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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />SEPTEMBER 20, 2010 <br />6:30 P.M. <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />Finance - Budget Amendment & Project Ordinance - Agricultural Department <br />Farmland & Preservation Grant, Special Revenue Fund - $409,907 <br />BRIEF SUMMARY: <br />A budget amendment is presented to transfer all the Deferred Taxes <br />collected and interest earned on Farm Land from the General Fund as of <br />June 30, 2010 to the Special Revenue Fund. Beginning FY 2011, these <br />taxes will be accounted for in the Special Revenue Fund for the Agricultural <br />Department Farmland & Preservation (ADFP) Grant. In addition, it is <br />necessary to reclassify budgeted expenses in various line items. All <br />construction costs were originally budgeted in Maintenance and Supplies <br />because the County anticipated not taking ownership of the property once <br />construction was complete. The County will now have control over this <br />property as a result expenses need to be paid out of the construction budget <br />for capitalization purposes. <br />REQUESTED ACTION: <br />Motion to adopt budget amendment and revised project ordinance. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Pamela S. Dubois, Deputy County Manager <br />BUDGET AMENDMENT REQUIRED: <br />Yes <br />Page 109 <br />F -8 <br />