[00:00:01]
CLOSED CAPTIONING PROVIDED BY BUFORT COUNTY.
[1. Call to Order]
I'D LIKE TO CALL TODAY'S FINANCE AND ADMINISTRATIVE COMMITTEE MEETING TO ORDER.WE HAVE AN AGENDA BEFORE US MOVE TO ADOPT
[2. Adoption of the Agenda]
THE AGENDA AS SUBMITTED.ALL IN FAVOR? UH, WE HAVE OUR MINUTES FROM OUR JULY 9TH, 2024 MEETING.
[3. Approval of the Minutes]
NO FURTHER EXCEPT THE MINUTES AS PRESENTED.[4. New Business]
OUR NEW BUSINESS, WHICH WILL BE A MONTHLY FINANCIAL REPORT FROM OUR VERY OWN FINANCE DIRECTOR.HOW'S EVERYBODY DOING THIS MORNING? GREAT.
SO I HAVE A BAD JOKE BEFORE I START OUT WITH DISCUSSION.
SO HOW DOES A FINANCE PERSON GETS EXCITED AND HAPPY? ALEX? THE ANSWER IS YOU INCREASED YOUR CREDIT RATING
SO FOR THOSE OF YOU, I KNOW YOU'RE SUPPOSED TO LAUGH BAD JOKES TOO.
SO FOR THOSE OF YOU THAT ARE NOT AWARE, WE GOT A PRESS RELEASE YESTERDAY FROM VISH, WHICH IS ONE OF OUR TOP TRADING AGENCIES AND OUR GENERAL OBLIGATION BOND AND OUR, WE CALL IT THE IDR, BUT IT'S ISSUE DEFAULT RATING WHEN UP.
WE HAVE TRIPLE A NOW, WHICH IS A HUGE, HUGE ACCOMPLISHMENT.
HOW CAN YOU DO BETTER THAN THAT? I DON'T KNOW.
IT'S JUST THE CHALLENGE IS ON AND THE PRESSURE IS ON AS WELL.
SO ONE THING THAT I WANTED TO MENTION IS WHY, WHY DO WE HAVE TRIPLE A? AND A LOT OF IT HAS TO DO WITH SOME OF YOU THAT ARE SITTING HERE.
SO WHEN AN AGENCY STARTS LOOKING AT BONDS, START LOOKING AT A, I MEAN MUNICIPALITY LIKE HILTON HEAD ISLAND, THEY START LOOKING, ONE OF THE THINGS THEY LOOK FOR IS MANAGEMENT AND LEADERSHIP.
SO I WANT TO APPLAUD EACH ONE OF YOU FOR THE GREAT JOB OF LEADING AND FOR THE DECISION MAKING BECAUSE YOU ARE DRIVING RESULTS.
AND THIS TRIPLE A IS A REFLECTION OF THAT.
I ALSO WANT TO COMMEND THE TOWN MANAGER, AND I ALSO WANT TO COMMEND EVERY SINGLE EMPLOYEE IN THIS TOWN.
AND I AM BIASED ABOUT MY FINANCIAL TEAM, MY FINANCE DEPARTMENT TEAM, BECAUSE ALL OF YOU ARE WORKING TO, TO MAKE THIS POSSIBLE.
YES, THANK YOU MR. TOWN MANAGER.
HE IS HERE TODAY, SO THANK YOU.
UM, ONE OF THE THINGS THAT I WANT TO TALK ABOUT TODAY IS OUR PRELIMINARY 2024 NUMBERS.
AND I, I WANT TO MAKE SURE I STRESS THE WORD PRELIMINARY NUMBERS BECAUSE WE ARE STILL IN PROCESS OF CLOSING OUR YEAR.
WE'RE STILL MAKING ADJUSTMENTS, WE'RE STILL MAKING RECONCILIATIONS.
WE'RE STILL DOING A LOT OF DIFFERENT THINGS.
SO THESE ARE NOT FINAL NUMBERS, BUT THEY ARE PRELIMINARY NUMBERS.
AND I WANT TO, I DON'T KNOW IF YOU HAD THE CHANCE TO REVIEW THE REPORT, BUT IT'S A LITTLE DIFFERENT FROM WHAT WE ARE PROBABLY USED TO SEEING.
I DON'T HAVE A 40 50 PAGE REPORT.
I CALL THIS AN EXECUTIVE SUMMARY.
AND WHAT I WOULD LIKE TO DO THIS MORNING IS HAVE A DISCUSSION.
I WANT TO HEAR FROM YOU, HAVE QUESTIONS, HEAR FROM OUR COMMUNITY, BECAUSE I WANT TO TALK ABOUT HIGHLIGHTS.
I WANT TO MENTION SOME OF THE THINGS THAT WE DID IN 2024 AND WHERE WE ARE WHEN WE'RE TRENDING AS IT RELATES TO OUR 2024 NUMBERS.
SO IF WE MOVE TO THE NEXT SLIDE, IF I CAN GET THIS TO WORK, CAN YOU HELP ME WITH THIS? PLEASE? DO.
WE NEED A 12-YEAR-OLD
[00:05:01]
KEY.SO LET'S START TALKING ABOUT REVENUE.
SO THE WAY I WANT TO DO THIS IS TO START TALKING ABOUT REVENUES AND THEN MOVE TO OUR EXPENSES AND THEN TALK ABOUT HOW DO WE COMPARE TO THE YEAR BEFORE AND HOW DO WE COMPARE TO THE BUDGET.
SO THIS REVENUE NUMBERS THAT YOU HAVE IN FRONT OF YOU ARE THE ACTUAL REVENUES.
THIS IS WITHOUT ANY RE CLASSES, WITHOUT ANY TRANSFERS IN OR TRANSFERS OUT.
THIS IS JUST A PLAIN REVENUE THAT WE HAVE RECEIVED FOR 2024.
AND I WANT YOU TO NOTICE THAT THIS NUMBERS WENT FROM, IN 2023, THERE WAS A $75 MILLION REVENUE NUMBER THAT WE REPORTED, AND IT ACTUALLY WENT UP TO 93.8.
THAT IS A 24% INCREASE IN OUR REVENUES.
SO AS A TOWN, 24% INCREASE IS A BIG NUMBER.
AND THIS IS HOW WE, IF YOU LOOK AT THE DIFFERENT FUNDS THAT WE HAVE, THIS IS HOW THAT REVENUE IS REFLECTED OR LISTED.
SO WE HAVE, FOR OUR GENERAL FUND, WE HAVE ABOUT 46.9 95 IN REVENUE.
THAT IS RIGHT NOW IN OUR GENERAL FUND.
WE ALSO HAVE OUR DEBT SERVICE FUND, WHICH IS 6.97.
OUR C CS POINT 27, AND OUR HOUSING FUND IS 2.35.
WHAT I WANT TO HIGHLIGHT OUT OF THESE REVENUE NUMBERS THAT YOU SEE HERE IS ACTUALLY THAT WE, IN OUR BUDGET FOR 24, WE HAD A BUDGET.
WE PROJECTED 75.8, AND IN ACTUALITY WE GOT 93.8.
THAT IS AGAIN, A 24% INCREASE FROM WHAT WE WERE PROJECTING.
SO SOME OF THE BIG HIGHLIGHTS AND SOME OF THE BIG REVENUE INCREASES HAVE TO DO WITH INVESTMENT INCOME.
SO ONE OF THE THINGS, AND LET ME SEE IF I CAN GO DOWN.
ONE OF THE THINGS THAT I WANT YOU TO SEE IS SOME OF THE MAIN INCREASES, AND I'M LOOKING AT THE TOP THREE INCREASES THAT WE HAVE FOR REVENUE.
THE FIRST ONE IS INVESTMENT INCOME.
SO WE ACTUALLY DID A GREAT JOB INVESTING IN SHORT TERM TREASURIES, AND WE ACTUALLY GOT A $10 MILLION INTEREST INCOME FOR THE YEAR.
THAT IS THE LARGEST INTEREST INCOME THAT WE EVER HAD.
AND AGAIN, IT'S BECAUSE OF THE, OF THE REVENUE THAT WE HAVE AND THE SMARTEST DECISIONS THAT WE MADE AS IT RELATES TO INVESTING OUR MONEY, INVESTING OUR MONEY IN TREASURY FUNDS IN TREASURY, NO.
AND WE WERE VERY FORTUNATE THAT WE WERE ABLE TO INVEST IN AREAS WHERE THE INTEREST RATE WAS A GREAT INTEREST RATE.
SO THAT'S WHY WE HAVE $10 MILLION FOR THE YEAR IN INTEREST.
THE OTHER ITEM IS BUSINESS LICENSES.
SO OUR BUSINESS LICENSES WENT FROM A BUDGETED 12.4, AND WE ACTUALLY RECEIVED 14.7.
