BC 2007 04 16 Regular - Laserfiche WebLink

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April 16, 2007 (Regular Meeting) Page 343 to oversight. This transfer was approved by the Tourism Authority Board on October 12, 2006. Payment was made in January 2007. Present Account No. Approved Budget Increase Decrease Revised Budget 53193110-9101 $276,830.00 $10,000.00 $286,830.00 Salaries and Wages 53163110-6901 $997,872.00 $10,000.00 $507,872.00 Fund Balance Appropriated (G-8) Budget Amendment - Reduction in Lottery Proceeds Budgeted for School Construction - ($888,652) Pam Dubois, Deputy County Manager, presented a budget amendment to cover a projected shortfall in N.C. Lottery proceeds. of approximately $888,652.00 with interest earnings generated on General Obligation Bonds. She also reported on how the funds were budgeted on State projections, the projected shortfall, how the lottery funds are disbursed, what they can be used for and the recent failure of House Bill 9. Vice Chairman Juba MOVED to adopt the following budget amendment: BUDGET REVISION/AMENDMENT REQUEST DEPARTMENT OF $98 MILLION SCHOOL BOND FUND AMOUNT: $888,652:00 TYPE OF ADJUSTMENT: SUPPLEMENTAL REQUEST PURPOSE OF REQUEST: North Carolina Lottery sales are below previous state projections. Therefore, the state has been allocating less money towards school construction. $9,181,192 was budgeted by Cabarrus County for Lottery proceeds for F/Y2007. It is estimated that the total lottery funds that will be received by Cabarrus County will be $3,292,540. This leaves a $888,652 shortfall. This budget revision reduces the amount of anticipated Lottery Proceeds and funds the shortfall with unbudgeted Interest earnings on the General Obligation Bonds issued. Present Account No. Approved Budget Increase 36360000-6910 $4,181,192.00 Contribution from Capital Projects Fund 3636000-6702 $2,199,750.00 $888,652.00 Interest on Investments 32067210-6999 $9,181,192.00 Lottery Proceeds 32097210-9708 $4,181,192.00 Contribution to Capital Projects Fund Decrease Revised Budget $888,652.00 $3,292,590.00 $3,033,902.00 $888,652.00 $3,292,590.00 $888,652.00 $3,292,590.00 Commissioner White seconded the MOTION and commented on legislation introduced by Governor Easley to reduce lottery revenue for schools to 60 percent. Commissioner Privette stated lotteries never reach their potential. The MOTION unanimously carried. (G-9) Discussion of Recommendations from the Planning and Zoning Board Susie Zakraisek, Planning and Zoning Manager, reported the Planning and Zoning Commission was asked to make a recommendation on the following two issues: (1) a refund policy for planning and zoning ce,ses; and (2) the noticing requirements for rezonings of 50 or more parcels. She reviewed the following recommendations from the Planning and Zoning Commission: (1) refunds should not be issued for planning and zoning cases that have been noticed properly and that have been processed or are being processed by staff; any refund requests received would be heard and decided by the Planning and Zoning Commission; and (2) additional noticing for mass rezonings is not necessary. Commissioner Mynatt stated she agrees with the refund policy but would like for each affected property owner to receive a letter by O.S. Mail for mass rezonings. Vice Chairman Juba concurred. Ms. Zakraisek responded to several questions from the Board and there was a brief discussion on costs associated with the letters.