---
date: 2020-09-15
title: Budget Retreat- Day 1 Agenda Packet
source: 2020-09/2020-09-15_Budget Retreat- Day 1_Agenda Packet.pdf
pages: 1
---

STOCKBRIDGE CITY COUNCIL Council Meeting
Mayor
Agenda
Anthony Ford Description: Amendment No.3 to Legal Services Contract for
Breazeale, Sacshe, and Wilson, LLC in the amount of $200,000 for a
total not to exceed amount of $875,000 (Finance Committee
Recommendation)
Mayor Pro Tem Alphonso Thomas
ATTACHMENTS:
Councilwoman LaKeisha Gantt 1. Amendment No. 3 to Legal Amendment No. 3 to Legal
Services Contract for Services Contract for
Councilman Elton Alexander Breazeale, Sachse, and Breazeale, Sachse, and Wilson,
Wilson, LLC LLC.pdf
Councilwoman Yolanda Barber
Councilman John Blount

CITY MANAGER
Randy Knighton

CITY CLERK
Vanessa Holiday

DEPUTY CLERK
Randi Rainey

CITY ATTORNEY
Michael Williams
Page | 2

Stockbridge City Hall

4640 N. Henry Blvd.

Stockbridge, GA 30281

Website: www.cityofstockbridge.com

Phone: 770­389­7900

Fax: 770­389­7912

September 15, 2020 9:00 AM4640 N. Henry Stockbridge, GA 30281 Phone: (770) 389­7900
AGENDA
COUNCIL MEETING
CITY OF STOCKBRIDGE
TUESDAY, SEPTEMBER 15, 2020 9:00 AM

Mayor & City Council Administration
Mayor Anthony S. Ford Randy Knighton, City Manager
Mayor Pro Tem Alphonso Thomas Camilla Moore, Asst. City
Mgr./Community Dev. Director
Councilwoman LaKeisha Gantt Vanessa Holiday, City Clerk
Councilman Elton Alexander Michael Williams, City Attorney
Councilwoman Yolanda Barber Randi Rainey, Deputy City Clerk
Councilman John Blount

CALL TO ORDER

INVOCATION

ROLL CALL

ADOPTION OF THE AGENDA

DAY ONE FACILITATED BY RANDY KNIGHTON, CITY MANAGER

9:00 a.m.­ 9:30 a.m Welcome, FY2021 Proposed Budget Outline

9:30 a.m ­ 10:00 a.m FY2019 Audit Review­ Hope Pendergrass­ Mauldin &
Jenkins
1 FY2019 Audit

10:00 a.m. ­ 11:30 a.m Bond Counsel­ Doug Selby of Hunton, Andrews, Kurth &
Financial Advisor­ Edmund Wall of Piper Jaffray
2 Bond Counsel­ Financial Advisor

BREAK
Page | 4

11:30 a.m.­ 1:00 p.m SPLOST V & TSPLOST Project Funding & Citizens
Committee
3 SPLOT and TSPLOST Projects

1:30 p.m.­ 2:00 p.m. Employer/Employee Healthcare Cost
4 Benefits Renewal

EXECUTIVE SESSION (Exemptions to the Georgia Open Meetings Acts)

DAY ONE RECAP & ADJOURNMENT

September 15, 2020 9:00 AM4640 N. Henry Stockbridge, GA 30281 Phone: (770) 389­7900
City of Stockbridge Budget Retreat
Presentation of the Annual Audit Fiscal year ended December 31, 2019

Hope Pendergrass, CPA
Hope Pendergrass, CPA
o Partner in the Mauldin & Jenkins Macon Office
o Joined the Firm in 2003
o Engagement Team Member since 2011
o 100% Governmental

hpendergrass@mjcpa.com

800.277.0050
Topics for
Today o Overall results - unmodified opinions
o General summary of the financial results
for the year and ending financial position
o Recommendations
o New standards
o Questions?
Government-wide Results

Assets and deferred Liabilities and Net position (equity)
outﬂows of deferred inﬂows of of $91,890,000
$110,347,000 $18,457,000

Net position includes Restricted net Unrestricted net
net investment in Change in net
position of position of
capital assets of position of
$16,773,000 $24,430,000
$50,687,000 $4,766,000
General Fund Revenues
General Fund Expenditures
General Fund - Historical Trends -
Revenues vs. Expenditures
General Fund - Historical Trends -
Changes in Fund Balance
General Fund - Historical Trends -
Fund Balance
The following is the relative percentage of
General Fund – fund balance as compared to annual
expenditures for each of the past five (5)

