[00:00:04]
WAS COMING HIS CALL THE FINANCE COMMITTEE WELL NOVEMBER NOVEMBER NOVEMBER 15TH TO ORDER AND IF YOU ALL CAN STAND FOR THE PLEDGE OF ALLEGIANCE, PLEASE I PLEDGE ALLEGIANCE TO THE FLAG VDI STATES OF AMERICA AND TO THE REPUBLIC FOR WHICH IT STANDS ONE NATION UNDER GOD
INDIVISIBLE WITH LIBERTY AND JUSTICE FOR ALL. >> AND PUBLIC BEAUTIFICATION OF THIS MEETING HAS BEEN PUBLISHED, POSTED AND DISTRIBUTED IN COMPLIANCE WITH
THE SOUTH CAROLINA FREEDOM RACIAL ACT. >> AND I WOULD LOOK TO SAY FOR
[4. APPROVAL OF AGENDA]
SOMEONE TO MAKE THE MOTION TO APPROVE TODAY'S AGENDA. I'LL MAKE A MOTION TO APPROVE THE AGENDA. THANK YOU, MISS HOWARD. IS THERE A SECOND I'LL SECOND.>> THANK YOU. I SAW MR. DAWSON WHO CAME IN AND WE ARE DOING A LOT WITH A MEETING THAT IS IN PERSON AS WELL AS VIRTUAL. SO I'VE GOT A MISS HOWARD MYSELF HERE. WHAT ELSE IS ONLINE AND WE DO HAVE A QUORUM FOR TODAY.
SO THE AGENDA HAS BEEN MOTION AND SECONDED. IS THERE ANY DISCUSSION?
>> IF NOT, WE'LL PASS THE MOTION WITHOUT OBJECT OR THE AGENDA WITHOUT OBJECTION IS ANY
[5. APPROVAL OF MINUTES - AUGUST 16, 2021]
OBJECTION TO THE CURRENT AGENDA. >> SEEING NO OBJECTION, WE MOVE ON TO APPROVAL OF THE MINUTES FROM AUGUST 16TH AND THEN WE HAVE A COUPLE OTHER MINUTES
THAT'S GOING TO COME AFTER THIS. >> THIS IS BACK IN AUGUST 16TH.
I HAVE YOU. THANK YOU, MR. DAWSON. IS THERE A SECOND? I WILL. ALL RIGHT. IS THERE ANY OBJECTION TO
APPROVING THE MINUTES OF AUGUST 16TH? >> SEE, NO OBJECTION.
LET'S MOVE ON THEN. MR. HAYES WILLIAMS, IF YOU COULD PLEASE GIVE US OUR UPDATE FOR THE WE ARE RIGHT NOW WITH OUR FINANCES. OH, I'M SORRY.
SO HANG ON FOR A SECOND. WE DO I DO DID MISS LEWIS'S COMMENT DOES ANYONE THAT'S HERE WITH THE PUBLIC THAT WOULD LIKE TO SPEAK THREE MINUTES? NO, SIR.
[7. UPDATE FROM INTERIM CFO HAYES WILLIAMS ]
THERE IS NO ONE IN HOUSE, NO ONE ON LINE. SO MR. HAYES ON THE FLOOR IS YOURS. SHOW MYSELF. THANK YOU, CHAIRMAN.AS YOU KNOW, WE BELIEVE IT TO BE WE'VE BEEN STAFFING UP AND IN THE FINANCE DEPARTMENT AND I WANTED TO AND I WANT TO INTRODUCE SOME OF OUR NEW HIRES .
>> WE HAVE BRIAN CRONIN. THERE'S NEW HE IS OUR SENIOR ACCOUNTANT.
HE CAME TO US FROM THE HILL, HEAD OF PUBLIC SERVICE DISTRICT AS A SENIOR ACCOUNTANT.
IT WAS THE DISTRICT FOR 16 YEARS PRIOR TO THAT HE WORKED AS A BUDGET ANALYST FOR BUSINESS VALUATION COMPANY IN NEW JERSEY. WE'RE HAPPY TO HAVE HIM HERE.
