MONTGOMERY – Houston County Commission Chairman Mark Culver is one of six local government officials tapped to provide investment advice regarding the County and Municipal Government Capital Improvement Trust Fund.
The new investment advisory board was established by the constitutional amendment ratified by Alabama voters on Sept. 18 and was created to ensure local governments have direct input into the trust fund that provides funding for city and county construction projects. The fund was established when portions of the larger Alabama Trust Fund were reallocated to local governments after moneys were withdrawn from the ATF in 2000.
"This committee represents a significant shift in policy by providing a local voice in the investment of funds that benefit local governments," said Sonny Brasfield, executive director of the Association of County Commissions of Alabama, which made the appointment. "The annual income from the trust fund is vital part of funding capital projects throughout the state."
In addition to annual distribution from the county and municipal fund, the local governments also receive a portion of the annual interest from the larger ATF. The amendment approved in September made changes in the process used to determine the portion of the funds to be distributed each year.
"Counties can now budget for the annual revenue because the new process should provide for a stable and predictable annual allocation," Brasfield explained.
Culver has served more than 26 years as a member of the Houston County Commission and is in fifth term as chairman. He was elected president of the ACCA in 2000 and continues to serve as a member of its board of directors as well as its legislative committee.
The other county representatives on the advisory committee are Ricky Harcrow, president of the DeKalb County Commission, and Crenshaw County Commissioner Charlie Sankey.
The Association of County Commissions of Alabama is a statewide organization representing county government in Alabama. ACCA promotes improved county government services in Alabama, offers educational programs for county officials and their staff members, administers insurance programs for county governments and employees, offers legal advice, and represents the interests of county government before state and federal organizations and agencies. The activities of the Association are governed by a board of directors composed of three officers, past presidents and representatives elected from 12 Alabama districts.
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