Historical Trends – fiscal years:

Fund Balance
2015 = 191%
2016 = 193%
2017 = 245%
vs. Expenditures 2018 = 175%
2019 = 174%

Remember that fund balance does not
equal cash and investments
General Fund – Budget vs. Actual
o Revenues exceeded budget by $1,020,000 ($10,563,000 budgeted vs.
$11,583,000 actual)
o General government (M&C, Finance, Administration, Data Processing,
Building and Plant and De-annexation) expenditures were $4,559,000
versus budget of $4,328,000 - variance of ($231,000)
o Total expenditures (before transfers) were $8,821,000 versus budget of
$9,274,000 – variance of $453,000
o Net other financing uses of $2,259,000 versus budget of $1,449,000 –
variance of ($810,000)
o Total variance from budget of $663,000
SPLOST III and IV Funds
SPLOST IV – SPLOST IV – SPLOST III – SPLOST III –
assets of $14,775,000 revenues of assets of $1,498,000 revenues of $324,
(including cash and $3,233,000, (all cash); liabilities of expenditures of
investments of expenditures of $12,000, resulting in $1,026,516, resulting
$14,357,000); $1,975,000, resulting fund balance of in a net loss of
liabilities of in net income of $1,486,000 $1,026,192
$449,000, resulting $1,258,000
in fund balance
(restricted) of
$14,326,000
Business-Type Activities
o Increase in assets and deferred outflows from $29,879,000 to $32,314,000
(8.1%) – attributed to an increase in capital assets.
o Increase in liabilities and deferred inflows from $3,718,000 to $3,945,000 –
attributed to an increase in retainage payable.
o Net position increased from $26,161,000 to $28,369,000; however only
$6,117,000 is unrestricted
o Increase in operating revenues from $5,976,000 to $6,088,000 (1.9%)
o Increase in operating expenditures from $6,074,000 to $6,311,000 (3.9%)
o Capital contributions in W&S Fund (from SPLOST) of $2,139,000
o Positive cash flows from operations of $1,020,000
Findings – Financial Reporting

o 2019-001 – Accounts receivable – Grants
o 2019-002 – Accounts payable – Grants
o 2019-003 – Capital Assets – Construction in Progress
Management Points/Recommendations

o Pension census data
o Retainage payable
o BTA – capital assets – reconcile balances by
asset class
o Cybersecurity Framework
GASB 84, Fiduciary Activities
GASB 87, Leases
Thank You
City of Stockbridge Budget Retreat
Presentation of the Annual Audit Fiscal year
ended December 31, 2019
Sep 8, 2020 10:53 am Prepared by Piper Sandler & Co. (Finance 8.500 Stockbridge, Georgia:20200908-MARKET) Page 1

SOURCES AND USES OF FUNDS

City of Stockbridge, Georgia
Public Facilities Authority (Amphitheatre Project) Taxable
Current Market as of September 8, 2020
Taxable
5-Year Call
15-Year Level Debt Service
**For Discussion Purposes Only**

Sources:

Bond Proceeds:
Par Amount 4,635,000.00

Other Sources of Funds:
General Fund Contribution 5,000,000.00
SPLOST IV Construction Fund 6,300,000.00
11,300,000.00

15,935,000.00

Uses:

Project Fund Deposits:
Amphitheatre Project 15,805,912.50

Delivery Date Expenses:
Cost of Issuance 129,087.50

15,935,000.00
Sep 8, 2020 10:53 am Prepared by Piper Sandler & Co. (Finance 8.500 Stockbridge, Georgia:20200908-MARKET) Page 2

BOND SUMMARY STATISTICS

City of Stockbridge, Georgia
Public Facilities Authority (Amphitheatre Project) Taxable
Current Market as of September 8, 2020
Taxable
5-Year Call
15-Year Level Debt Service
**For Discussion Purposes Only**

Dated Date 11/03/2020
Delivery Date 11/03/2020
Last Maturity 11/01/2035

Arbitrage Yield 2.200009%
True Interest Cost (TIC) 2.200009%
Net Interest Cost (NIC) 2.200000%
All-In TIC 2.580476%
Average Coupon 2.200000%