SO OUR BUSINESS LICENSES REVENUE ALSO INCREASED.
ANOTHER ONE THAT WE NEED TO LIST IS PROPERTY TAXES.
NO, WE DID NOT INCREASE PROPERTY TAXES, BUT OUR VALUE FOR OUR PROPERTY STATE OF THE ISLAND WENT UP.
SO WE ALSO HAVE BUDGETED 22.4, AND WE CAME BACK AT 24.6.
AGAIN, THAT IS A INCREASE OF $2.2 MILLION FROM WHAT WE WERE PROJECTING.
YOUR HONOR, DO YOU WANT QUESTIONS AS YOU'RE MOVING THROUGH OR SAVE THE QUESTIONS UNTIL NO, PLEASE DO ASK QUESTIONS.
I WANT THIS TO BE A DISCUSSION, SO PLEASE DO ASK QUESTIONS.
YES, WE'VE COME THROUGH A PERIOD OF RELATIVELY HIGH INTEREST RATES.
MM-HMM,
UM, WE HAVE TO BE CAUTIOUS IN PROJECTING, MOVING FORWARD BECAUSE INTEREST RATES HAVE BEEN MOVING BACK DOWN AGAIN.
SO LOOKING AT, UM, SOME OF THE INVESTMENTS THAT ARE COMING DUE THAT ARE MATURING.
SO NOW WE'RE LOOKING AT THE RATES ARE NOT AS HIGH AS THEY WERE BEFORE.
SO NOW WE'RE LOOKING AT AT 4%.
NOW WE'RE LOOKING, IF WE INVEST OUR MONEY IN EVEN LONGER TERMS, 18 MONTHS OR 24 MONTHS, THOSE RATES ARE EVEN NOW WHAT WE SEE NOW TODAY.
SO YES, TO YOUR POINT, WE CANNOT EXPECT IF WE EXPECT,
[00:10:01]
IF WE STAY AT THE BALANCE WHERE WE HAVE RIGHT NOW AND WE INVEST THAT MONEY RIGHT NOW, THEN THE PROJECTION IS NOT GOING TO BE AS HIGH AS THE $10 MILLION THAT WE HAVE SO FAR.CAN YOU EXPLAIN, UH, HOW WE DETERMINE WHAT WE WANT TO INVEST VERSUS WHAT WE NEED TO USE, UH, ON A MONTH TO MONTH BASIS? SO ONE OF THE THINGS THAT WE'RE LOOKING AT RIGHT NOW, AND THIS IS SOMETHING THAT MY TEAM AND I ARE LOOKING AT, UM, THE CASH THAT WE HAVE, THE LIQUIDITY THAT WE HAVE TODAY, RIGHT? SO WE HAVE THE OPTION OF INVESTING RIGHT NOW, EITHER IN TREASURY BILLS, UH, TREASURY NOTES, OR INVEST THE MONEY AT THE, AT THE STATE LEVEL.
SO WE ARE LOOKING AT WHAT DOES IT MEAN? WHAT DO WE NEED AS A TOWN? SO WE HAVE, WE HAVE CIPS, WE HAVE CAPITAL, UH, PROJECTS THAT WE NEED TO MAKE A DECISION AS A TOWN HOW WE'RE GOING TO PAY FOR THOSE PROJECTS.
YOU APPROVE A $74 MILLION BUDGET.
SO THE QUESTION IS, HOW DO WE PAY FOR $74 MILLION IN PROJECTS? DO WE USE OUR CASH? DO WE NEED TO ISSUE, UH, AN ADDITIONAL TIF? UH, SO WE'RE LOOKING AT WHERE WE ARE.
HOW MUCH MONEY ARE WE THINKING OF SPENDING? ARE WE GOING TO CONTINUE BUYING LAND? YES OR NO? SO WE NEED TO BE LOOKING AT ALL THE DIFFERENT EXPENDITURES.
HOW MUCH REVENUE ARE WE GOING TO GET? SO ONE OF THE THINGS THAT WE'RE DOING, UH, AS A DEPARTMENT TODAY IS CREATING, UM, A NEW ROLE THAT IS GOING TO BE DOING REVENUE FORECASTING.
WE NEED TO BE THINKING ABOUT HOW MUCH MONEY IS COMING IN AND HOW MUCH MONEY IS GOING OUT, BECAUSE WE CANNOT BE OVERSPENDING IF THE REVENUE IS NOT THERE.
AND IF WE LOOK AT THE A TAX, FOR INSTANCE, THAT IS ON THIS SLIDE, WE WERE PROJECTING OUR, UM, A TAX TO COME AT 13.8, AND IN ACTUALITY IT CAME BACK AT 12.7.
SO THAT IS A MILLION DOLLARS LESS THAN WHAT WE WERE PROJECTING.
SO WE NEED TO BE VERY CAREFUL HOW WE SPEND OUR MONEY.
DO WE WANT TO SPEND EVERYTHING THAT WE HAVE TO PAY FOR $74 MILLION IN PROJECTS? SO DO WE NEED TO CONSIDER OTHER THINGS? SO WE'RE GOING TO BE LOOKING AT WHAT DOES THAT REALLY LOOK LIKE? DO WE INVEST OUR MONEY IN 18 MONTHS TREASURY NODES WHEN WE KNOW THAT THE INTEREST THAT WE'RE GOING TO EARN IS NOT NECESSARILY AS HIGH AS WHAT WE'RE BEING UTILIZING OR WHAT WE'VE BEEN GETTING IN THE PAST? SO THERE'S A LOT OF DECISIONS THAT WE NEED TO MAKE IN THE UPCOMING YEAR.
A LOT OF DECISIONS THAT YOU NEED TO MAKE IN THE UPCOMING YEARS, BECAUSE WE NEED TO HAVE A BALANCE.
REMEMBER THAT CREDIT RATING THAT WE'RE CELEBRATING TODAY? THERE'S DIFFERENT DEPENDENCIES ON THAT CREDIT RATING.
A LOT OF IT HAS TO DO WITH LIQUIDITY, BUT ALSO SOMEONE HAS TO BE, I MEAN, IF WE DECIDE TO USE ALL THE MONEY TO PAY FOR THESE PROJECTS, THEN THERE'S GOING TO BE AN IMPACT ON OUR CREDIT RATING BECAUSE THE MONEY'S NOT GOING TO BE THERE.
SO WE NEED TO MAKE SURE THAT WE LEVERAGE AND BALANCE THAT WE DON'T WANT TOO MUCH DEBT, BUT THEN AT THE SAME TIME, WE DON'T WANT TO USE ALL OUR CASH.
SO WE HAVE TO BE SMART ON HOW WE UTILIZING WHAT WE HAVE TODAY.
WE WILL LOOK FORWARD TO THAT FORECAST.
ANY OTHER QUESTIONS? I, I WANTED TO, UM, ASK IN A FOLLOW UP OF WHAT, I'M NOT WANTING TO PUT YOU ON THE SPOT HERE, BUT IT'S VERY, UH, VERY INTERESTING THAT WE SEE A DECREASE IN OUR EIGHT TAX DOLLARS AND THEN YET AN INCREASE IN OUR BUSINESS LICENSE.
UM, SO I THINK IT'S IMPORTANT, UH, FOR US AS A COUNCIL TO REALLY UNDERSTAND WHAT, WHAT THAT MEANS, PARTICULARLY FROM THE BUSINESS LICENSE INCREASE STANDPOINT.
UM, WE WENT THROUGH RECLASSIFICATION SEVERAL YEARS AGO, UH, WHICH SORT OF GAVE US A LITTLE BIT OF A WINDFALL.
UM, BUT I, I THINK WE NEED TO UNDERSTAND THOSE CATEGORIES, OKAY.
AND WHERE WE ARE UP AND WHERE WE ARE DOWN.
UM, BECAUSE ULTIMATELY, YOU KNOW, SOME OF THE POLICY DECISIONS THAT WE MAKE COULD ULTIMATELY AFFECT THAT, THAT LINE ITEM.
SO, UM, I MENTIONED THE, UH, REVENUES, UM, FORECASTING ROLE.
SO THE REVENUE FORECASTING ROLE THAT I MENTIONED EARLIER.
UM, IT'S GOING TO BE LOOKING AT BUSINESS LICENSES.
IT'S GOING TO BE LOOKING AT SHORT TERM RENTALS.
IT'S GOING TO BE LOOKING AT, UM, A TAX.
IT'S GOING TO BE LOOKING AT ALL THE DIFFERENT SOURCES OF REVENUE.
