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CABARRUS COUNTY <br />A <br />* <br />REGULAR MEETING <br />MARCH 21, 2016 <br />i �'y�J,rJJl� ll <br />1 <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />Finance - Construction and Renovation Fund Budget Update - Project <br />Ordinance and Related Budget Amendment <br />BRIEF SUMMARY: <br />Since the Construction and Renovation Fund is a multi -year fund and is <br />not included with the annual budget process, a yearly review is completed <br />to estimate the revenues that will be received in the fund for <br />communication tower lease payments. Estimates of the FY16 lease <br />payments are $80,000. <br />Through a budget amendment and revised Construction and Renovation <br />Project Ordinance this agenda item recognizes the new estimated <br />revenues and corresponding available equipment expenditures. <br />REQUESTED ACTION: <br />Motion to approve the revised Constructions and Renovation Project <br />Ordinance and the related budget amendment. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Susan Fearrington, Finance Director <br />BUDGET AMENDMENT REQUIRED: <br />Yes <br />F -3 Page 53 <br />