>> YOU ALSO HAVE MISS ROSITA BENNETT. SHE IS IN FINANCE A.P. CLARK.
SHE HAS OVER 20 YEARS OF BANKING FINANCE EXPERIENCE WORKING AT FORT SILL NATIONAL BANK. OH, BANKING SHE IS WORKING. SHE'S ALSO RESPONSIBLE FOR EDUCATING OTHER EMPLOYEES AND CUSTOMERS ABOUT BANKING AND FINANCE.
ARE THERE HIGHER IS THIS A JAMES? HE IS ALSO AN AP CLERK.
>> VINSON IS CURRENTLY WORKING TO GET HIS B.A. IN ACCOUNTING. HE SHOULD HAVE HE SHOULD HAVE ENOUGH CREDITS TO TAKE THE CPA EXAM AND GRADUATE IN ACCOUNTING DEGREE THE FOLLOWING YEAR.
SO GOD BLESS HIM. THAT WAS THE EXAM THAT I TOOK AND HAVE THE SCARS TO PROVE IT.
ANYWAY, CURRENTLY WE'RE PULLING ITEMS 20 21 AUDIT. THE AUDITORS SHOULD BE ON SITE HERE TOMORROW. WE'RE OPTIMISTICALLY HOPING TO FINISH BY DECEMBER 30 FIRST BUT WE HOPEFULLY WILL NOT BE LATER THAN THAT. BUT THERE IS A POSSIBILITY THAT WE MAY. SO WE'RE WORK WE'VE BEEN WORKING VERY DILIGENTLY AND GETTING EVERYTHING COLD AND READY FOR ANOTHER THING ON OUR IN FRONT OF US AGAIN.
EIGHTY SEVEN THIS IS ACCOUNTING FOR LEASES, A NEW STANDARD THAT IS COMING INTO EFFECT IN 20 22.
IT'S A FAIRLY LARGE UNDERTAKING. WON'T HAVE TO BE LOOKING AT ALL THE LEASES THAT WE HAVE BUT IT'S OPERATING IN CAPITAL AND MAKING DISCLOSURES.
THE GOOD THING IS IS NETBOOK SOFTWARE THAT WE HAVE HELPS US WITH THAT DETERMINATION ASIAN AND WILL BE A MATTER OF GETTING IT TOGETHER FOR THEM. WE'RE HAVING A MEETING WITH THEM SEVERAL PEOPLE IN FINANCE AND PROCUREMENT NEYMAR TO GET THAT UNDERWAY.
ONE OTHER THING. WE'VE RECEIVED A LOT OF SOME PHONE CALLS ABOUT THE ONCE PERCENT SALES TAX THAT'S GOING TO BE OVER AT THE END OF DECEMBER.
AND I'VE TALKED TO THE SOUTH CAROLINA DEPARTMENT OF REVENUE THERE AND THE PROCESS OF SETTING SENDING IT OUT TO ALL OF THE TAX PAYERS WITHIN THE COUNTY.
[00:05:03]
AND WE'RE GOING TO WORK AND TRY AND PUT SOME COMMUNICATIONS OUT THERE TO HELP INFORM HIM OTHER TAXPAYERS. BUT IT WILL GET THROUGH THE 30 FIRST AS A PART OF STATESTATUTE. SO GOOD. >> ANY QUESTIONS? MR. WILLIAMS, YOU ONLINE? I THINK THAT YOU ARE FREE TO GO.
THANK YOU, MR. ACTUALLY. I THINK WE GOT TO BACK UP HERE AGAIN.