AND ONE OF THE THINGS THAT WE NEED TO BE LOOKING AT, UH, MR. BROWN, TO YOUR POINT IS AS AN ISLAND, ARE WE, ARE WE GOING TO CONTINUE EXPECTING 3 MILLION PEOPLE IN,
[00:15:01]
IN VISITORS EVERY YEAR? IS THERE SOMETHING THAT IS HAPPENING WITHIN OUR ISLAND THAT WE'RE GOING TO CONTINUE THE SAME TREND? SO THERE'S AN ECONOMIC FACTOR, A ECONOMIC COMPONENT THAT NEEDS TO BE INCORPORATED AS WE DEFINE WHAT METRICS AND WHAT MEASUREMENTS WE NEED TO KEEP TRACK.SO TO YOUR POINT, YES, WE NEED TO UNDERSTAND HOW OUR BUSINESS OWNERS ARE DOING, WHAT KIND OF A WHAT SHOULD WE EXPECT AS IT RELATES TO BUSINESS LICENSES? UM, HOW TO, HOW ARE WE OPENING DOORS TO ENTREPRENEURS THAT WANT TO OPEN, UM, BUSINESSES, NEW BUSINESSES IN OUR ISLAND? SO THOSE ARE ALL COMPONENTS THAT WE NEED TO INCORPORATE AS PART OF OUR FORECASTING.
SO IF YOU MOVE TO THE NEXT SLIDE, IF YOU MOVE TO THE NEXT SLIDE, WE HAVE IN 2023, IT SHOWS THAT WE HAVE SPENT, WE SPENT $91.2 MILLION.
AND IF WE LOOK AT 24, IT SHOWS 1 0 1 0.8.
AND YOU MIGHT SAY, WOW, 12% INCREASE.
THAT SOUNDS LIKE A LOT OF MONEY.
BUT IN REALITY, IF WE LOOK AT OUR BUDGET, WE WERE FORECASTING $143 MILLION IN EXPENDITURES.
UM, IN ACTUALITY WE CAME BACK AT 1 0 1 0.86.
THAT'S A 29% DECREASE ACTUALLY FROM WHAT WE WERE PROJECTING.
A LOT OF THAT HAS TO DO WITH US DOING A BETTER JOB CONTROLLING OUR EXPENSES.
IF WE MOVE TO THE NEXT PAGE WHERE IT SHOWS ABOUT THE HIGHLIGHTS, ONE OF THE THINGS THAT I WANT TO BRING TO YOUR ATTENTION IS A LOT OF THE DECREASES HAPPEN.
AND THESE ARE THE TOP AREAS OF DECREASES FOR OUR EXPENDITURES.
I WANT TO START FIRST WITH THE CIP PROJECTS.
UM, WE BUDGETED AND YOU APPROVED $55 MILLION IN CAPITAL IMPROVEMENT PROJECTS.
OUT OF THOSE $55 MILLION WE SPEND 27.
AND YOU'RE PROBABLY THINKING, WHY DO WE APPROVE 55 IF YOU ONLY SPEND 27? ONE THING THAT YOU NEED TO KEEP IN MIND IS THAT THESE ARE MULTI-YEAR PROJECTS.
THESE ARE PROJECTS THAT WE HAVE TO APPROVE AHEAD OF TIME BECAUSE WE NEED TO MAKE SURE WE START APPLYING FOR BUS, UH, FOR LICENSES, FOR PERMITS SO WE CAN START DOING THESE PROJECTS.
SO A LOT OF THESE PROJECTS, YES, WE DID NOT NECESSARILY USE THE MONEY 'CAUSE WE DIDN'T FINISH ALL THESE PROJECTS.
THERE'S NO WAY WE CAN FINISH ALL THESE BIG PROJECTS IN ONE YEAR.
SO SOME OF THIS MONEY IS GOING TO CARRY FORWARD TO THE FOLLOWING YEAR AND TO THE NEXT YEARS.
SO WE CAN CONCLUDE AND FINISH THESE PROJECTS THAT YOU HAVE APPROVED.
SO A LOT OF THE DECREASE THAT WE REFLECT IS BECAUSE OF THIS PROJECTS THAT WE HAVE, AGAIN, APPROVED 55 HAS SPENT 27, WE HAVE REMAINING 22 THAT MOST LIKELY WILL BE A CARRY FORWARD FOR THE UPCOMING YEARS.
UM, WE HAVE HAD THIS DISCUSSION FOR THE EIGHT PLUS YEARS I'VE BEEN ON THE COUNCIL.
IS THERE AN OPPORTUNITY OR A WAY THAT WITH AN ASTERISK, YOU CAN SAY MULTI-YEAR PROJECT OR SOMETHING THAT EXPLAINS TO THE PUBLIC WHAT'S GOING ON? THANK YOU.
SO ONE THING TO ANSWER AND I CAN ANSWER FROM A FINANCIAL PERSPECTIVE, WE HAVE CREATED A NEW TEAM WITHIN THE FINANCE DEPARTMENT, UM, IS A CIP FINANCE, UM, ADMINISTRATION.
AND WHAT THAT TEAM IS GOING TO BE DOING IS ACTUALLY FINANCIALLY TRACKING WHERE WE ARE WITH THESE PROJECTS.
HOW MUCH MONEY HAVE WE SPENT? WHERE ARE WE, ARE WE 25% COMPLETE? ARE WE 50% COMPLETE? HOW MUCH MONEY IS REMAINING? SO TO ANSWER YOUR POINT, YES, WE NEED TO START TRACKING OUR PROGRESS, OUR PROGRESS AND OUR PROJECTS FINANCIALLY.
AND I KNOW, UM, TALKING TO OUR CIP TEAM AS WELL, UM, THEY'RE BUILDING DASHBOARDS AND THEY'RE BUILDING A LOT OF INFORMATION THAT IS GOING TO HELP US CAPTURE A LOT OF THAT.
SO THIS IS A WORK IN PROGRESS AND I'M HOPING THAT NEXT TIME WITH MEET, I CAN GIVE YOU MORE VISIBILITY ABOUT WHERE WE ARE WITH THAT, WITH THAT, UM, NEW TEAM THAT WE HAVE CREATED WITHIN FINANCE.
BECAUSE YOU'RE RIGHT, I THINK WE NEED TO GET TO THE POINT WHERE WE ARE TELLING YOU BY PROGRAM WHERE WE ARE AND HOW MUCH MONEY WE HAVE SPENT.
AND IT WOULD BE MORE THAN AN ASTERISK.
I THINK IT WOULD BE A HUGE STAR THAT SAYS, THIS IS WHERE WE ARE WITH THE PROJECT.
[00:20:01]
UH, THE NEXT SIDE BEFORE YOU MOVE ON, ADRIAN, JUST, UH, YOU'RE LOOKING FOR THE STARUM, JUST TO SORT OF, UH, PILE ON TO MR. AMES THOUGHT THERE.
UM, I, I THINK IT'S THE, THE MORE WE CAN DO TO HAVE THE PUBLIC UNDERSTAND OUR POSITION, THE BETTER OFF WE'LL BE.
UM, AND YOU'RE RIGHT, IT'S ALWAYS A MULTI-YEAR SITUATION, SO YOU MAY SEE INCREASES IN THE TOTAL BUDGET THAT, UH, SORT OF AFFECT THE ATTITUDE OF TOO MUCH, TOO MUCH, TOO MUCH.
UM, BUT I THINK ALSO UNDERSTANDING WHERE OUR FUND BALANCES ARE THAT SUPPORT THESE PROJECTS IS IMPORTANT AS WELL.
WE MAY HAVE COLLECTED THE MONIES OVER TIME AND NOW IT'S TIME TO SPEND, RIGHT? YES.
AND, AND I, AND I KNOW WE HAD A LOT OF CONVERSATION DURING THE BUDGET PROCESS FOR 25, AND I KNOW WE'RE NOT TALKING ABOUT 25 NOW.
I KNOW YOU APPROVED $74 MILLION AND, UM, PROBABLY SOME PEOPLE IN THE COMMUNITY ARE PROBABLY THINKING WE'RE GOING TO SPEND $74 MILLION IN ONE YEAR, AND THAT IS NOT GOING TO BE THE CASE.
I MEAN, WE STILL HAVE PROJECTS FROM PRIOR YEARS THAT WE HAVE NOT COMPLETED THAT WE'RE WORKING VERY HARD TO COMPLETE.
SO A LOT OF THAT IS SOMETHING THAT WE KEEP NEED TO KEEP IN MIND, BUT WE NEED TO GET THOSE APPROVED SO WE CAN START WORKING ON THOSE.
WHAT WE ARE SAYING HERE, I THINK, IS THAT YOU SHOW IT, WE SHOW A VARIANCE, IF YOU WILL YES.
OF $28 MILLION, UH, WITHOUT AN EXPLANATION IN THE REPORT.
WHEREAS I THINK WE KNEW THAT WE WERE GONNA BE SPENDING A CERTAIN PORTION OF THAT $74 MILLION, UM, IN THE CURRENT FISCAL YEAR.
