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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />* � REGULAR 4 <br />PricaR� jj'�� N OVEMBER 1 <br />1 P .M. <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />Finance - Contractual Incentive Payment for SMG (Cabarrus Arena) <br />BRIEF SUMMARY: <br />The contract between Cabarrus County and SMG, the operator of the Cabarrus Arena & Events <br />Center, includes annual incentive payments based on quantitative and qualitative measurements, as <br />well as food sales volumes. The attached documents details the calculations of the incentive <br />amounts. This document has been reviewed by Finance staff and is in keeping with the contract. A <br />budget amendment for the incentive payments is also included with this agenda item. <br />REQUESTED ACTION: <br />Motion to approve the incentive payments and adopt the associated budget amendment. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Jonathan Marshall, Deputy County Manager <br />Susan Fearrington, Finance Director <br />Suzanne Burgess, Assistant Finance Director <br />BUDGET AMENDMENT REQUIRED: <br />Yes <br />COUNTY MANAGER'S RECOMMENDATIONS /COMMENTS: <br />This item was approved by the Board for inclusion on the Agenda as a Consent item. <br />BUDGET AMENDMENT: <br />Cabarrus County Budget Amendment R equest <br />Date: F1 - 0/21/2015 <br />Amount: $117.806.00 <br />,I_Dept. Head: (S usan Fearrin IL De IFinance - Arena <br />Internal Transfer Within Department Transfer Between <br />epartments /Funds pSupplemental Request <br />urpose: This budget amendment is to appropriate fund balance from FY2015 for the payment of Arena <br />F -5 Page 132 <br />