WE FINANCIAL STATEMENTS I'M SURE WE GET YOU COMING BACK UP HERE FOR THE DISCUSSION AND
[8. DISCUSSION AND PRESENTATION OF YEAR-TO-DATE FINANCIAL STATEMENTS FOR FY 2022]
PRESENTATION OF YOUR FINANCIAL STATEMENTS. >> YOUR YOUR FINANCIAL STATEMENTS WERE SENT OUT IN YOUR PACKAGE AND YOUR GENDER PACKAGE AND I'LL BE REFERRING TO THE ITEM NUMBER IN THE PAGE NUMBER THAT IS LOCATED ON FOR THE FINANCIAL STATEMENTS FOR
REVENUES IS LOCATED INSIDE OF ME. >> PAGE 7 NOTHING REALLY UNEXPECTED THERE. WELL, ONE THING THAT WAS KIND OF UNEXPECTED BUT I WOULD WARM TAXES KIND OF WHERE THEY'RE SUPPOSED TO BE. OBVIOUSLY AS B4 OKATIE TAXPAYER PROBABLY JUST GOT SHARES IN THE MAIL. WE'RE EXPECTING TO SEE THOSE COLLECTIONS GO UP IN NOVEMBER, DECEMBER AND JANUARY OBVIOUSLY AS THEY BECOME DUE YOU'LL SEE OUR INTERGOVERNMENTAL REVENUES ARE STILL DOWN CONTENT TO THE SOUTH CAROLINA DEPARTMENT REVENUE AND THEY'RE REALLOCATING STATE AID TO SUBDIVISIONS.
BASED ON THE CENSUS AND THEY ACTUALLY HAVE NOT MAILED OUT OUR FIRST QUARTER YET.
SO IT'S NOT A MAIL OUT AS AN EMT AND WE HAVEN'T GOTTEN THAT ONE YET.
AND THEN THE THIRD THING ON THERE THAT THIS WILL LOOK KIND OF WONKY IS THE MISCELLANEOUS REVENUE OF SEVEN HUNDRED AND SEVENTY THOUSAND DOLLARS. THIS RESULTED FROM A SALE OF THE DSM PROPERTY AT ONE TIME SALES OF APPROXIMATELY SEVEN HUNDRED THIRTY THOUSAND THIRTY SEVEN THOUSAND. SO THAT TAKES ME TO THE NEXT PAGE WHICH IS OVERALL EXPENDITURES AND EVERYTHING'S PRETTY WELL TRACKING WHERE IT SHOULD BE NOT BAD.
THE PUBLIC WORKS THERE A LITTLE BIT ABOVE THEIR 33 PERCENT. THAT'S BECAUSE THE PAYMENTS CAN BE MORAL AND BE FORGIVEN FOR COM HEALTH FOR INDIGENT CARE WHICH IS QUARTERLY AND TYPICALLY WE PAY RIGHT WHEN THE QUARTER STARTS. SO THEY GET THEIR MONEY UPFRONT SO THEY CAN DO WITH IT AS THEY NEED TO. PUBLIC WELFARE IS BELOW 33 PERCENT AND THAT'S BECAUSE WE HAVE THAT TOGETHER FOR WHICH IS A GRANT THAT WE DO ABOUT THREE HUNDRED NINETY EIGHT THOUSAND DOLLARS AND THAT THAT HASN'T GONE OUT YET.
THOSE CHECKS WERE ACTUALLY MAILED OUT LAST FRIDAY. SO ALL THE GRANT RECIPIENTS TOGETHER FOR BEAUFORT SHOULD BE GETTING THAT WITHIN THE NEXT WEEK OR TWO DEPENDING ON POSTAGE. BUT POST OFFICE. AND THAT KIND OF WRAPS IT UP FOR THE GENERAL FUND. I DIDN'T HAVE ANY QUESTIONS ON THE GENERAL FUND BEFORE I PROCEEDED OVER THE ENTERPRISE FUNDS. THE DETAILS OF THE REVENUES AND
EXPENDITURES GO FROM PAGES 9 THROUGH 12 OF THE AGENDA. >> ANY QUESTIONS FOR MR. WILLIAMS? AND I'LL GET TO THE ENTERPRISE FUNDS AND AS YOU KNOW, WE HAVE FOUR ENTERPRISE FUNDS. I'LL START WITH HILLMAN ON AIRPORT.
