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<br />CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br /> <br />Agenda Item # <br /> <br />F-/3 <br /> <br />Meeting Date 12/20/04 <br /> <br />SUBJECT: <br />Establishment of General Ledger Fund 462 - Adequate Facilities Fund <br /> <br />BRIEF SUMMARY: <br /> <br />In October of 2004, the Board approved the countywide collection of adequate facility <br />contributions associated with construction of single family, multifamily and mobile home <br />parks. Due to the expected increase in collections, the establishment of a separate fund to <br />account for these contributions is recommended. This will provide for the segregation of <br />these collections from the current capital reserve funds, were they were previously <br />deposited. The funds collected by year are as follows: FY2000 $14,500, FY2001 <br />$71,500, FY2002 $63,500, FY2003 $136,990, FY2004 $159,425. <br /> <br />REQUESTED ACTION: (Suggested motion if the Board approves the agenda item as presented) <br />Approve two budget amendments establishing Fund 462 - Adequate Facilities Fund. <br /> <br />Attachments ~ Yes D No Expected Length of Presentation <br /> <br />Submitted By: Susan B. Fearrington/Asst. Finance Director Date: 11/9/04 <br /> <br />Name / Job Title <br /> <br />Budget Amendment Required: ~ Yes D No <br />Budget Amendment Attached and Reviewed by Budget Officer: ~ Yes D No <br /> <br />County Manager's Recommendations/Comments: <br /> <br />Approval is recommended. <br /> <br />Manager's Signature <br /> <br /> <br />Action Taken: <br />Approved [] <br />Denied [ ] <br /> <br />Deferred [] <br />Other [ ] <br /> <br />F-/3 <br />