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D Greater than $5,000,000 $5,200 <br /> <br /> Finally, Mr. Bennett recommended approval to move forward with the audits <br /> along with approval of a budget amendment appropriating an additional <br /> $60,000.00 for audits to be done this fiscal year. <br /> <br /> UPON MOTION of Vice Chairman Suggs, seconded by Commissioner Privette <br /> and unanimously carried, the Board agreed for Tax Management Associates to <br /> proceed with the business personal property audits as outlined by Mr. <br /> Bennett. Further, the Board adopted the following budget amendment to <br /> provide additional funding for audits to be done during FY 2003. <br /> <br /> BUDGET REVISION/AMENDMENT REQUEST <br /> <br /> DEPARTMENT OF Tax Assessor <br /> AMOUNT: $60,000.00 <br /> TYPE OF ADJUSTMENT: Supplemental Request <br /> PURPOSE OF REQUEST: Additional funding for personal business and property <br /> audits to be completed by June 30, 2003. <br /> <br /> Present <br /> Account NO. Approved Budget Increase Decrease Revised Budget <br /> 00191410 9445 $138,391.00 $60,000.00 $198,391.00 <br /> Purchased Services <br /> 00161710 6901 $5,100,059.88 $60,000.00 $5,160,059.88 <br /> Fund Balance Appropriated <br /> <br /> (F-2) A~nual Audit Presentation with Financial Updates <br /> <br /> MS. Pam Dubois, Assistant Finance Director, presented the annual audit <br />for the fiscal year that ended June 30, 2002 along with financial updates. <br />She addressed the following issues during her presentation: Revenues by <br />Source; Percentage of Change in Ad Valorem Tax Revenues; Growth in Sales Tax <br /> Revenue; Expenditures by Function; County Schools Expenditures; Debt; <br /> Undesignated Fund Balance as Percentage of Expenditures. <br /> <br />(F-3) HOM~ Pro,ram - Public Hearing - 6~30 p.= <br /> <br /> Ms. Kelly Slfford, Community Development Manager, presented a brief <br />overview of the HOMB Program. She reported that funds in the amount of <br />$125,000.00 are expected for the continuation of the Program with a required <br />County match of 25 percent. <br /> <br /> Chairman Freeman opened the public hearing on the HOMB Program at 8:15 <br />p.m. and asked if anyone wished to address the Board regarding the program. <br />The Notice of the Public Hearing was published in THE INDEPENDENT TRIBUNE on <br />January 17 and January 19, 2003. <br /> <br /> Ms. Betty Cannon of the Fishertown Community asked for information <br />about the HOMB program and eligibility requirements. <br /> <br /> Ms. Sifford explained the HOME program is a home construction and <br />rehabilitation program for low to moderate-income persons. She stated the <br />program does not provide funds for infrastructure. <br /> <br /> There was no one else present to address the Board, and Chairman <br />Freeman closed the public hearing at 8:18 p.m. <br /> <br /> There was discussion regarding the sewer problems that have existed in <br />the Fishertown/Princeton Park area for a number of years. Board members <br />questioned the availability of any grant program that could provide funds for <br />infrastructure in that community. <br /> <br /> Ms. Sifford reviewed the Small Cities Community Development Block Grant <br />(CDBG) Infrastructure Program and explained that funding is based on the <br />~tier" system with Cabarrus County ranked in Tier 5. She reported that a <br />previous service-engineering estimate placed the cost to provide sewer to <br />approximately 143 homes in the Fishertown/Princeton Park community at <br />approximately $1.85 million or $12,958.00 per unit. <br /> <br /> Board members discussed the preparation of CDBG grants and the <br />possibility of a firm such as Hobbs, Upchurch and Associates preparing a <br /> <br /> <br />