2015 1st Quarter Report

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ADMINISTRATION Finance Downtown Development Human Resources Public Information Legislative Update 2014 Annual Turnover Report Human Resources tracks and analyzes Town turnover on an annual, calendar-year basis, searching for trends of concern and taking appropriate action where necessary. This analysis differentiates between positive and negative turnover. Negative turnover includes the loss of strong performers who leave for employment with another municipality or private employer in the area. We separately analyze reasons for these resignations to determine any issues that need to be addressed within a specific department or division. Positive turnover includes separations of employees who are poor performers. This includes any employee with past performance or conduct issues and/or employees who resign before any pending disciplinary action. Annual Turnover Statistics Overall turnover rate 5.5% Total separations during the year, out of an average of 1170 employees 65 The chart illustrates the breakdown of 65 separations. Out of the 42 separations due to resignation, 17 are considered to be positive separations. Treasury Management Investment rates remain low. Due to conservative interest income budgeting, interest earnings for FY15 are projected to exceed budget by over $600,000 across the General Fund, Utility Fund and Capital Reserve Funds. The Town's total interest income should exceed $2 million for the fiscal year compared to $1.5 million budgeted interest income, but still remains a small source of revenue for the Town compared to better years when interest income was $10 million or more. Utility Revenue Bond Sale The Town held a $54 million revenue bond sale primarily to finance the water treatment plant expansion project. Included in the sale was almost $16 million used to refinance existing bonds. The bond sale locked in an average rate of 3.12% for 25 years for the water plant project. The debt service has been incorporated in the Town's utility rate planning since the project was first included in the capital improvement plan. The refinancing component of the sale generated $1.5 million in future interest expense savings over the next 16 years. Security of Information As called for annually, staff has reviewed the policy related to the protection of sensitive information. Staff training was incorporated into the activities for Sunshine Week. A more thorough review of the policy and procedure is planned within the next several months in order to address certain statutory changes, as well as other technology security related changes that are currently being implemented. Any changes to the policy will require Council approval. Special Reporting Agreement As required by the Town's current contractual agreement with Western Wake Regional Wastewater Management partners, the Town's auditors performed special procedures for the fiscal year that ended June 30, 2014. This included a review of all projects related to the facilities covered by the interlocal agreements with Apex, Morrisville, and Wake County. Partner billings were reviewed for mathematical accuracy and the percentages billed were verified against the agreements. Partner participation was found by the auditors to be accurate and compliant with the agreement. Auditors also noted the calculations appear to be mathematically accurate and consistent. Manager approved contracts 37

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