Average Life (years) 8.404
Weighted Average Maturity (years) 8.404

Par Amount 4,635,000.00
Bond Proceeds 4,635,000.00
Total Interest 856,993.50
Net Interest 856,993.50
Total Debt Service 5,491,993.50
Maximum Annual Debt Service 368,210.00
Average Annual Debt Service 366,268.56

Underwriter's Fees (per $1000)
Average Takedown
Other Fee

Total Underwriter's Discount

Bid Price 100.000000

Par Average Average PV of 1 bp
Bond Component Value Price Coupon Life change

Term Bond due 2035 4,635,000.00 100.000 2.200% 8.404 5,886.45

4,635,000.00 8.404 5,886.45

All-In Arbitrage
TIC TIC Yield

Par Value 4,635,000.00 4,635,000.00 4,635,000.00
+ Accrued Interest
+ Premium (Discount)
- Underwriter's Discount
- Cost of Issuance Expense (129,087.50)
- Other Amounts

Target Value 4,635,000.00 4,505,912.50 4,635,000.00

Target Date 11/03/2020 11/03/2020 11/03/2020
Yield 2.200009% 2.580476% 2.200009%
Sep 8, 2020 10:53 am Prepared by Piper Sandler & Co. (Finance 8.500 Stockbridge, Georgia:20200908-MARKET) Page 3

BOND PRICING

City of Stockbridge, Georgia
Public Facilities Authority (Amphitheatre Project) Taxable
Current Market as of September 8, 2020
Taxable
5-Year Call
15-Year Level Debt Service
**For Discussion Purposes Only**

Maturity
Bond Component Date Amount Rate Yield Price

Term Bond due 2035:
11/01/2021 265,000 2.200% 2.200% 100.000
11/01/2022 270,000 2.200% 2.200% 100.000
11/01/2023 275,000 2.200% 2.200% 100.000
11/01/2024 280,000 2.200% 2.200% 100.000
11/01/2025 290,000 2.200% 2.200% 100.000
11/01/2026 295,000 2.200% 2.200% 100.000
11/01/2027 300,000 2.200% 2.200% 100.000
11/01/2028 305,000 2.200% 2.200% 100.000
11/01/2029 315,000 2.200% 2.200% 100.000
11/01/2030 320,000 2.200% 2.200% 100.000
11/01/2031 330,000 2.200% 2.200% 100.000
11/01/2032 335,000 2.200% 2.200% 100.000
11/01/2033 345,000 2.200% 2.200% 100.000
11/01/2034 350,000 2.200% 2.200% 100.000
11/01/2035 360,000 2.200% 2.200% 100.000

4,635,000

Dated Date 11/03/2020
Delivery Date 11/03/2020
First Coupon 05/01/2021

Par Amount 4,635,000.00
Original Issue Discount

Production 4,635,000.00 100.000000%
Underwriter's Discount

Purchase Price 4,635,000.00 100.000000%
Accrued Interest

Net Proceeds 4,635,000.00
Sep 8, 2020 10:53 am Prepared by Piper Sandler & Co. (Finance 8.500 Stockbridge, Georgia:20200908-MARKET) Page 4

BOND DEBT SERVICE

City of Stockbridge, Georgia
Public Facilities Authority (Amphitheatre Project) Taxable
Current Market as of September 8, 2020
Taxable
5-Year Call
15-Year Level Debt Service
**For Discussion Purposes Only**

Dated Date 11/03/2020
Delivery Date 11/03/2020

Period
Ending Principal Coupon Interest Debt Service

12/31/2021 265,000 2.200% 101,403.50 366,403.50
12/31/2022 270,000 2.200% 96,140.00 366,140.00
12/31/2023 275,000 2.200% 90,200.00 365,200.00
12/31/2024 280,000 2.200% 84,150.00 364,150.00
12/31/2025 290,000 2.200% 77,990.00 367,990.00
12/31/2026 295,000 2.200% 71,610.00 366,610.00
12/31/2027 300,000 2.200% 65,120.00 365,120.00
12/31/2028 305,000 2.200% 58,520.00 363,520.00
12/31/2029 315,000 2.200% 51,810.00 366,810.00
12/31/2030 320,000 2.200% 44,880.00 364,880.00
12/31/2031 330,000 2.200% 37,840.00 367,840.00
12/31/2032 335,000 2.200% 30,580.00 365,580.00
12/31/2033 345,000 2.200% 23,210.00 368,210.00
12/31/2034 350,000 2.200% 15,620.00 365,620.00
12/31/2035 360,000 2.200% 7,920.00 367,920.00

