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BUDGET REVISION/AMENDMENT REQUEST
<br />
<br />DEPARTMENT OF Finance
<br />AMOUNT $454.00
<br />TYPE OF ADJUSTMENT Supplemental request
<br />PURPOSE OF REQUEST To increase the Certificates of Participation Series 2002
<br />Construction Fund for additional interest income. This will also increase the
<br />Contribution to the General Fund for payment of semi-annual debt
<br />
<br /> Present
<br /> Account NO. Approved Budget Increase Decrease Revised Budget
<br />36160000-6705 $63,145 00 $454.00 $63,599.00
<br />Interest Income
<br />36190000-9704 $63,145 00 $454.00 $63,599 00
<br /> Contribution to General Fund
<br />
<br />(F-10) Finance - Budget Amendments (Certificates of Participation, Series 2003)
<br />
<br /> UPON MOTION of Commissioner Privette, seconded by Commissioner Carpenter
<br />and unanimously carried, the Board adopted the following budget amendments
<br />
<br /> BUDGET REVISION/AMENDMENT REQUEST
<br />
<br />DEPARTMENT OF Finance
<br />AMOUNT. $325,724 00
<br />TYPE OF ADJUSTMENT. Supplemental Request
<br />PURPOSE OF REQUEST: To increase the Certificates of PartIcipation Series 2003
<br />Construction Fund for additional interest income, to decrease the Contingency
<br />line item, and to decrease the Equipment and Furniture line items to their closer
<br />anticipated budgeted figures. The additional funds will be sent to the General
<br />Fund to make a semi-annual debt payment as required by our COPS III financing
<br />agreement with SouthTrust Bank.
<br />
<br /> Present
<br /> Account NO. Approved Budget Increase Decrease Revised Budget
<br />36297322-9704 $0.00 $965,824.00 $965,824.00
<br /> Contribution to the General Fund
<br />36297321-9660 $240,100.00 $240,100.00 $0.00
<br />Contingency
<br />36260000-6705 $325,724.00 $325,724.00
<br /> Interest on Investments
<br />36297404-9860 $1,680,000.00 $250,000.00 $1,430,000.00
<br /> Equipment and Furniture
<br />36297321-9860 $1,360,000.00 $150,000.00 $1,210,000.00
<br /> Equipment and Furniture
<br />
<br /> BUDGET REVISION/AMENDMENT REQUEST
<br />
<br />DEPARTMENT OF Finance
<br />AMOUNT. $965,824 00
<br />TYPE OF ADJUSTMENT. Supplemental Request
<br />PURPOSE OF REQUEST: To increase the Contribution from the Capital Projects Fund.
<br />These funds are from the Certificates of Participation Series 2003 and will be
<br />used to make a semi-annual debt payment as required by our COPS III financing
<br />agreement with SouthTrust Bank.
<br />
<br /> Present
<br /> Account No. Approved Budget Increase Decrease Revised Budget
<br />00169110-6920 $965,824.00 $965,824.00
<br /> Contribution from Capital Pro3ects Fund
<br />00199110-9975 $2,010,717 98 $965,824.00 $2,976,541.98
<br /> COPS Interest - Schools
<br />
<br />(F-11) Community Development - Budget Amgndment (Urgent Repair Funding)
<br />
<br /> UPON MOTION of Commissioner Privette, seconded by Commissioner Carpenter
<br />and unanimously carried, the Board adopted the following budget amendment.
<br />
<br /> BUDGET REVISION/AMENDMENT REQUEST
<br />
<br />DEPARTMENT OF Community Development
<br />AMOUNT- $15,000.00
<br />TYPE OF ADJUSTMENT: Supplemental Request
<br />PURPOSE OF REQUEST: The Board agreed on August 18, 2003 to match the Urgent
<br />Repair Grant funding with $1~,000 if the North Carolina Housing Finance Agency
<br />approved a $75,000 grant, however, the Agency did not approve grant funding.
<br />Therefore, due to incredible demand this year as a result of the Plllowtex
<br />layoffs and sustained cold weather, housing rehabilitation repair needs have
<br />increased. Additional urgent care funding will provide repairs, such as, heating
<br />systems, wheelchair ramps and other urgent home repairs.
<br />
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