AND SO TO BREAK THAT OUT SOMEHOW SO THAT IT'S MORE CLEAR TO THE PUBLIC THAT IT WAS, WE BUDGETED A CERTAIN AMOUNT OF THIS CIP WE PLANNED ON SPENDING A CERTAIN AMOUNT OF THIS CIP THIS YEAR AND THE BALANCE OF IT IN FUTURE YEARS.
SO I THINK PRESENTATION IS IMPORTANT BECAUSE MOST PEOPLE LOOK AT FINANCES, FINANCE REPORTS AT VARIANCES.
AND THIS IS, THIS IS A HUGE VARIANCE.
I UNDERSTAND IT, BUT I'M NOT SURE THAT, UH, THE AVERAGE CITIZEN ON THE ISLAND UNDERSTANDS IT.
UM, I DO PROMISE YOU, AND THIS IS A PROMISE, AND I DON'T TEND TO PROMISE THINGS LIGHTLY.
I DO PROMISE YOU THAT YOU WILL UNDERSTAND WHY WE HAVE THIS BIG BARRIERS AND WHERE IS IT SHOWN FINANCIALLY.
SO I CAN TELL YOU THIS PROJECT, THIS PROGRAM, THIS IS WHAT IS LEFT AND THIS IS HOW MUCH MONEY WE HAVEN'T SPENT OR WE NEED TO SPEND FOR A SPECIFIC PROJECT.
AS A MATTER OF FACT, THIS IS NOT A VARIANCE.
SO WE, YES, TO YOUR POINT, WE NEED TO GET TO THE POINT WHERE WE'RE TELLING YOU AND SHOWING YOU WHAT IS LEFT, WHAT IS REMAINING ON A PROJECT FINANCIALLY.
IT'S GOING TO TAKE SOME TIME, BUT PLEASE, UM, I ASK YOU FOR, AND I KNOW YOU HAVE TO RESPOND TO THE COMMUNITY BECAUSE THEY'RE ASKING QUESTIONS, BUT WE WILL PUT SOMETHING TOGETHER SO YOU CAN HAVE VISIBILITY AND TRANSPARENCY ON HOW THESE NUMBERS ARE COMING ABOUT.
AND THEN THE OTHER TWO ITEMS THAT WE HAVE ON THIS PAGE IS ALSO, UM, ON THE OPERATING SIDE.
AND AGAIN, THIS DOES NOT INCLUDE, UH, SALARIES AND COMPENSATION AS YOU CAN SEE, UM, DUE TO ALL THE DIFFERENT THINGS THAT WE'RE DOING FROM AN ADMINISTRATIVE PERSPECTIVE, FROM OUR CONTROL PERSPECTIVE, UH, WE BUDGETED 17.9 MILLION AND WE SPENT 14.6.
SO THAT IS, UH, THAT IS A SAVINGS.
I CALL IT A SAVINGS OF 3.3 THAT WE DIDN'T SPEND, UH, FROM THE PROJECTION, WHICH IS VERY SIGNIFICANT.
UM, THE OTHER ONE IS THE PERSONNEL AND BENEFITS.
UM, WE HAVE 36.5 AND THEN WE CAME BACK AT 35.
AND THAT SHOWS A DIFFERENCE OF $664,000.
A LOT OF THAT, UM, HAD TO DO WITH US NOT NECESSARY FILLING SOME OF THE SPOTS THAT WE HAVE, SOME OF THE OPEN POSITIONS WE HAVE.
SO I KNOW, AND I'VE BEEN HERE FOR FOUR MONTHS NOW, FOUR GOING ON 20 IN A GOOD WAY, BY THE WAY.
SO ONE OF THE THINGS THAT I, I, I HEAR ALL THE TIME, AND I PROBABLY HEAR THIS MORE THAN ME, IS THE BIG GOVERNMENT, BIG HEADCOUNT.
EVERY SINGLE PERSON THAT WE HAVE IN THIS TOWN, WE WORK VERY HARD TO MAKE THIS TOWN EVEN BETTER.
SO THIS MONEY THAT YOU SEE HERE IS MONEY THAT IS NOT WASTED BECAUSE EVERY SINGLE PERSON WORKS VERY HARD TO BE OUT THERE TO BE MAKING THIS COMMUNITY
[00:25:01]
EVEN BETTER.YES, IT IS A SAVINGS, BUT IT'S PROBABLY A REFLECTION TOO, OF US NOT FILLING EVERY SINGLE POSITION THAT WE HAVE.
AND I TELL YOU, I HAVE A TEAM, INCLUDING ME, A TEAM OF 25 PEOPLE, AND EVERY SINGLE PERSON WORKS VERY HARD.
THERE'S NO ONE OUT THERE IN THE OFFICE JUST SITTING DOING NOTHING.
AND I CAN TELL YOU THE REST OF THE TOWN IS IN THE SAME POSITION AS I AM, AND I DON'T HAVE ANY INCREASES.
NOTHING TO NOTE AS IT RELATES TO EXPENSES.
ANY OTHER QUESTIONS AS IT RELATES TO THIS? GOOD.
AND THIS, THIS IS OUR CONSOLIDATED, AGAIN, THIS IS OUR PRELIMINARY FINANCIALS.
IF WE'RE LOOKING AT 2023 VERSUS 2024, UM, THERE IS AN 8%.
AND AGAIN, THIS IS A, A NET, UH, NUMBER.
SO I'M NOT LOOKING AT ANY GROSS NUMBERS HERE.
SO WE ARE PROJECTING A 8% NET AMOUNT, WHICH IS REALLY GOOD FOR US BECAUSE THAT SHOWS THAT WE AS A WHOLE ARE DOING A GREAT JOB WITH OUR NUMBERS AND MANAGING OUR FINANCIALS AND EXPENSES AND REVENUES.
SO WHEN YOU SEE SOMETHING LIKE THIS, IT, IT IS A GOOD SIGN FOR OUR TOWN.
UM, AGAIN, THIS IS JUST A SUMMARY AGAIN, OF BEGINNING BALANCES AS OF JULY 1ST.
THEN IF YOU ADD THE REVENUES THAT WE TALK ABOUT PREVIOUSLY, MINUS THE EXPENSES THAT WE ALSO TALK ABOUT, IT GIVES YOU AN ENDING BALANCE OF 2 29.
YOU WANT TO SEE POSITIVE NUMBERS HERE, NOT NEGATIVE NUMBERS.
AND THIS IS SOMETHING GOOD FOR US AS A TOWN.
AGAIN, I REMIND YOU AND I REMIND THE COMMUNITY, THESE ARE PRELIMINARY NUMBERS, SO PLEASE DON'T QUOTE ME AGAIN WHEN YOU SEE A DIFFERENT NUMBER THAT THE 2 29, I'M NOT PROJECTING THIS NUMBER TO GO WAY OFF, BUT IT, IT MIGHT BE A LITTLE DIFFERENT.
BUT THIS IS A GOOD THING FOR US.
AND THEN THE LAST ONE THAT I HAVE IS THE CIP, WHICH IS THIS ONE OF YOUR FAVORITE TOPICS.
I HEAR AGAIN ON CIP, UM, SHOWING HERE THE BUDGET NUMBERS FOR 2024.
AGAIN, HERE'S YOUR 55 THAT YOU APPROVED.
AND THEN HERE IT SHOWS THE 27 THAT WE ACTUALLY SPENT.
AND WHAT I DID HERE IS ACTUALLY HAD A BREAKDOWN BY PROGRAM.
SO THE PROGRAMS ARE BEACH PATHWAYS, ROADWAY PARK, FACILITIES AND MANAGEMENT.
AS YOU CAN SEE, ALL THESE NUMBERS ARE MONEY THAT WE HAVEN'T SPENT.
IN SOME CASES WE PROBABLY HAVE FINISHED THE PROJECT, BUT IN IN OTHER CASES WE HAVE NOT.
SO THIS GIVES YOU HOPEFULLY A LITTLE BIT, NOT NECESSARILY BY PROJECT, BUT BY PROGRAM, WHERE WE ARE, WHERE WE'RE TRENDING, OF WHY, WHERE THE MONEY THAT WE HAVEN'T SPENT OR THE MONEY THAT THAT IS STILL CARRIED FORWARD FOR NEXT YEAR.
THIS IS WHERE WE ARE BY PROGRAM.
HOPEFULLY THIS WILL GIVE YOU SOME VISIBILITY OF WHERE WE ARE AS IT RELATES TO OUR CIP NUMBERS.
IT IS NOT THE ASTERISK THAT YOU'RE LOOKING FOR, BUT IT'S A LITTLE BIT CLOSER.
