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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br /> <br />Meeting Date 6/16/03 Agenda Item <br /> <br />SUBJECT: <br />FY 2003 Corning Inc. Incentive Grant <br /> <br />BRIEF SUMMARY: <br /> <br />A discovery of personal property at Corning Inc. that equates to a tax levy of $191,028 and <br />under budgeting of the FY 2003 Corning incentive grant expenditures has resulted in a <br />shortfall of $313,108 in that line-item. <br /> <br />The attached budget amendment appropriates collected but unbudgeted property tax <br />revenue to pay the full amount of the grant for FY 2003. <br /> <br />REQUESTED ACTION: (Suggested motion if the Board approves the agenda item as presented) <br /> <br />Approval of budget revision. <br /> <br />Attachments [] Yes [] No Expected Length of Presentation <br /> <br />Submitted By: Pamela S. Dubois, Finance Director Date: 6/3/03 <br /> <br />Budget Amendment Required: [] Yes [] No <br /> <br />Budget Amendment Attached and Reviewed by Budget Officer: <br /> <br />[] Yes [] No <br /> <br />County Manager's Recommendations/Comments: <br /> <br />Approval required to fulfill incentive grant agreement. <br /> <br />Manager's Signature <br /> <br />Action Taken: <br /> <br />Approved [ ] Deferred [ ] <br />Denied [] Other [] <br /> <br /> <br />