4,635,000 856,993.50 5,491,993.50
Sep 8, 2020 10:53 am Prepared by Piper Sandler & Co. (Finance 8.500 Stockbridge, Georgia:20200908-MARKET) Page 5

BOND DEBT SERVICE

City of Stockbridge, Georgia
Public Facilities Authority (Amphitheatre Project) Taxable
Current Market as of September 8, 2020
Taxable
5-Year Call
15-Year Level Debt Service
**For Discussion Purposes Only**

Dated Date 11/03/2020
Delivery Date 11/03/2020

Period Annual
Ending Principal Coupon Interest Debt Service Debt Service

05/01/2021 50,418.50 50,418.50
11/01/2021 265,000 2.200% 50,985.00 315,985.00
12/31/2021 366,403.50
05/01/2022 48,070.00 48,070.00
11/01/2022 270,000 2.200% 48,070.00 318,070.00
12/31/2022 366,140.00
05/01/2023 45,100.00 45,100.00
11/01/2023 275,000 2.200% 45,100.00 320,100.00
12/31/2023 365,200.00
05/01/2024 42,075.00 42,075.00
11/01/2024 280,000 2.200% 42,075.00 322,075.00
12/31/2024 364,150.00
05/01/2025 38,995.00 38,995.00
11/01/2025 290,000 2.200% 38,995.00 328,995.00
12/31/2025 367,990.00
05/01/2026 35,805.00 35,805.00
11/01/2026 295,000 2.200% 35,805.00 330,805.00
12/31/2026 366,610.00
05/01/2027 32,560.00 32,560.00
11/01/2027 300,000 2.200% 32,560.00 332,560.00
12/31/2027 365,120.00
05/01/2028 29,260.00 29,260.00
11/01/2028 305,000 2.200% 29,260.00 334,260.00
12/31/2028 363,520.00
05/01/2029 25,905.00 25,905.00
11/01/2029 315,000 2.200% 25,905.00 340,905.00
12/31/2029 366,810.00
05/01/2030 22,440.00 22,440.00
11/01/2030 320,000 2.200% 22,440.00 342,440.00
12/31/2030 364,880.00
05/01/2031 18,920.00 18,920.00
11/01/2031 330,000 2.200% 18,920.00 348,920.00
12/31/2031 367,840.00
05/01/2032 15,290.00 15,290.00
11/01/2032 335,000 2.200% 15,290.00 350,290.00
12/31/2032 365,580.00
05/01/2033 11,605.00 11,605.00
11/01/2033 345,000 2.200% 11,605.00 356,605.00
12/31/2033 368,210.00
05/01/2034 7,810.00 7,810.00
11/01/2034 350,000 2.200% 7,810.00 357,810.00
12/31/2034 365,620.00
05/01/2035 3,960.00 3,960.00
11/01/2035 360,000 2.200% 3,960.00 363,960.00
12/31/2035 367,920.00

4,635,000 856,993.50 5,491,993.50 5,491,993.50
Sep 8, 2020 10:53 am Prepared by Piper Sandler & Co. (Finance 8.500 Stockbridge, Georgia:20200908-MARKET) Page 6

COST OF ISSUANCE

City of Stockbridge, Georgia
Public Facilities Authority (Amphitheatre Project) Taxable
Current Market as of September 8, 2020
Taxable
5-Year Call
15-Year Level Debt Service
**For Discussion Purposes Only**

Cost of Issuance $/1000 Amount

Bond Counsel 9.70874 45,000.00
City Counsel 2.50000 11,587.50
Public Facilities Authority Counsel 3.77562 17,500.00
Municipal Advisor 10.00000 46,350.00
Purchaser Counsel 1.61812 7,500.00
Validation and Court Costs 0.24811 1,150.00

27.85059 129,087.50
COVID-19
Market
Shock

3.04

2.11

10 Yr MMD 10 Yr MMD - Average 0.83

1/1/2010 1/1/2011 1/1/2012 1/1/2013 1/1/2014 1/1/2015 1/1/2016 1/1/2017 1/1/2018 1/1/2019 1/1/2020

MMD data as of 9/4/2020.
PIPER SANDLER | 1
Sep 8, 2020 10:55 am Prepared by Piper Sandler & Co. (Finance 8.500 Stockbridge, Georgia:20200908-2020_TE) Page 1