I I DO HAVE A, FROM A, FROM THE PUBLIC STANDPOINT, IF THEY SEE THIS, UM, UH, DISPLAY, UM, THE NEXT QUESTION IS GOING TO BE, SAY A PERSON IS INTERESTED IN PATHWAYS, GRACIOUS SAKES OF LIFE, WHEN AM I GOING TO SEE THE COMPLETION OF THAT PROJECT THAT IS REPRESENTED BY $5.4 MILLION? I THINK THERE'S ANOTHER LEVEL OF COMMUNICATION TO THE PUBLIC ABOUT TIMELINE.
'CAUSE DO WE REALLY EXPECT THAT THE UM, 4 MILLION OR THE 3.8 MILLION IS GONNA BE SPENT NEXT YEAR OR OVER THREE YEARS? SO YES.
SO WHERE AGAIN, WHERE WE NEED TO GET IS BEING ABLE TO WORK TOGETHER WITH OUR CIP TEAM AND OUR FINANCE TEAM.
SO WE CAN GIVE YOU THAT VISIBILITY THAT YOU NEED TO HAVE BY PROJECT, BY PROGRAM.
JUST TO MAKE IT VERY CLEAR, WE SITTING ON THE DIOCESE AND THE TOWN COUNCIL MAY UNDERSTAND THAT BECAUSE WE'VE BEEN A PART OF THAT CONVERSATION.
I'M, I'M SAYING TO THE PUBLIC.
AND, AND I DO UNDERSTAND WHAT YOU'RE ASKING.
UM, I NEED TO ASK FOR SOME TIME FOR US TO GET THERE, UNDERSTAND FOR OUR CIP TEAM TO
[00:30:01]
GET THERE BECAUSE WE, WE ARE TRYING TO MAKE THINGS BETTER BY BUILDING DASHBOARDS SO WE CAN COMMUNICATE THAT INFORMATION TO OUR PUBLIC.SO IT IS A, A REAL LIFE, REAL TIME INFORMATION AND NOT A TWO MONTH, THREE MONTH OLD INFORMATION, BUT IT, IT WILL TAKE TIME.
PARTICULARLY IF YOU COMPARE IT, IF WE HAD TRIED TO SPEND MORE THAN WE HAD BUDGETED, THEN WE WEREN'T FOLLOWING THE TERMS OF THE BUDGET.
SO MANAGEMENT'S DOING A GREAT JOB ON THAT.
UH, I THINK EVERYBODY'S DOING A GREAT JOB.
UM, YOU WITH YOUR DECISION MAKING AND BEING ON TOP OF THIS, OUR TOWN MANAGER DOING A GREAT JOB AND OUR EMPLOYEES HERE IN THE TOWN, UM, THIS IS OUR COMMUNITY.
WE ARE IN FINANCE SPECIFICALLY.
WE ARE THE CUSTODIANS OF THE MONEY.
AT LEAST THAT'S THE WAY I SEE IT.
SO THIS IS OUR MONEY, OUR TOWN, AND WE'RE HERE TO, TO CREATE THAT TRANSPARENCY AND VISIBILITY AND FOR PEOPLE TO UNDERSTAND OUR NUMBERS BETTER.
SO, ANY OTHER QUESTIONS? HAVE A FEW MORE, BUT I WANNA MAKE SURE WE GOT YES, GO AHEAD.
ANYTHING ELSE TO I DO, BUT IT'S NOT ON THIS SUBJECT.
UM, I GOT ONE THAT IS SORT OF, UH, IN LINES WITH THIS PAGE, YOU KNOW, IN THIS SPIRIT OF TRANSPARENCY AS WELL.
UM, YOU KNOW, COUNSEL, UH, OFTEN HAS TO, UH, PERFORM BUDGET AMENDMENTS.
AND, UM, I THINK SOMEWHERE ALONG THE LINE WE NEED TO REFLECT THOSE AS WELL.
I'M GLAD THAT WE ARE STILL WITHIN OUR MEANS THAT WE'VE MADE THOSE BUDGET AMENDMENTS, BUT I THINK IT'S IMPORTANT TO UNDERSTAND THAT OUR BUDGET DOES FLUCTUATE IN THEIR TIMES WHEN WE HAVE TO MAKE AMENDMENTS ALONG THE WAY.
SO, UH, PARTICULARLY DURING THE, UH, QUARTERLY REPORTING, I THINK IF THOSE ITEMS COME UP MM-HMM.
UM, ONE OF THE THINGS THAT WE'RE DOING, UM, A LITTLE DIFFERENT, UM, THIS YEAR IS WE ARE ACTUALLY ARE PAYING CLOSER.
WE HAVE ALWAYS PAID ATTENTION, BUT PAYING CLOSER ATTENTION ON, ON A MONTHLY BASIS IN OUR NUMBERS, MAKE SURE WE UNDERSTAND WHERE WE'RE GOING AND WHERE WE'RE TRENDING.
UM, BUDGET AMENDMENTS ARE THINGS THAT, UM, THINGS HAPPEN AND WE HAVE TO, THINGS THAT WE WERE NOT EXPECTING AND REQUIRE SOME BUDGET AMENDMENTS.
I'M HOPING THAT THAT WILL BE NOT THE NORM, BUT IT'S SOMETHING THAT DOES HAPPEN.
BUT WE'RE GOING TO CONTINUE AS A FINANCE TEAM, PAY CLOSER ATTENTION TO OUR NUMBERS, MAKE SURE THAT THERE ARE NO SURPRISES.
UH, WE ARE GOING TO HAVE THE NEXT, UH, I THINK IT'S IN OCTOBER WHEN WE'RE HAVING OUR FIRST AND SECOND READING, UH, FOR BUDGET AMENDMENTS.
SO YOU WILL HAVE MORE VISIBILITY ABOUT WHAT THAT IS AND WHAT NUMBERS WE'RE THINKING.
WE'RE GOING TO NEED YOUR, THE TOWN COUNCIL'S APPROVAL FOR THAT.
I'D LIKE TO, UM, CONTINUE THAT FOR JUST A SECOND.
I THINK THAT, UH, TO THE GENERAL PUBLIC, THE BUDGET AMENDMENT COMES WITH A SUSPICION THAT WE DIDN'T DO THE PLANNING.
SO I THINK IT'S INCREDIBLY IMPORTANT THAT BOTH FROM YOUR STANDPOINT AND THE COUNCIL'S STANDPOINT AND THE COMMUNICATION, UH, GOES OUT TO THE PUBLIC IN A WAY THAT THEY UNDERSTAND EXACTLY WHY IT TOOK PLACE.
I THINK ONE THING THAT WE, WE NEED TO DO A BETTER JOB IS EXPLAINING WHY THERE'S A DIFFERENCE OF WHY WE'RE GOING ABOVE, ABOVE BUDGET FOR A PARTICULAR ITEM.
SO YES, TO YOUR POINT, THERE HAS TO BE BETTER EXPLANATION, BETTER NOTES.
I'M ALWAYS CONCERNED ABOUT WHETHER THE DISASTER FUND IS ADEQUATE TO MEET AN ANTICIPATED DISASTER.
I KNOW WE HAVE SIGNIFICANT FUNDS SET ASIDE.
AND SO I WOULD LIKE TO SEE A REPORT, UH, FROM FINANCE SHOWING THE CURRENT, UH, DISASTER FUND, UH, AND SOME COMPARISON OF THE EXPENSES INCURRED, UH, AS ADJUST FOR INFLATION SO THAT THE FINANCE COMMITTEE AND THEN THE FULL COUNCIL CAN MAKE ADDITIONAL,
[00:35:01]
UH, SET ASIDES TO THE DISASTER FUND.THAT'S SOMETHING THAT'S REALLY IMPORTANT.
UH, UH, I ASK THIS QUESTION ABOUT ONCE A YEAR AND I'VE GOTTEN GOOD INFORMATION.
I JUST ASK THAT, THAT CONTINUE.
IF I CAN FOLLOW UP ON MR. STANFORD'S, UH, ISSUE.
UH, I BELIEVE IT'S FAIR TO SAY THAT IN THE EVENT OF A DISASTER, WE HAVE POTENTIALLY THREE DIFFERENT SOURCES WE COULD LOOK TO, TO DEAL WITH.
ONE IS THE DISASTER RESERVE ITSELF.
THE SECOND IS THE GENERAL FUND RESERVE, AND THE THIRD IS, UH, A MORATORIUM ON CIP EXPENDITURES.
AND IT IN MIND WITH WHAT YOU'RE SAYING, MR. STANFORD, I THINK THAT KIND OF INFORMATION, UH, COULD BE HELPFUL.
UH, BUT, BUT TOWN COUNCIL EMPLOYED BACK IN 2016, AND THAT WAS, WE ACTUALLY WENT OUT AND, UH, BONDED FOR $18 MILLION SO WE COULD GO BACK TO THE BOND FUND.
I HAVE MADE A NOTE AND I WILL CREATE THAT REPORT FOR YOU.
