Travis County Commissioners Court
February 28, 2012 (Agenda)
Item 21
21 is consider and take appropriate action on recommendations on the use of existing certificates of obligation balsz.
>> leroy nellis, planning and budget off.
jessica is going to go through her scrubs memo.
these are essentially existing bond bonds that we have consulted with both the county attorney, bond counsel, and the auditor's office to attempt to utilize those funds for some of the projects that are on your 2012 c.o.
list and some other projects that she will go through.
so jessica.
>> good morning, jessica rio, plan and budget.
generally this process in the past has been done in September so I'm glad it kind of feels like September today.
generally, as leroy was saying, this is the scrubbing and I want to clarify this is certificates of obligation, not voter approved bonds.
and I did work very closely with the county auditor's office and I worked very closely with david escamilla, the county attorney.
I did not go through bond counsel.
on page 1 of the memo it says we're recommending the use of allocated reserves of eighth c.o.
funds and I failed to list eight, I listed seven.
509 is listed.
generally what we do is is in the budget process provide you the ability to use some of these allocated reserves for projects that are approved, and you'll recall the only thing that's different -- there's a couple of things.
one is that we waited until we knew the actual balancess so there wouldn't be any estimation going on and any need to revise.
the other thing that's a little different this year is that we had a project that came to you a couple weeks ago in i.t.s.
regarding the renovation here at granger, and you'll recall you approved moving forward with with that, approximately a $650,000 project.
and I believe I told you I had a solution for most of that and that is contained in these recommendations.
although the c.o.
will be going down for a portion of this, it also is related to a new project approved midyear this year.
so having said that, I just want to briefly talk about the projects that we're looking at.
if you look at the page, I guess it's page 3 where the tables are, you'll see the projects are listed.
basically what I recommend is that we use -- obviously have you to look at the official statements and what's allowed for use and they have to be capital projects, but we use t.n.r., hmac and alternative paving, we used the granger renovation that's i.t.s.
and we also used for some improvements at the jail.
so those projects are listed on the back.
you'll notice that basically because we don't have estimates and I'm using actuals, I can wipe out a lot of these allocated reserves.
and that's recommended because it will make it easier to close those funds out and it's the most efficient use then of your county resources.
the only one that we do not leave a zero balance is fund 521 and that's because that one is a f.y.
11 c.o.
sometimes since it's recent it's in progress and I wanted to look a cushion.
I will ask the court to allow p.b.o.
and the auditor to process automatic budgets related too these recommendation if you approve this item.
of that 1.4 million, I just wanted to note also that 58,785 is related to that i.t.s.
project and 882,971 will actually you'll see next week when I post the item for f.y.
12 c.o.s that the f.y.
12 c.o.s will be adjusted by that amount.
one final note, the i.t.s.
item, there was approximately -- oh, I don't have the number, but it's approximately 60,000 you will see coming in coming weeks from c.a.r.
reserve that were not -- because that portion of the i.t.s.
project was not eligible for c.o.
having said all that, I --
>> move approval.
>> I would be happy to answer any questions.
>> any questions?
or comments?
so the i.t.
item is fund 463 and 521?
>> yes.
the 458, 463 and then 521 and then you'll see a partial amount from c.a.r.
reserves in the coming weeks.
>> the hmac items we do intend to spend that money.
that's still good.
>> oh, yes.
we would ask that all of these projects be spent in the year budgeted and yes.
>> okay.
thank you.
>> and donna has worked with me in the past on these sorts of items.
>> thank you.
>> so if we approve the list, then you are also asking to you authorize automatic transfers so we would not see these on the agenda again?
>> I don't see any reason to bring them back to court unless you desire, but if you allow us to do automatics, we'll process those in the next few days.
>> Commissioner Gomez moved we approve the recommended actions, the use of the c.o.
balances as set forth by miss rio.
second that motion.
>> second.
>> discussion on the motion?
all in favor?
that passes by unanimous vote.
thank you very much.
>> thank you all.
The Closed Caption log for this Commissioners Court agenda item is provided by Travis County Internet Services. Since this file is derived from the Closed Captions created during live cablecasts, there are occasional spelling and grammatical errors. This Closed Caption log is not an official record the Commissioners Court Meeting and cannot be relied on for official purposes. For official records please contact the County Clerk at (512) 854-4722.
Subscribe for updates