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CABARRUS COUNTY <br />* <br />REGULAR <br />1 <br />�A CA1Lp 1�1�I <br />N OVEMBER <br />• P .M. <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />Finance - Update of the Construction and Renovation Fund Budget, <br />Project Ordinance and Related Budget Amendment - Tabled from October <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 FY15 lease <br />payments are $80,000. In addition, revenue ($57,035.50) was received <br />from Mastec and Sprint for their cost share in the repairs at the Mt. <br />Pleasant communications tower site. Also received from the repair work <br />was the sale of scrap metal ($1,222). These amounts total $138,257.50 <br />and are purposed for the purchase and replacement of public safety <br />communications equipment. <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 Construction and Renovation Project <br />Ordinance and the related budget amendment. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Susan Fearrington, Finance Director <br />F -2 Page 33 <br />