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<br /> <br />Finance Department <br /> <br />May 30, 2006 <br /> <br />To: Board of County Commissioners <br />From: Pamela S. Dubois, Deputy County Manager rJ!l <br /> <br />Subject: Loss of sales tax reimbursement for School Purchases/Construction <br /> <br />Effective July 1, 2005, School systems can no longer claim sales tax refunds on their purchases <br />or for construction projects. Counties may claim refunds for construction of schools under two <br />circumstances: (a) counties own the schools under GS 153A-158.1 and; (b) the School and the <br />County enter into an interlocal agreement for the construction of the Schools. However, the <br />legislation has been introduced in a bill at both the House and Senate to restore the ability for <br />Schools to receive sales tax refunds. If this bill does not restore the sales tax refund ability, the <br />schools will forfeit approximately $ 173,992 in sales tax refunds currently and future potential <br />refunds can not be determined at this time. See attached charts which discloses the schools <br />ineligible to receive refunds and the current amount determined to be lost if the bill does not <br />reverse this action. <br /> <br />~ <br />Finance Department ~""""~'^DIIIH= <br />P.O. Box 707 . Concord, North Carolina 28026-0707 . 704-920-2104 . WINW.cabarruscounty.us ~ I ~ <br /> <br />I-I <br />