AGENDA #1

MEMORANDUM

TO:	Roger L. Stancil, Town Manager
FROM:	Kenneth C. Pennoyer, Director of Business Management Valerie Meicher, Human Resource Development Director
SUBJECT:	Budget Work session Agenda for May 13, 2009
DATE:	May 13, 2009

The Budget Work session for May 13th will include presentations by Davenport & Company, the Town’s Financial Advisor; Hill, Chesson and Woody (HCW), Benefits Consultants and the North Carolina Interlocal Risk Management Agency (NCIRMA); managers of the workers compensation insurance pool that the Town participates in. The following is a brief description of the presenting organizations and an outline of what they will present:

Davenport & Company is a Virginia-based financial services firm that provides services to more than 200 municipal clients in North Carolina, Virginia and Maryland. In addition to underwriting municipal bonds Davenport provides a wide variety of financial advisory services. Davenport’s engagement with the Town includes the following tasks that will also be the subject of their presentation:

Peer group comparatives and benchmarking
Debt profile analysis
Debt capacity and debt affordability analysis
Analysis of impact of future borrowings

Hill, Chesson & Woody, is headquartered in Chapel Hill and provides clients with consulting, strategies, and solutions for employee benefit management. HCW will be presenting the following topics:

Current State of Affairs and Trend from National Perspective
Renewal History with United and BCBSNC
Ways to Impact Healthcare Costs
Next Steps
OPEB Liability

North Carolina Interlocal Risk Management Agency is the worker’s compensation insurance pool organized by the NCLM in 1981. NCIRMA currently has 460 municipal participants and provides statutory workers’ compensation benefits with employer liability limits ranging from $100,000 to $2,000,000. NCIRMA’s presentation will include the following topics:

Origins of Salary Supplement/Salary Continuation
Cost Implications
Returning Employees to Work