SOURCES AND USES OF FUNDS

City of Stockbridge, Georgia
Public Facilities Authority (Cultural Center, Trails, Senior/Youth Center) Series 2020
Current Market as of September 8, 2020
Tax-Exempt/Non Bank Qualified
5-Year Call
15-Year Level Debt Service
**For Discussion Purposes Only**

Sources:

Bond Proceeds:
Par Amount 15,385,000.00

15,385,000.00

Uses:

Project Fund Deposits:
Project Fund 15,000,000.00

Delivery Date Expenses:
Cost of Issuance 384,625.00

Other Uses of Funds:
Additional Proceeds 375.00

15,385,000.00
Sep 8, 2020 10:55 am Prepared by Piper Sandler & Co. (Finance 8.500 Stockbridge, Georgia:20200908-2020_TE) Page 2

BOND SUMMARY STATISTICS

City of Stockbridge, Georgia
Public Facilities Authority (Cultural Center, Trails, Senior/Youth Center) Series 2020
Current Market as of September 8, 2020
Tax-Exempt/Non Bank Qualified
5-Year Call
15-Year Level Debt Service
**For Discussion Purposes Only**

Dated Date 11/03/2020
Delivery Date 11/03/2020
Last Maturity 11/01/2035

Arbitrage Yield 1.800006%
True Interest Cost (TIC) 1.800006%
Net Interest Cost (NIC) 1.800000%
All-In TIC 2.136509%
Average Coupon 1.800000%

Average Life (years) 8.331
Weighted Average Maturity (years) 8.331

Par Amount 15,385,000.00
Bond Proceeds 15,385,000.00
Total Interest 2,307,141.50
Net Interest 2,307,141.50
Total Debt Service 17,692,141.50
Maximum Annual Debt Service 1,181,560.00
Average Annual Debt Service 1,179,913.10

Underwriter's Fees (per $1000)
Average Takedown
Other Fee

Total Underwriter's Discount

Bid Price 100.000000

Par Average Average PV of 1 bp
Bond Component Value Price Coupon Life change

Term Bond due 2035 15,385,000.00 100.000 1.800% 8.331 20,000.50

15,385,000.00 8.331 20,000.50

All-In Arbitrage
TIC TIC Yield

Par Value 15,385,000.00 15,385,000.00 15,385,000.00
+ Accrued Interest
+ Premium (Discount)
- Underwriter's Discount
- Cost of Issuance Expense (384,625.00)
- Other Amounts

Target Value 15,385,000.00 15,000,375.00 15,385,000.00

Target Date 11/03/2020 11/03/2020 11/03/2020
Yield 1.800006% 2.136509% 1.800006%
Sep 8, 2020 10:55 am Prepared by Piper Sandler & Co. (Finance 8.500 Stockbridge, Georgia:20200908-2020_TE) Page 3

BOND PRICING

City of Stockbridge, Georgia
Public Facilities Authority (Cultural Center, Trails, Senior/Youth Center) Series 2020
Current Market as of September 8, 2020
Tax-Exempt/Non Bank Qualified
5-Year Call
15-Year Level Debt Service
**For Discussion Purposes Only**

Maturity
Bond Component Date Amount Rate Yield Price

Term Bond due 2035:
11/01/2021 900,000 1.800% 1.800% 100.000
11/01/2022 920,000 1.800% 1.800% 100.000
11/01/2023 935,000 1.800% 1.800% 100.000
11/01/2024 950,000 1.800% 1.800% 100.000
11/01/2025 970,000 1.800% 1.800% 100.000
11/01/2026 985,000 1.800% 1.800% 100.000
11/01/2027 1,005,000 1.800% 1.800% 100.000
11/01/2028 1,020,000 1.800% 1.800% 100.000
11/01/2029 1,040,000 1.800% 1.800% 100.000
11/01/2030 1,060,000 1.800% 1.800% 100.000
11/01/2031 1,080,000 1.800% 1.800% 100.000
11/01/2032 1,100,000 1.800% 1.800% 100.000
11/01/2033 1,120,000 1.800% 1.800% 100.000
11/01/2034 1,140,000 1.800% 1.800% 100.000
11/01/2035 1,160,000 1.800% 1.800% 100.000

