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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />r13 UNN# <br />—O <br />d 1 al JUNE 16 2014 <br />• P.M. <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />Finance - Update of the Construction and Renovation Fund Budget and <br />Related Project Ordinance for RCCC Renovation Project <br />BRIEF SUMMARY: <br />Rowan - Cabarrus Community College (RCCC) will be renovating a <br />building in downtown Kannapolis to be used for their Cosmetology, CNA, <br />Paramedic and other programs. Cabarrus County will be making a <br />$1,500,000 contribution to this project. Funds are being allocated from <br />FY14 revenues coming in over budget in the following line items: Property <br />Tax Collections $881,945, Vehicle Tax Delinquent Collections $172,658, <br />Vehicle Tax Interest $4,987, and Medicaid Hold Harmless $440,410 for a <br />total of $1,500,000. <br />The $1,500,000 funds will be transferred from the General Fund to the <br />Construction and Renovation Fund for account tracking of this project <br />donation. <br />REQUESTED ACTION: <br />Motion to approve the revised Construction and Renovation Project <br />Ordinance and the related budget amendment. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Ann Wilson, Finance Director <br />BUDGET AMENDMENT REQUIRED: <br />F -3 Page 39 <br />