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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST ((-- <br />Meeting Date 8/18/08 Agenda Item # 1" 4 <br />SUBJECT: <br />Tourism Authority -Draft Reserve Policy <br />BRIEF SUMMARY: <br />County staff has worked with the CVB staff to develop a reserve policy. The amount that is <br />recommended (17%) requires the appropriation of $204,605 from last fiscal year's <br />anticipated fund balance. Since the CVB is no longer under the umbrella of the County, it <br />is recommended that a contract be developed specifying the details of the relationship. <br />REQUESTED ACTION: (Suggested motion if the Board approves the agenda item as presented) <br />1. Motion to approve the Reserve Policy as presented and authorize the County Manager <br />and County Attorney to prepare and execute a contract with the Tourism Authority. <br />2. Motion to adopt budget amendment. <br />Attachments ^X Yes ^ No Expected Length of Presentation <br />Submitted By: John Day, County Manager Date: 8/2/08 <br />Name I Job Title <br />Budget Amendment Required: ^ Yes ^ No <br />Budget Amendment Attached and Reviewed by Budget Officer: ^ Yes ^ No <br />County Manager's Recommendations/Comments: <br />This item was approved by the Board for inclusion on the Agenda as a Consent item. <br />Approval is recommended. <br />Action Taken: <br />Approved [ ] <br />Denied [ ] <br />Deferred [ ] <br />Other [ ] <br />-~~ <br />