15,385,000

Dated Date 11/03/2020
Delivery Date 11/03/2020
First Coupon 05/01/2021

Par Amount 15,385,000.00
Original Issue Discount

Production 15,385,000.00 100.000000%
Underwriter's Discount

Purchase Price 15,385,000.00 100.000000%
Accrued Interest

Net Proceeds 15,385,000.00
Sep 8, 2020 10:55 am Prepared by Piper Sandler & Co. (Finance 8.500 Stockbridge, Georgia:20200908-2020_TE) Page 4

BOND DEBT SERVICE

City of Stockbridge, Georgia
Public Facilities Authority (Cultural Center, Trails, Senior/Youth Center) Series 2020
Current Market as of September 8, 2020
Tax-Exempt/Non Bank Qualified
5-Year Call
15-Year Level Debt Service
**For Discussion Purposes Only**

Dated Date 11/03/2020
Delivery Date 11/03/2020

Period
Ending Principal Coupon Interest Debt Service

11/01/2021 900,000 1.800% 275,391.50 1,175,391.50
11/01/2022 920,000 1.800% 260,730.00 1,180,730.00
11/01/2023 935,000 1.800% 244,170.00 1,179,170.00
11/01/2024 950,000 1.800% 227,340.00 1,177,340.00
11/01/2025 970,000 1.800% 210,240.00 1,180,240.00
11/01/2026 985,000 1.800% 192,780.00 1,177,780.00
11/01/2027 1,005,000 1.800% 175,050.00 1,180,050.00
11/01/2028 1,020,000 1.800% 156,960.00 1,176,960.00
11/01/2029 1,040,000 1.800% 138,600.00 1,178,600.00
11/01/2030 1,060,000 1.800% 119,880.00 1,179,880.00
11/01/2031 1,080,000 1.800% 100,800.00 1,180,800.00
11/01/2032 1,100,000 1.800% 81,360.00 1,181,360.00
11/01/2033 1,120,000 1.800% 61,560.00 1,181,560.00
11/01/2034 1,140,000 1.800% 41,400.00 1,181,400.00
11/01/2035 1,160,000 1.800% 20,880.00 1,180,880.00

15,385,000 2,307,141.50 17,692,141.50
Sep 8, 2020 10:55 am Prepared by Piper Sandler & Co. (Finance 8.500 Stockbridge, Georgia:20200908-2020_TE) Page 5

BOND DEBT SERVICE

City of Stockbridge, Georgia
Public Facilities Authority (Cultural Center, Trails, Senior/Youth Center) Series 2020
Current Market as of September 8, 2020
Tax-Exempt/Non Bank Qualified
5-Year Call
15-Year Level Debt Service
**For Discussion Purposes Only**

Dated Date 11/03/2020
Delivery Date 11/03/2020

Period Annual
Ending Principal Coupon Interest Debt Service Debt Service

05/01/2021 136,926.50 136,926.50
11/01/2021 900,000 1.800% 138,465.00 1,038,465.00 1,175,391.50
05/01/2022 130,365.00 130,365.00
11/01/2022 920,000 1.800% 130,365.00 1,050,365.00 1,180,730.00
05/01/2023 122,085.00 122,085.00
11/01/2023 935,000 1.800% 122,085.00 1,057,085.00 1,179,170.00
05/01/2024 113,670.00 113,670.00
11/01/2024 950,000 1.800% 113,670.00 1,063,670.00 1,177,340.00
05/01/2025 105,120.00 105,120.00
11/01/2025 970,000 1.800% 105,120.00 1,075,120.00 1,180,240.00
05/01/2026 96,390.00 96,390.00
11/01/2026 985,000 1.800% 96,390.00 1,081,390.00 1,177,780.00
05/01/2027 87,525.00 87,525.00
11/01/2027 1,005,000 1.800% 87,525.00 1,092,525.00 1,180,050.00
05/01/2028 78,480.00 78,480.00
11/01/2028 1,020,000 1.800% 78,480.00 1,098,480.00 1,176,960.00
05/01/2029 69,300.00 69,300.00
11/01/2029 1,040,000 1.800% 69,300.00 1,109,300.00 1,178,600.00
05/01/2030 59,940.00 59,940.00
11/01/2030 1,060,000 1.800% 59,940.00 1,119,940.00 1,179,880.00
05/01/2031 50,400.00 50,400.00
11/01/2031 1,080,000 1.800% 50,400.00 1,130,400.00 1,180,800.00
05/01/2032 40,680.00 40,680.00
11/01/2032 1,100,000 1.800% 40,680.00 1,140,680.00 1,181,360.00
05/01/2033 30,780.00 30,780.00
11/01/2033 1,120,000 1.800% 30,780.00 1,150,780.00 1,181,560.00
05/01/2034 20,700.00 20,700.00
11/01/2034 1,140,000 1.800% 20,700.00 1,160,700.00 1,181,400.00
05/01/2035 10,440.00 10,440.00
11/01/2035 1,160,000 1.800% 10,440.00 1,170,440.00 1,180,880.00

