1. Board of Commissioners (BOC)

MINUTES TOWN OF PITTSBORO BOARD OF COMMISSIONERS SPECIAL MEETING THURSDAY, NOVEMBER 5, 2020 5:00PM Members Present (Virtual): Mayor Jim Nass, Mayor Pro Tern Pamela Baldwin, Commissioner John Bonitz, Commissioner Jay Farrell, Commissioner Michael Fiacco and Commissioner Kyle Shipp. Staff Present (Virtual): Town Manager Chris Kennedy, Town Attorney Paul S. Messick, Finance Director Heather Meacham, Town Clerk Cassandra Bullock. Mayor Jim Nass called the meeting to order. Introduction & General Overview of Agenda Town Manager Chris Kennedy provided an overview of the Agenda and explained the purpose of this special meeting. Budget Schedule for Fiscal Year 2021-22 Town Manager Chris Kennedy described the process planned for the preparation of the Fiscal Year 2021-22 budget. Mr. Kennedy discussed the concept behind the Budget Scoping Sessions, the calendar of events and deadlines for staff preparation of the budget and the tentative dates for budget retreats and the budget public hearings. The Board of Commissioners asked questions of the Town Manager and discussed this topic. Current Revenues and Fiscal Year 2020-21 Updates Town Manager Chris Kennedy provided an update of the current revenues and fund balances in both the Town's General and Enterprise Funds. Mr. Kennedy stated that the General Fund Available Fund Balance (AFB) is currently $3.451 million, or 64%. The Enterprise Fund Retained Earnings (RE) balance is currently $2.079 million, or 52%. Mr. Kennedy also discussed our year­ to-date (YTD) sales tax revenue and stated that the receipts are tracking above projects in the amount of $56,000 above expected and are tracking to finish with $221 thousand above projected in the sales tax revenue for the fiscal year. Mr. Kennedy advised that we continue to consider passing a conservative budget next fiscal year due to COVID-19 considerations. The Board of Commissioners asked questions of the Town Manager and discussed this topic. Continuation Budget Request for Fiscal Year 2021-22 Town Manager Chris Kennedy discussed the continuation request for next fiscal year including capital projects, debt service and operating cost concepts. The Board of Commissioners asked questions of the Town Manager and discussed this topic. Discussion of New Budget Requests for Fiscal Year 2021-22 Town Manager Chris Kennedy discussed a proposal for an increased Fund Balance Policy in both the General and Enterprise funds. Mr. Kennedy proposed that the Town create additional and individual Capital Project Funds for projects such as Affordable Housing, Sidewalks, Streets, Parks & Recreation Sanford Sewer Line, Town Hall, Stormwater and other projects that persist beyond one fiscal year. Mr. Kennedy also discussed additional staffing needs and positions that may be requested as part of the fiscal year 2021-22 budget process. The Board of Commissioners asked questions of the Town Manager and discussed this topic. Next Steps & Final Comments The Board of Commissioners and the Town Manager discussed the next steps in the budget process and decided to hold a second budget scoping session in December 2020. The exact date and time of this second session was not set, but it was agreed that it will be conducted as a Special Meeting of the Board of Commissioners. Adjournment Commissioner Shipp made a motion to adjourn, seconded by Commissioner Fiocco. Vote: Aye-5 Nay-0 Mayor Nass: NIA Mayor Pro Tern Baldwin: Aye Commissioner Bonitz: Aye Commissioner Farrell: Aye Commissioner Fiocco: Aye Commissioner Shipp: Aye Motion passed. �M� Cassandra M. Bullock, Town Clerk 2