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CABARRUS COUNTY <br />BOARD OF • • <br />* <br />REGULAR MEETING <br />p �H�a 1r� SEPTEMB <br />`�iri�JJ1 /J� <br />6: 30 P .M. <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />Finance - Transfer of Four Capital Improvement Projects from the General <br />Fund to the Construction and Renovations Capital Projects Fund <br />BRIEF SUMMARY: <br />Four minor construction and renovations projects were budgeted in the <br />General Fund as part of the annual budget process. After discussions <br />amongst finance staff, it was determined for accounting and budgeting <br />purposes that it makes more sense to keep all construction and renovations <br />projects within a capital projects funds. This allows the project to run <br />throughout completion without crossing over fiscal years requiring re- <br />appropriation of funds, accounts for all the cost for capitalization purposes, <br />and does not inflate the General Funds annual budget. The four projects are <br />the Governmental Center Main Area Handler, the Old Board of Elections <br />Demolition, Arena Roof replacement and Kannapolis Library Program Room. <br />A revised Construction and Renovation Capital Project Ordinance has also <br />been submitted for approval. <br />REQUESTED ACTION: <br />Motion to adopt budget amendment and the related capital project ordinance. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Susan B. Fearrington, Assistant Finance Director <br />BUDGET AMENDMENT REQUIRED: <br />Yes <br />F -7 Page 110 <br />