15,385,000 2,307,141.50 17,692,141.50 17,692,141.50
City of
Stockbridge

Civic Projects - (Culture Arts Center, Senior/Youth
Center, City Hall Annex) – 48%

Road Projects (Sidewalks, Roads, Trails) - 23%

City of
Stockbridge Sewer/Water/Stormwater Infrastructure - 23%
Proposed

Park Improvements - 6%

Total – 100%
Stockbridge Final SPLOST V Projections

Sewer/Water
Civic Projects - Road Projects- Stormwater
$9,852,437 $4,720,959 Infrastructure
Projects - $4,720,959

Park Improvements -
$1,231,554
PROJECT COST
CITY OF STOCKBRIDGE TSPLOST PROJECTS

Wilson Avenue, Nolan Street, Childs Street, Wilson Street, Walker Street, $4,500,000

Welch Street, Jennings Way, Second Street, First Street, Tye Street, Church
Street and Carrie Mae Lane (Curb and gutter, sidewalks and widening)
Davidson Parkway (Resurfacing and Sidewalks) $3,600,000
Old Atlanta Road (Resurfacing and Sidewalks) $2,500,000

CITY OF
Tye Street (Sidewalks) $2,200,000

Davis Road (Curb and Gutter and Sidewalks from Shields Road to Clark Park) $4,350,000

Reeves Creek Trail Extension - 2 Mile
Brush Creek 1.5 Mile
MLK Sr. Heritage Trail, Spur Trail to Floyd Chapel Baptist Church - .25 mile
$2,800,000
$2,400,000
$425,000
STOCKBRIDGE
MLK Sr. Heritage Trail, Green Front Café - .25 mile
Continuation of MLK Sr. Heritage Trail - .75 mile
Potential Trailhead Location with Reeves Creek Trail Link at MLK Sr. Heritage
$355,000
$625,000
$500,000
DRAFT
Trail
Country Club Drive (traffic and safety improvements)
Burke Street Sidewalks/Pedestrian Improvements
$1,000,000
$500,000
TSPLOST
Love Street Sidewalks/Pedestrian Improvements
Walt Stephens Road trail, 1.75 miles
$500,000
$3,000,000 PROJECTS

Total $29,255,000
City of Stockbridge/Cigna Renewal

City of Stockbridge/ Cigna Renewal

Based upon the Cigna representative the estimate for

renewal is a 14-15% increase. Cigna is willing to issue

a non-marketing renewal and the representative

believes we can get that down to a 10% increase
Claims have run better this

City of Stockbridge/ year than last at an 83% loss
Benefits Renewal
ratio (most recent reported

months July 19 – June 20).
City of Stockbridge/
Benefits Renewal

The current carrier could be willing to issue a non-marketing renewal and thinks we can get that

down to a 10% increase (meaning we do not request quotes from alternative carriers). They would

also give us options on how to get it down to a single digit. Carriers are willing to issue a non-

marketing renewal because they know that another carrier may come in and (i.e. attempt to buy

the business) which may result in the current carrier having to come down lower on their increase

than they feel is needed. If they lower the rates below where they feel it needs to be then it hurts

next year’s loss ratio which would cause for a larger increase.
City of Stockbridge/Benefits Renewal

If we tell them no that we have to go to market then the

renewal released will be in the 14-15% increase range as

anticipated. We would then have to rely on a carrier giving us a

competitive number. Cigna may or may not lower the rate.
There also looks to be a surplus on the fees paid to Cigna under the

level funded arrangement. They anticipate a refund in April 2021 of

approximately $21K (only refunded if the City renews). If you factor
City of that into the 10% increase we free we can get them down to then
Stockbridge/ the City’s overall next increase would be roughly 8.75% (assuming
Benefits employee deductions go up 10%).
Renewal
