Laserfiche WebLink
CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />NOVEMBER 19, 2012 <br />6:30 P.M. <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />County Manager - Budget Transfer of $234,825 of Rowan Cabarrus Community College's (RCCC) Capital <br />Reserve Funds <br />BRIEF SUMMARY: <br />Upon the completion of Building 3000 on the RCCC campus, the college had $280,042.86 of funds remaining <br />from the project along with state matching funds (held by the state). In order for the college to access the state <br />funds, the County agreed to reserve these monies for future college projects. RCCC has requested to allocate <br />$234,825 of these monies towards the South Campus Renovation for one stop, student services, and the <br />academic advisory center in building 1000. The projects total cost is $1,073,922 of which the college already has <br />$638,883 ($488,883 from the state matching funds, $100,000 from capital outlay monies, and $50,000 from the <br />college reserves) of the funds dedicated, a request to the state for $200,214 state equipment funds and the <br />balance from the reserves held by the county. <br />REQUESTED ACTION: <br />Motion to adopt budget amendment. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Pamela S. Dubois, Deputy County Manager <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 Request <br />Date: 11/19/2012 Amount: $234,825.00 <br />Dept. Head: Pamela S. Dubois Department: Schools, Capital Outlay /Finance /Cap Res <br />"Internal Transfer Within Department "Transfer Between Departments /Funds bSupplemental Request <br />Purpose: <br />To allocate funds from the Capital Reserve Fund (excess funds from the construction of building 3000 on RCCC campus) for the <br />South Campus Renovation project for one stop, student services, and academic advisory center in building 1000. <br />Account Number j Account Name Approved Budget Inc Amount Dec Amount Revised Budget <br />001 61 71 0 -6921 Cont from CRF $0.00 $234,825.00 $234,825.00 <br />001 9721 0 -971 9 RCCC - Capital Outlay $584,783.00 $234,825.00 $819,608.00 <br />F -1 Page 36 <br />