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<br />CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br /> <br />Meeting Date 5/15/06 <br /> <br />Agenda Item # G - l <br /> <br />SUBJECT: <br />Cabarrus Arena and Events Center Construction Fund <br /> <br />BRIEF SUMMARY: <br /> <br />The Arena Construction Fund contains $483,508. Since the original construction project <br />has been completed, three options are suggested for closing out the fund. 1) use the <br />money remaining in the construction fund to establish a reserve fund for capital <br />improvements and major maintenance projects at the Arena, 2) Apply the $483,506 to a <br />future debt service payment, or 3) Transfer the money to the General Fund or the Capital <br />Reserve Fund. Regardless of which option is chosen, the fund must be liquidated in order <br />to close it. <br /> <br />REQUESTED ACTION: (Suggeated motion "the Board approves the agenda Item as pl'8Sented) <br />Select an option and authorize County staff to execute appropriate budget amendments <br /> <br />Attachments ~ Yes 0 No Expected Length of Presentation 5 minutes <br /> <br />Submitted By: Susan B. FearringtonlAsst. Finance Director Date: 4/24/06 <br />Name / Job Title <br /> <br />Budget Amendment Required: ~ Yes 0 No <br />Budget Amendment Attached and Reviewed by Budget Officer: 0 Yes 0 No <br /> <br />County Manager's Recommendations/Comments: <br /> <br />Selection of one of the three options is suggested. <br /> <br />Manager's Signature <br /> <br /> <br />(j <br /> <br />Action Taken: <br />Approved [] <br />Denied [ ] <br /> <br />Defened [] <br />Other [ ] <br /> <br />8-1 <br />