county's present policy
allowed up to 40 hours of accumulated vacation leave, in excess of 240, to be converted
into sick leave on the last day of the year. She said anything more than this would he lost
so that only 240 hours were carried on January 1. Mrs. Harris said the county also had a
policy stipulating that only 240 hours would be paid to employees either retiring or
resigning. She said; however, the State's bonus time would not be subject to the 240
maximum limitation as of December 31.
Vaughn again said he would encourage his employees to take the leave time
rather than "banking" it. He said this would eliminate having dual time sheets.