THEY'RE ACTUALLY DOING REALLY WELL THIS SO FAR THIS YEAR THEY'RE ABOUT NINETY SIX THOUSAND AS AN OPERATING BUDGET . THEY'RE ABOUT 50 WHICH IS ABOUT 54 PERCENT OF WHERE THEY SHOULDN'T BE AS OPPOSED TO 33. THEY'RE ACTUALLY DOING REAL WELL THERE. THEY HAVE SOME CAPITAL GRANTS IN THERE THAT MAKE THAT KIND OF IN-FLIGHT THE EXPENDITURES A LITTLE BIT. BUT THERE WILL BE A 90 PERCENT COVERED BY THE FAA, 5 PERCENT BY ICAC AND THEN WE'LL HAVE TO PUT IN 5 PERCENT IT TAKES TO THE B4 EXECUTIVE AIRPORT. THEY'RE NOT DOING AS WELL FINANCIALLY.
THEY'RE WALKING ABOUT ONE HUNDRED AND TEN THOUSAND OUR LAWS FOR THE FOR THE YEAR.
THEY HAVE SOME ITEMS THAT HAVE BEEN BUT THAT WILL RECTIFY HOPEFULLY BY THE END OF THE YEAR. AND THAT'S WHAT WE'RE LOOKING TO.
THEY ALSO HAVE AN INFLATED NUMBER FOUR FOR CAPITAL PROJECTS BUT THOSE ARE ALSO
COVERED 90 PERCENT BY THE FAA AND THE FCC. >> IF I COULD.
BRIAN, GO AHEAD. WHAT ITEMS ARE BUT THEY HAVE NOT BEEN BROUGHT IN YET.
>> WELL, AGAIN, THE YES. TYPICALLY THE HALF FUEL THAT IS PURCHASED AND THEN WE'LL BE SELLING THAT AND THE REVENUES WILL COME IN AFTER AFTER WE PURCHASED THE GAS.
WE'RE BASICALLY ON THE CASH BASIS THROUGHOUT THE YEAR AS FAR AS WHEN WE PAY THEM.
AND WHEN IT GOES OUT TO AS THE SALES COME, IT WILL YOU WILL SEE THE COST OF SALES FOR THE.
[00:10:01]
WHICH IS BASICALLY HALF GAS OR ALMOST AS MUCH AS SALES ARE. AND WE WE WE EXPECT THIS TO CHANGE BETWEEN THE NEXT COUPLE OF MONTHS. IT SHOULD.I APPRECIATE THAT. THANK YOU. >> THE BEFORE THE EXECUTIVE AIRPORT. GENERALLY SPEAKING, THEIR REVENUE IS COMING FROM THE SALE VIEW AND RENTAL, RIGHT? YES, SIR. AND THEN YOUR RENTAL YEAR AND THEY'RE PROJECTED TO LOSE MONEY IS WHAT YOU SEE NOW THAT THEY LOSE MONEY ON ALL OF THE THEIR THEIR BUDGETS ARE NOT PROJECTED TO LOSE MONEY IN THEIR BUDGET BUDGETED TO BREAK EVEN.
THEY'RE THEIR TIMING DIFFERENCES AND WHEN YOU PAY EXPENSES VERSUS YOU KNOW WHEN YOU GET THE INCOME AND WE'RE HOPING TO SEE THAT THAT REVERSES OUT THAT'S WHAT I THINK THAT THAT'S WHAT THAT'S WHERE WE GO. THANK YOU.
THANK YOU. APPRECIATE IT. >> WE HAVE WE HAVE A NEW ENTERPRISE FUND THIS YEAR. IT'S A SOLID WASTE AND RECYCLING.
YOU'LL YOU'LL LOOK OUR REVENUES ARE DOWN RIGHT NOW BUT THOSE ARE PART OF YOUR PROPERTY TAX BILLS. THAT'S AN ACTUAL MILL THAT WE DID.
SO WE EXPECT THAT THE INCREASE OVER NOVEMBER, DECEMBER, JANUARY TIMEFRAME ONE THING THAT KIND OF POPS OUT THERE AS YOU LOOK AT THE PURCHASE SERVICES IS ■AT96PERCENT.&-PBUTS
* This transcript was compiled from uncorrected Closed Captioning.