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November 4, 2013 (Work Session)
<br />Page
<br />IIntD! 5¢..6 -Pl Ft BWN E*MMVY Ana WILEVe t[" Won NW VIM* saga 5-per E"*Mmr1
<br />T07AL1. FOR ALL PMECT1 a 11,1N35ii 5 • M
<br />9 II U 4 8M518a 4 14AW 9 • 1 18,872 1 17;H4 1 H
<br />Mr. Witke and Kelly Kluttz, CCS Finance Director, responded to
<br />questions from the Board.
<br />Discussion Item for Action at NaveTber 18, 2013 Meeting
<br />C:cnmty Manager — OCS QSM — Use of Sales Tax Proceeds for Parking Iot Rgm-ir
<br />at Northwest High School Gynnasiun
<br />Len Witke, Cabarrus County Schools (CCS), presented the following
<br />information relating to the use of sales tax proceeds for parking lot repair
<br />at the Northwest High School Gymnasiu
<br />Cabarrus County has a practice of using the sales taxes from
<br />expenditures in the construction funds to pay down debt service
<br />at the end of the construction phase. With Qualified School
<br />Construction Bonds (QSCB) funds, all proceeds must be spent on
<br />defined projects, per bond counsel. Cabarrus County Schools (CCS)
<br />has approximately $83,917.00 in sales tax monies which they would
<br />like to apply towards repairing the parking lot at the
<br />construction site of the Northwest High School Gymnasium. The
<br />request has been reviewed by Steve Cordell, Cabarrus County bond
<br />counsel, and qualifies as an approved project. No budget revision
<br />will be necessary to accomplish this request.
<br />CCS may have approximately $23,000.00 in contingency funds
<br />available to be added to the $83,917.00 which totals $106,917.00.
<br />The bid for a portion of the surface area costs $77,000.00 and
<br />includes unit cost to add more square footage of repairing, if
<br />funds exist. This will allow the balance of $29,917.00, or a
<br />portion thereof, to be used to expand the repairs of the balance
<br />of the parking lot.
<br />A discussion ensued. During discussion, Mr. Witke responded to
<br />questions from the Board. A miscalculation was noted in the above
<br />information and should be shown as:
<br />CCS may have approximately $25,122.00 in contingency funds
<br />available to be added to the $83,917.00 which totals $109,039.00.
<br />The bid for a portion of the surface area costs $77,000.00 and
<br />includes unit cost to add more square footage of repairing, if
<br />funds exist. This will allow the balance of $32,039.00, or a
<br />portion thereof, to be used to expand the repairs of the balance
<br />of the parking lot.
<br />CCS — FUnding Request for Central Caba=us High School Artificial Turf
<br />Proi
<br />Kelly Kluttz, CCS Finance Director introduced the item, presenting the
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<br />IIntD! 5¢..6 -Pl Ft BWN E*MMVY Ana WILEVe t[" Won NW VIM* saga 5-per E"*Mmr1
<br />T07AL1. FOR ALL PMECT1 a 11,1N35ii 5 • M
<br />9 II U 4 8M518a 4 14AW 9 • 1 18,872 1 17;H4 1 H
<br />Mr. Witke and Kelly Kluttz, CCS Finance Director, responded to
<br />questions from the Board.
<br />Discussion Item for Action at NaveTber 18, 2013 Meeting
<br />C:cnmty Manager — OCS QSM — Use of Sales Tax Proceeds for Parking Iot Rgm-ir
<br />at Northwest High School Gynnasiun
<br />Len Witke, Cabarrus County Schools (CCS), presented the following
<br />information relating to the use of sales tax proceeds for parking lot repair
<br />at the Northwest High School Gymnasiu
<br />Cabarrus County has a practice of using the sales taxes from
<br />expenditures in the construction funds to pay down debt service
<br />at the end of the construction phase. With Qualified School
<br />Construction Bonds (QSCB) funds, all proceeds must be spent on
<br />defined projects, per bond counsel. Cabarrus County Schools (CCS)
<br />has approximately $83,917.00 in sales tax monies which they would
<br />like to apply towards repairing the parking lot at the
<br />construction site of the Northwest High School Gymnasium. The
<br />request has been reviewed by Steve Cordell, Cabarrus County bond
<br />counsel, and qualifies as an approved project. No budget revision
<br />will be necessary to accomplish this request.
<br />CCS may have approximately $23,000.00 in contingency funds
<br />available to be added to the $83,917.00 which totals $106,917.00.
<br />The bid for a portion of the surface area costs $77,000.00 and
<br />includes unit cost to add more square footage of repairing, if
<br />funds exist. This will allow the balance of $29,917.00, or a
<br />portion thereof, to be used to expand the repairs of the balance
<br />of the parking lot.
<br />A discussion ensued. During discussion, Mr. Witke responded to
<br />questions from the Board. A miscalculation was noted in the above
<br />information and should be shown as:
<br />CCS may have approximately $25,122.00 in contingency funds
<br />available to be added to the $83,917.00 which totals $109,039.00.
<br />The bid for a portion of the surface area costs $77,000.00 and
<br />includes unit cost to add more square footage of repairing, if
<br />funds exist. This will allow the balance of $32,039.00, or a
<br />portion thereof, to be used to expand the repairs of the balance
<br />of the parking lot.
<br />CCS — FUnding Request for Central Caba=us High School Artificial Turf
<br />Proi
<br />Kelly Kluttz, CCS Finance Director introduced the item, presenting the
<br />
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