ANY OTHER QUESTIONS? THANK YOU.
I'M SATISFIED AT THIS POINT, YES.
UM, THE ONLY OTHER THING THAT I HAD HERE WAS, UH, YOU KNOW, WE'RE UNDERSTANDING THAT THESE ARE PRELIMINARY NUMBERS,
UM, AND THE CLOSE OF FY 24 IS WHEN, JUST ASK THESE QUESTIONS FOR PUBLIC KNOWLEDGE.
SO, ONE OF THE THINGS THAT AS PART OF, UH, MY ROLE AND ME COMING TO THIS TOWN IS LOOKING AT ALL THE DIFFERENT PROCESSES THAT WE HAVE IN PLACE.
SO ONE OF THE THINGS THAT I WOULD LIKE TO CHANGE IS, SO IN THE PAST WE HAVE RECEIVED AUDITED FINANCIALS IN DECEMBER.
ONE OF THE THINGS THAT I WANT TO DO IS REDUCE THAT TIMEFRAME, BECAUSE DECEMBER IS SIX MONTHS INTO OUR NEW FISCAL YEAR.
AND I KNOW, TO ME THAT SOUNDS LIKE A LONG, LONG TIME.
BUT ALSO AT THE SAME TIME, WE HAVE TO IMPROVE OUR PROCESSES INTERNALLY SO WE CAN REDUCE THE TIMEFRAME WHERE WE CAN GET OUR FINANCIALS AND OUR AUDITOR, EXTERNAL AUDITOR DO WHAT THEY NEED TO DO TO GET OUR, UH, AUDITOR FINANCIALS.
MY GOAL IS TO GET OUR FINANCIALS IN OCTOBER, AND THAT'S A LITTLE AGGRESSIVE.
UM, I HAD CONVERSATIONS ALREADY WITH THE EXTERNAL AUDITOR AND TRYING TO UNDERSTAND HOW WE CAN HAVE AND CONTINUE HAVING WHAT I CALL A REAL TIME AUDIT.
THAT MEANS WE FINISHED DOING OUR RECONCILIATIONS, DOING OUR REPORTING, AND WE SEND THAT INFORMATION TO THE AUDITOR SO THEY CAN START DOING THEIR AUDIT RATHER THAN WAITING UNTIL THE END OF US DOING CLOSING AND SENDING INFORMATION.
BECAUSE THAT'S WHAT, WHY WE HAVE THE DECEMBER CLOSING.
SO RIGHT NOW, LOOKING AT OUR PROCESSES, AND WHEN I'M LOOKING AT PROCESSES, I'M LOOKING AT EVEN THE ACCOUNTS PAYABLE, HOW WE RECONCILE OUR NUMBERS, HOW WE UTILIZING THE SYSTEM.
SO MY GOAL IS TO BE ABLE TO GIVE YOU PRELIMINARY NUMBERS, PRELIMINARY FINANCIALS, UH, ACTUALLY BY THE END OF THIS WEEK, AND HOPEFULLY, UM, UM, WE'RE GOING TO, WE START SENDING INFORMATION TO THE AUDITOR SO THEY CAN START WORKING ON THEIR, ON THEIR AUDIT.
AND MY GOAL IS TO FINISH AND GET OUT OF THE FINANCIALS IN OCTOBER.
HOWEVER, THAT CHANGES BECAUSE THE, IT, IT'S A LOT OF WORK TO GET TO THAT POINT.
IT'S A LOT OF WORK FOR MY TEAM TO BE ABLE TO GET ALL THE NUMBERS AND ALL THE INFORMATION TOGETHER.
SO I WILL PROBABLY GIVE YOU A BETTER UPDATE IF WE'RE GOING TO MAKE THAT OCTOBER DEADLINE.
AGAIN, THE OCTOBER DEADLINE IS FOR AUDITED FINANCIALS.
THAT MEANS WE, OUR NUMBERS HAVE TO BE OUT IN SEPTEMBER SO THE AUDITOR CAN FINISH AND DO THEIR WORK.
SO, I DON'T KNOW IF I ANSWERED YOUR QUESTION.
ANY OTHERS FROM, UM, ONE LESS, UH, POSITIVE TYPE OF ISSUE? UH, COULD YOU EXPLAIN WHAT TYPE OF CONTROLS YOU HAVE AGAINST INAPPROPRIATE ACTIONS THAT RESULT IN THEFT, LOSS AND SO FORTH WITH PURCHASING OR USE OF CREDIT CARDS OR OTHERWISE? 'CAUSE I KNOW THAT THIS IS A SUBJECT THAT IS QUITE PREVALENT AMONG NONPROFITS AND SOME GOVERNMENTS.
SO LET ME PUT MYSELF AS AN EXAMPLE.
I CANNOT NOT PUT INVOICES IN THE SYSTEM, SO I WILL NOT BE THE ONE TO BE CUTTING THE CHECKS.
SO THIS, UH, THIS SOMEONE THAT INPUTS AND THERE'S SOMEONE THAT APPROVES THE SEPARATION OF DUTIES AS IT RELATES TO OUR CREDIT CARDS IN PARTICULAR.
[00:40:01]
A, A TEAM THAT ACTUALLY REVIEWS EVERY SINGLE TRANSACTION.MAKE SURE THAT WHATEVER EXPENSES WERE CHARGED TO A SPECIFIC CREDIT CARD, WE HAVE THE RECEIPTS AND THE BACKUP TO BE ABLE TO SUPPORT THAT NUMBER.
AND THAT TRANSACTION THINGS HAVE TO BE APPROVED BY THAT DEPARTMENT HEAD, AND THEY HAVE TO BE APPROVED BY ME.
SO THERE'S A LOT OF DIFFERENT LEVELS OF CONTROLS, AND IF THE EXPENDITURE THERE HAVE LIMITS, EVERY CREDIT CARD HAS A LIMIT.
SO YOU CANNOT JUST, UM, HAVE UNLIMITED ACCESS TO FUNDING THROUGH CREDIT CARDS.
THERE'S A CHECK AND BALANCE AS IT RELATES TO THAT.
UM, EVERY DEPARTMENT HEAD IS ACCOUNTABLE FOR THE TRANSACTIONS THAT ARE TAKING PLACE WITHIN THOSE CREDIT CARD EXPENSES WITHIN THEIR TEAM.
ONE OF THE THINGS THAT WE ARE REVIEWING CLOSELY IS THE USAGE OF CREDIT CARDS AS IT RELATES TO BUYING TOOLS, AS IT RELATES TO BUYING THINGS THAT ARE CONSIDERED A FIXED ASSET.
SO THERE'S GOING TO BE NEW POLICIES TO UPDATE AND, AND, AND MAKE SURE THAT THINGS ARE, WE USE THE CREDIT CARDS ONLY FOR THE PURPOSE THAT WE HAVE IN A POLICY.
AND WE HAVE PASSED IN OUR ORDINANCE, SO THINGS ARE NOT BEING ABUSED.
SO THERE'S A, A CHECK AND BALANCE.
UH, THERE'S AN APPROVER, THERE'S A SIGNER, AND THERE'S A LOT OF DIFFERENT LEVELS OF APPROVAL BEFORE IT GETS TO ME.
LIKE I REVIEW EVERY SINGLE CONTRACT NOW THAT WE HAVE FOR ANY EXTERNAL CONTRACTORS.
SO ALL OF THAT HAS TO BE APPROVED BY ME.
AND I DO NOT HAVE ACCESS TO HAVE A CHECK PAYABLE TO ADRIANA BRUNETTE IN THE SYSTEM, NOR I WOULD LIKE TO HAVE THAT ACCESS.
THERE'S MORE THAN ONE PERSON DOING THAT AND LOOKING AT THAT.
AND THEY'RE GOING TO CONTINUE BEING REVIEWED.
UM, ONE OF THE THINGS THAT I WANT TO DO WITHIN THE TEAM IS REVIEW AGAIN, OUR POLICIES THAT WE HAVE IN PLACE.
AND I'M TALKING ABOUT OPERATING AND ADMINISTRATIVE POLICIES.
UM, ONE OF THE THINGS THAT WE NEED TO DO IS MAKE SURE THAT WE HAVE THAT REVIEW HAPPENING EVERY YEAR, NOT THAT WE CREATE A POLICY AND THEN THREE YEARS LATER WE ARE REVIEWING THE POLICY.
IT HAS TO BE DONE ON A ANNUAL BASIS.
UH, THIS IS, I THINK THE FIRST MEETING WHERE I'VE BEEN, UH, PRESENTED WITH YOUR, UM, FACTS AND FIGURES.
UM, I HAVE A, I'M GLAD YOU'RE HERE.
I HAVE A SENSE OF CONFIDENCE THAT YOU'RE HEADING IN A GOOD DIRECTION.
