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CABARRUS COUNTY <br />BOARD OF • • <br />* <br />REGULAR <br />¢ TN eAR° �jr SEPTEMBER 1 <br />� / <br />1 P .M. <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />Finance - Request for Additional Cash Funds to Continue Progress on Three <br />School Construction Projects <br />BRIEF SUMMARY: <br />As we continue to move toward the financing of three school construction <br />projects, (Mount Pleasant Middle, Royal Oaks, and Kannapolis Middle <br />School), additional cash funds are needed for Land, Architect, Engineering, <br />Administrative Costs, Abatements, and Contingency. All funds requested <br />total $3,843,269 of which $952,850 would be transferred to the actual <br />construction funds and $ 2,890,419 would be held in the capital reserve fund <br />until requested by either school district. Attached is a spreadsheet that <br />indicates the request of funds needed for each project. <br />REQUESTED ACTION: <br />Motion to approve the budget amendments and the appropriate Capital <br />Projects /Capital Reserve Fund Ordinances. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Susan Fearrington, Finance Director <br />BUDGET AMENDMENT REQUIRED: <br />Yes <br />COUNTY MANAGER'S RECOMMENDATIONS /COMMENTS: <br />F -5 Page 81 <br />