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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />MARCH 15, 2010 <br />6:30 P.M. <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />Finance -Budget Amendment (Sheriff's Administration Building Construction <br />Close-Out - $774.22 and Adjustment to Capital Reserve Fund - $131,525.33) <br />and Adopt Revised Capital Project Ordinance and Revised Capital Reserve <br />Resolution <br />BRIEF SUMMARY: <br />Construction of the Sheriff's Administration Building has been completed. <br />The following budget amendment: (1) closes out the construction project <br />budgeted line items; (2) makes a transfer to the General Fund for the <br />February 1, 2010 debt service interest payment; (3) sets up the expenditure <br />for the arbitrage rebate through a reduction in the Transfer to the Capital <br />Reserve Fund budgeted line item; and (4) adjusts the amount projected to be <br />transferred to the Capital Reserve fund based on the final arbitrage <br />calculation provided by Bingham Arbritrage on February 22, 2010. <br />REQUESTED ACTION: <br />Motion to adopt budget amendment, revised capital project ordinance and <br />revised capital reserve resolution. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Susan B. Fearrington, Assistant Finance Director <br />BUDGET AMENDMENT REQUIRED: <br />Yes <br />F-3 Page 55 <br />