I SEE A PART OF YOUR STAFF BACK THERE.
I KNOW
THEY DO, THEY DO A GREAT JOB ALSO.
I'M VERY COMFORTABLE WITH THE DIRECTION.
UH, YOU'VE BEEN HERE JUST FOUR MONTHS.
DO YOU HAVE, UH, IDEAS OR SUGGESTIONS OF POLICIES THAT THE TOWN COUNCIL SHOULD BE CONSIDERING DISCUSSING AT THE FF AND A LEVEL? I HAVE A LOT OF IDEAS.
I ACTUALLY HAVE, UM, I LOVE TECHNOLOGY.
SO TECHNOLOGY IS ONE OF THE MAIN THINGS, UH, IN MY BOOK.
I THINK AS IT RELATES TO COUNCIL, I THINK WE NEED TO BETTER UTILIZE OUR TECHNOLOGY.
AND SOMETHING AS SIMPLE AS PRINTING A REPORT, WHY DO WE NEED TO PRINT A REPORT IF WE HAVE TECHNOLOGY IN PLACE? SO AS YOU START LOOKING AT OUR REPORTING, AS YOU START LOOKING AT OUR NUMBERS AND WE GIVE YOU MORE VISIBILITY OF OUR NUMBERS, I THINK CONTINUE ASKING THOSE QUESTIONS ABOUT WHAT DOES, WHY IS THIS NUMBER, WHY IS THIS NUMBER DIFFERENT? AND HOW DO WE UTILIZE TECHNOLOGY TO BE ABLE TO DO A LOT OF THE ANALYSIS AND THE STATISTICS THAT WE NEED TO PUT IN PLACE? SO AS IT RELATES TO POLICY, WE NEED TO START LOOKING AT RISK.
WHAT IS RISK? RISK IS NOT ONLY FINANCIAL RISK, THERE'S A LOT OF DIFFERENT TYPES OF RISK.
SO BEING ABLE TO START LOOKING AT WHAT IS THE RISK AND HOW DO WE PROTECT OUR TOWN AGAINST THAT RISK? UM, THERE'S A LOT OF DIFFERENT IDEAS THAT I HAVE, AND I WOULD LOVE TO, UM, POTENTIALLY SIT DOWN WITH YOU AND OUR TOWN MANAGER TO START TALKING BRAINSTORMING.
I BELIEVE IN BRAIN HAVING BRAINSTORMING SESSIONS WHERE WE ACTUALLY ARE BRAINSTORMING ABOUT DIFFERENT THINGS AND START LOOKING AT THINGS FROM A DIFFERENT PERSPECTIVE.
I KNOW RIGHT NOW THINGS ARE GREAT AND WE ARE IN A GREAT PLACE WITH OUR CREDIT RATING, WITH OUR NUMBERS HAVING MORE TRANSPARENCY.
[00:45:02]
BUT IT'S TIME FOR US TO PROBABLY START THINKING STRATEGICALLY AND THE TACTICAL.AND AS WE START DEFINING WHAT THAT IS, STARTED PUTTING POLICIES AND CONTROLS IN PLACE TO BE ABLE TO GET TO WHERE WE NEED TO GET.
SO I SUGGEST FOR US TO START DOING BRAINSTORMING, THINKING STRATEGICALLY, THINKING ABOUT DO WE NEED A LIST OF THINGS OR DO WE NEED A STRATEGIES SO WE CAN START MOVING OUR ISLAND TO EVEN A BETTER AND BETTER PLACE? SO, UH, I'D BE GLAD TO SHARE MY LIST WITH YOU, SIR.
WE'RE GONNA HAVE A PUBLIC COMMENT AT
[5. Public Comment - Non Agenda Items]
THIS POINT.ANY PUBLIC COMMENT ON THIS PARTICULAR ITEM? YES, PLEASE.
JUST, UH, WROTE DOWN A COUPLE OF NOTES.
UM, IT WAS A GREAT DISCUSSION.
I MEAN, I THINK THIS IS THE BEST DISCUSSION I'VE SEEN AT THE FINANCE MEETING, UM, IN REGARDS TO, UH, A LOT OF DIFFERENT TOPICS.
FIRST OF ALL, I WANNA CONGRATULATE YOU ON THE TRIPLE A RATING.
THAT'S A BIG WIN, UH, FOR THE TOWN, AND IT'LL, IT'LL PAY DIVIDENDS MOVING FORWARD.
UM, I ALSO APPRECIATE THE FOCUS ON FORWARD THINKING.
UM, I KNOW YOU CAN GET AND SPEND A LOT OF TIME, YOU KNOW, RECONCILING THE RESULTS AND, AND SHOWING WHERE YOU HAVE ENDED, BUT IT'S SO IMPORTANT TO BE FORWARD THINKING.
AND SO THE REVENUE FORECASTING POSITION, I THINK IS GONNA PAY A LOT OF DIVIDENDS IN REGARDS TO PROVIDING YOU, UH, FORECASTED TRENDS TO THINK ABOUT AND HOW THAT WILL IMPACT THE FINANCIALS OF THE ISLAND.
UM, I LIKE THE CONCEPT OF THE DECISION MAKING VER VERSUS ON THE INVESTMENTS AND THE THINGS THAT YOU'RE GONNA BE THINK ABOUT GIVEN THE, UH, LOWER INTEREST RATE AND THE LADDERING OF INVESTMENTS TO MAKE SURE THAT YOU HAVE THE APPROPRIATE CASH FLOW.
UH, I LIKE THE CONVERSATION REGARDING, UH, DECISION MAKING ON CIP PROCESS AND THE TRANSPARENCY OF HOW YOU WILL PAY WHAT BUCKETS OF MONEY YOU'LL USE.
UM, AND THAT SHOULD BE PART OF THIS, UH, THE DECISION MAKING PROCESS.
AND I AGREE WITH YOUR CONCEPTS OF EXPANDING ON THE VARIANCE ANALYSIS AND, UH, LAYING OUT WHAT THE KEY DRIVERS ARE, UM, SO THAT PEOPLE CAN UNDERSTAND.
UH, AND LASTLY, I THINK THERE IS THE OPPORTUNITY FOR BETTER COMMUNICATION TO THE PUBLIC, UH, TO TELL YOUR STORY.
AND I THINK, UM, THAT THAT'S GONNA BE IMPORTANT, UM, FOR NOW AND IN THE FUTURE.
THANK YOU AGAIN TO, I'LL TRY TO ASK DIRECTOR AND I'LL TELL MANAGER KEEPING US ON TRACK HERE.
UH, NOW WE'LL MOVE ON TO DID YOU HAVE SOMETHING ELSE SPECIFIC, UH, PUBLIC COMMENT ON NON-AG AGENDA ITEMS. IS THERE ANYONE THAT HAS SIGNED UP TODAY AGAIN? NO.
UH, WE WILL ASK AGAIN IF THERE'S ANYONE THAT WILL SPEAK ON, UH, NOT AGENDA ITEMS TODAY.
C WE WILL MOVE ON TO THE PART THAT COUNCIL WILLIAMS HAS BEEN LOOKING FOR.
[6. Adjournment]
UH, MOVE FOR ADJOURN.ALRIGHT, EVERYONE, HAVE A GREAT DAY.
HERE'S WHAT'S HAPPENING IN BEAUFORT COUNTY.
A FEW MILES FROM BEAUFORT, SOUTH CAROLINA.
IN THE TOWN OF PORT ROYAL STANDS A PROPERTY OF NATIONAL IMPORTANCE.
IN FACT, IT'S LISTED IN THE NATIONAL REGISTER OF HIS HISTORIC PLACES.
FOR MORE THAN A DECADE, THE ONLY PUBLIC ACCESS TO THE PROPERTY HAS BEEN BY WATER.
SOUTH CAROLINA'S DEPARTMENT OF NATURAL RESOURCES IS WORKING TO PROVIDE ACCESS FOR ALL.
FOR THIS TO HAPPEN, A CULTURAL RESOURCES, INVENTORY, OR ARCHEOLOGY MUST BE DONE BUILT FROM TABBY, A MIXTURE OF OYSTER SHELLS, LIME,
[00:50:01]
SAND, AND WATER.SIMILAR IN MANY WAYS TO CONCRETE.
FORT FREDERICK'S CONSTRUCTION WAS ORDERED IN 1726 BY THE BRITISH COLONIAL GOVERNMENT TO GUARD PORT, ROYAL SOUND, AND THE TOWN OF BEAUFORT FROM APPROACH BY SPANISH WARSHIPS.
AN ESTIMATED 50,000 BUSHELS OF OYSTERS WERE NEEDED FOR THE FIVE FOOT HIGH, FIVE FOOT THICK TABBY WALLS.
IT IS THE OLDEST TABBY STRUCTURE IN SOUTH CAROLINA.
