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Staff proposes $25 million disaster‑retention reserve to cover non‑reimbursable storm costs
Summary
County budget staff recommended adding a new ad valorem 'disaster retention' reserve with a $25,000,000 target to fund non‑reimbursable disaster expenses; commissioners debated making that a minimum or setting a percentage target and asked staff to bring an agenda item and budget adjustment.
Francine Lisby, the county's assistant budget director, recommended that Charlotte County add a disaster‑retention subcategory to its ad valorem reserve policy and aim for a $25,000,000 balance to cover non‑reimbursable expenses from natural disasters.
"This reserve ... will be established to fund non‑reimbursable expenses resulting from a natural disaster and that we would strive to maintain a balance of $25,000,000 in this reserve," Lisby said. She told commissioners the figure was based on the county’s exposure over the last three storms.
Commissioner Rick Truax urged making $25 million a minimum goal. "I'd like to see us set the $25,000,000 as a minimum goal," he said; other commissioners proposed tying the target to a percentage of ad valorem revenue instead, discussing ranges around 4–5 percent so the floor would scale with valuation growth.
Staff told the board it could move funds from fiscal stabilization into the new restricted fund and would bring a ledger item and a quarterly budget adjustment for formal action. Lisby said roughly $6.8 million could be reallocated and that fiscal stabilization currently stands at about $55,000,000 (17.12 percent of the measured base), above the county's 15 percent guideline.
Commissioners did not vote on the policy at the workshop but reached consensus for staff to return the formal amendment and a budget adjustment for the board’s regular meeting.
