During the Bradley County Commission voting session Monday afternoon, County Mayor D. Gary Davis awarded four county employees with certificates of appreciation and a lapel pin in recognition of 20 years of service with Bradley County. James Bradford, EMS, Sheila Brank, Circuit Court Clerk, Arthur White, Bradley County Sheriff’s Department and Jerry Rogers, Bradley County Sheriff’s Department all received the award. Mayor Davis said he will also be awarding 12 county employees with ten year certificates and pins.
Commissioner Adam Lowe made a motion to accept a resolution to establish the Health, Wellness and Quality of Life Fund award for 2012.
According to the final decree for distribution of the proceeds from the sale of Bradley Memorial Hospital, a minimum of 15% of all interest earned annually shall be reinvested in the principal so that the time value of money does not erode the principal over time.
On July 6, 2009, the County Commission adopted a resolution to establish a cutoff date for determining income on which to base HCI awards funding establishing that awards from the Health, Wellness and Quality of Life Fund be based on income generated during each calendar year.
The fund earned $188,932.02 in the 2011 calendar year and 15% of the interest or $28,339.80 will be reinvested in the principal according to the final decree, leaving $10,592.22 for grant awards.
There is a total of $35,000 in unused grant funds from 2009 and $5.169.85 in unused grant funds from 2010 that can be made available for grant awards in the current year.
The payments on the Cleveland/Bradley County Public Library are estimated to be $92,900 in fiscal year 2013. The 2012 award from the Health, Wellness and Quality of Life Fund will be $104,730.05 to include 85% of the 2011 interest and the unused grant funds from 2009 and 2010.
Commissioner Ed Elkins requested to delay action on the resolution until finance committee can review the numbers and recommend it to the full commission. Commissioner Lowe agreed to pull the resolution from the agenda. A vote will take place at a later date.
The Bradley County Commission will hold its next work session meeting on Nov. 26, at 7 p.m.