GILES COUNTY, TENNESSEE BUDGET COMMITTEE MINUTES DECEMBER 11, 2023

In Attendance:

Chairman: Erin Curry

Vice President: Gayle Jones

Committee Members: Judy Pruett, Terry Jones, David Adams, Matthew Hopkins and

Evan Baddour

Commissioners:           James Lathrop, Joyce Woodard, Matthew Rubelsky, David Wamble, Joe

Sutton, Rose Brown and Arnell Guthrie

Minutes from last meeting dated November 6^th, 2023 approved by Gayle Jones and second by Matthew Hopkins with all in favor.

AGENDA ITEMS:

• Audit results will be released on December 13^th, 2023. There were three (3) findings all of which have been reviewed and corrected. Copies can be obtained in Financial Management offce.
• Web site work nears completion and expected to be live near the end of January, 2024.

e Bridgeforth construction work should be beginning soon with decisions to be made about funding this project. The County part is One million eight hundred thousand dollars ($1.8 million) the first year and the following year 2025 in the amount of One million three hundred thousand dollars ($1.3 million). This work should finish in 2025 when the work will duplicate at (GCHS) Giles County High School. Giles County High School tour for Commissioners is scheduled for December 13, 2023 at 12:30.

• Main agenda item: Timekeeper software Beth Sumners addressed the committee with a question of importance; are we making a purchase recommendation or putting this question to rest? After extensive discussion with committee, and Matt Hopkins recommended keeping the current bidder on this software. All questions were answered and approved regarding the Kronos system. The annual contract cost Forty-three thousand thirty-three dollars ($43,033.00). Initial start-up cost including time clocks and set up to begin are One hundred nine thousand eight hundred thirty-five dollars ($109,835.00). This is not a live program and does require import and export files.

The final question remains as to how the county funds this. County pays all or divides the cost between county, school and highway departments: County — 63%

School –

Highway Department – $3,249.00.

David Wamble makes motion to approve county funding for total from fund balance — not asking schools or highway departments to pay because they did not plan for this expense in their budgets. Second by Evan Baddour. Matt Hopkins asks for roll call vote:

Wamble – AYE (Sitting in for Terry Jones)

Pruett -AYE

Jones – NAY

-AYE

-AYE

Adams -NAY

Hopkins – AYE

Next Item: See Attached Resolution No. 2023, to be adjusted in October of each year. New fund for Capital Improvements According to Tony Risner our November over budget numbers are about $62,000.00.

Motion to approve Resolution in committee by David Wamble and Second by Matthew

Hopkins

Roll Call:

Wamble – AYE Hopkins – AYE

Pruett — AYE

Jones -AYE

Adams -AYE Baddour-NAY curry -AYE

The Meeting ofthe Giles County Budget Committee adjourned at 3 :20 p.m.on December 11 , 2023.

RESOLUTION NO. 2023-

A RESOLUTION OF THE GILES COUNTY COMMISSION TO LEVERAGE FUND BALANCE RESIDUALS TO CAPITAL PROJECT RESERVES

WHEREAS, a Fund Balance Policy was established by Resolution 2023-51, thus ensuring long-term fiscal stability, accountability and preparedness for future needs; and

WHEREAS, Giles County is preparing to address multiple capital projects that need to be sustained by a more robust, specifically designated capital project fund; and

as the Commission annually reviews its compliance with Fund Balance Policy, a portion of that ftnd balance should be allocated to exigent capital obligations; and

WHEREAS, the previously approved Target Fund Balance range is 40-50% of the previous fiscal year’s General Fund budget; and

WHEREAS, responsible employment ofour Fund Balance is a sustainable and prudent practice, providing financial flexibility for capital projects while sustaining emergency funds, without necessitating tax raises for county operations.

NOW, THEREORE, BE IT RESOLVED BY THE GILES COUNTY COMMISSION:

SECTION 1: That Fund Balance Residual Funds are defined as those funds in excess of 45% of the previous fiscal year’s General Fund budget. The Fund Balance Residual Funds are determined at the end of a fiscal year’s audit, approximately 01 October.

SECTION 2: After compliance with Fund Balance Policy is assured, the Budget Committee will disfribute residual funds in excess of 45% to Fund 171, General Capital Projects.

SECTION 3: That all orders and resolutions in conflict herewith be and the same are hereby repealed and this Resolution shall take effect immediately upon its passage.

This resolution adopted this 16th day of January 2024.

1. S. Stowe, County Executive

ATTEST:

County Clerk