THE ADJACENT PROPERTY IS THE UNITED STATES NAVAL HOSPITAL.
ON THIS PROPERTY WAS THE 19TH CENTURY SMITH PLANTATION, WHICH BECAME THE UNION ARMY'S CAMP SAXTON DURING THE CIVIL WAR AND HOME OF THE FIRST REGIMENT COMPRISED OF FREED SLAVES.
THE OBJECT IS TO EXTRACT AS MUCH INFORMATION AS POSSIBLE IN A GIVEN AMOUNT OF TIME.
THERE IS A CERTAIN METHODOLOGY USED IN AN INVESTIGATION LIKE THIS COME ALONG AND SEE HOW IT'S DONE.
THE INITIAL SHOVEL TESTS DUG RANDOMLY AROUND THE SITE, EXAMINED THE DENSITY OF ARTIFACTS AND THE PERIOD OF OCCUPATION AT FORT FREDERICK.
ARTIFACTS INCLUDED 19TH CENTURY, 18TH CENTURY, AND PREHISTORIC OBJECTS.
THIS IS A FLAKE, A STONE TOOL, FLAKE.
IT'S A PIECE OF CHURCH FROM ALLENDALE COPPER SITE, TOP OF THAT AREA.
IT KIND OF TELLS YOU HOW RICH IT IS OUT HERE.
WITH THESE INITIAL TESTS, ARCHEOLOGISTS DETERMINE THE DEPTH REQUIRED OF THE SHOVEL TESTS IN THE NEXT PHASE.
THAT DEPTH IS WHEN THEY REACH A STERILE SOIL LAYER WHERE THEY NO LONGER SEE CULTURAL MATERIAL.
FOR PHASE ONE OF THIS PROJECT, A GRID IS LAID OVER THE SITE MAP.
THE SCOPE OF WORK HERE CALLS FOR SHOVEL TEST PROBES EVERY 10 METERS ACROSS THE ENTIRE THREE ACRES, RIGHT? OH.
USING A SURVEYING INSTRUMENT CALLED A TOTAL STATION PIN FLAGS ARE PLACED TO MATCH THE GRID MAP.
EACH FLAG IS IDENTIFIED BY ITS EXACT LOCATION.
A FIELD TEAM FROM THE UNIVERSITY OF SOUTH CAROLINA'S INSTITUTE OF ARCHEOLOGY AND ANTHROPOLOGY IS CONTRACTED TO CONDUCT THE FIELD WORK.
THE DATA COLLECTED FROM THE SHOVEL TESTS WILL GUIDE THE UPCOMING MONTH LONG EXCAVATION, AS WELL AS ANY THAT MAY BE UNDERTAKEN IN YEARS TO COME.
ALL THE SOILS ARE SCREENED THROUGH A QUARTER INCH MESH.
ALL ARTIFACTS ARE BAGGED ACCORDING TO THEIR EXACT LOCATION AND DEPTH FOR LATER ANALYSIS FOR THE NEXT PHASE.
UNITS OF TWO METERS IN DIAMETER ARE LAID OUT IN THE AREAS CONFIRMED BY THE SHOVEL TESTS.
TO HAVE THE HIGHEST DENSITY OF ARTIFACTS, THE FIELD TEAM REMOVES SOIL LAYER BY LAYER.
SO HOW DEEP IS EACH LEVEL? SOMETIMES A STANDARD DEPTH OF 10 CENTIMETERS IS USED AT FORT FREDERICK.
THEY'LL EXCAVATE LAYERS ACCORDING TO CHANGES IN SOIL COLOR.
AGAIN, ALL THE DIRT IS SCREENED AND THE ARTIFACTS BAGGED.
THIS INFORMATION WILL ACCOMPANY THE ARTIFACTS THROUGHOUT THE CURATION PROCESS.
THESE UNITS SHOW AN OCCUPATION FROM THE FIRST HALF OF THE 19TH CENTURY.
THIS IS STONE AMERICAN STONEWARE WITH ONLY FOUR WEEKS BUDGETED FOR THE PROJECT.
THE FIELD TEAM MUST BE METICULOUS AND QUICK AT THE SAME TIME.
MOTORIZED SCREENERS HELP SPEED SIFTING THROUGH LARGE VOLUMES OF SOIL.
WHILE SOME TASKS REQUIRE A MORE DELICATE TOUCH LOOKING CLOSELY.
SOME AREAS SHOW A COLOR CHANGE IN THE SOIL CALLED FEATURES.
THESE AREAS WERE LIKELY DISTURBED BY HUMANS IN THE PAST, WHERE THESE POST HOLES FOR A STRUCTURE OR HOLES WHERE ITEMS OFTEN TRASH WERE BURIED.
THESE FEATURES ARE EXCAVATED FURTHER AS THEY OFTEN YIELD ARTIFACTS.
AND THESE FEATURES MUST BE EXCAVATED TO THEIR STERILE SOIL LAYER.
WORK IN THIS AREA OF THE SITE IS PLANNED FOR TWO WEEKS.
FOR THE SECOND HALF OF THIS PROJECT, THE TEAM MOVES TO THE FORT ITSELF.
THE DECISION IS MADE TO LAY OUT CONTIGUOUS TWO METER UNITS THAT SPAN THE FORT'S INTERIOR WALL TO WALL.
GIVEN THE DEPTH REQUIRED, THERE IS A LOT OF DIRT TO BE MOVED
[00:55:09]
NEAR THE EAST WALL.THE TEAM ENCOUNTERS A RUBBLE FILLED FEATURE.
THIS FEATURE IS EXCAVATED AND THE CONTENT'S BAGGED FOR THE TRIP TO THE LAB.
EVERY CONCEIVABLE DATA POINT, STRATIGRAPHY SOIL COLORS, DEPTHS, AND FEATURES IS COLLECTED FOR LATER ANALYSIS.
THE EXCAVATION OF THE FORT'S INTERIOR HAS EXPOSED THE FULL DEPTH OF THE WALLS, YIELDING ARTIFACTS FROM PREHISTORIC TIMES THROUGH THE 19TH CENTURY.
NOW, LAB ANALYSIS WILL BEGIN TO PIECE TOGETHER UNKNOWN FACTS ABOUT THE SITE'S LONG OCCUPATION.
BUT FIRST, BEFORE LEAVING THE SITE, THE UNITS ARE BACK FILLED TO PRESERVE THEIR INTEGRITY AND ENSURE THE SAFETY OF THE PUBLIC.
UH, WE'VE BEEN REFERRING TO IT AS THE RUBBLE SCATTER.
AFTER MANY MONTHS IN THE PLANNING STAGES, A WEEK OF SHOVEL TEST PROBES, A MONTH OF UNIT EXCAVATIONS WITH MOUNTAINS OF SOIL MOVED, PLUS WEEKLY ENGAGEMENT WITH THE PUBLIC.
ARCHEOLOGY AT THIS SITE IS DONE FOR NOW.
NEARLY TWO TONS OF OYSTER SHELL BRICK AND ARTIFACTS WERE TRANSPORTED TO THE INSTITUTE OF ARCHEOLOGY AND ANTHROPOLOGY AT USC IN COLUMBIA FOR ANALYSIS.
IT IS HERE THAT THE SIGNIFICANCE OF WHAT THEY FOUND WILL BE ASSESSED AND ADDED TO OUR UNDERSTANDING OF THOSE WHO OCCUPIED THE FORT FREDERICK HERITAGE PRESERVE.
AND THAT'S WHAT'S HAPPENING IN BEAUFORT COUNTY AS A MASS COMMUNICATION SPECIALIST.
WHAT WE DO IS WE TELL THE NAVY STORY INTERNALLY TO THE SAILORS IN THE FLEET AND ALSO EXTERNALLY TO THE CIVILIAN POPULATION.
TAKING PHOTOS, SHOOTING VIDEOS, WRITING STORIES, BROADCAST JOURNALISM, WORKING WITH GRAPHICS, WEB DESIGN.
YOU KNOW, WE LIVE IN AN AGE OF MEDIA AND THAT'S OUR JOB.
THAT'S WHY WE DO, WE GET THE MESSAGES OUT, WE TRAIN TOGETHER.
SO WHEN WE DEPLOY, WE DEPLOY AS A TEAM.
TEAMWORK'S VERY IMPORTANT FOR OUR COMMUNITY 'CAUSE WE'RE ALWAYS LEARNING FROM EACH OTHER.
OUR JOB IS VITAL TO THE GLOBAL WAR ON TERROR.
WE ARE ABLE TO TRANSMIT REALTIME VIDEO, REALTIME INTELLIGENCE BACK TO THE DECISION MAKERS TO ALLOW THEM TO CONTINUE TO BRING THE FIGHT TO THE ENEMY.
I THINK WE HAVE THE BEST JOB IN THE NAVY.