Title
Vote to accept the transfer of all assets owned by the Chatham County Council on Aging, a 501c3 non-profit corporation.
Abstract
Introduction & Background: In the FY23 budget, the Board of Commissioners approved the transition of the Chatham County Council on Aging to a full county department, effective July 1, 2023. Employees of the Council on Aging were transitioned as a part of the FY23 budget. Over the course of the FY23, staff has worked to gain the approvals necessary and prepare the transfer of all assets, including all real and personal property assets, vehicles, and cash reserves.
Discussion & Analysis: To start, the Council on Aging required the approval of the North Carolina Attorney General’s office to transfer the assets. On May 10, 2023, the Council received the conditional non-objection letter from the Attorney General’s Office granting the transfer.
Assets include but are not limited to, the attached list of declared assets. This includes:
• Western Chatham Senior Center, building, property and contents
• Contents of the Eastern Chatham Senior Center and all outbuildings
• Vehicles
• Cash reserves
Cash reserves will be transferred via wire transfer in two parts, the first on or before June 30, 2023 and the second when the FY23 year-end closeout is complete and all outstanding invoices and obligations are met.
How does this relate to the Comprehensive Plan:
Budgetary Impact:
Recommendation/Motion: Motion to accept the transfer of all assets owned by the Chatham County Council on Aging, a 501c3 non-profit corporation.