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660 Concord Parkway North <br />PO Box 388 <br />Concord, NC 28026.0388 <br /> <br />~$ ~.~.~_abarrus <br /> County Schools <br /> <br />704.786.6191 <br />704.786.6141 fax <br />704.375.0596 Charlotte <br /> <br />MEMO TO: <br />FROM: <br />DATE: <br />SUBJECT: <br /> <br />Frank ~ <br /> Clifton <br />Harold Winkle <br />August 12, 2002 <br />USE OF CARRYOVER FUNDS <br /> <br />In accordance with our previous conversations, please use this <br />memorandum as an official request from our Board of Education to <br />provide flexibility in use of grounds carryover funds from the 2001-02 <br />fiscal year. Particulars of the request are as follows: <br /> <br />The carryover funds were generated primarily from reduced <br />mowing cycles over the past few years due to drought <br />conditions. <br /> <br />The funds would be used on one-time expenditures, primarily <br />for Capital Outlay. <br /> <br />The final carryover for 2001-02 from the grounds maintenance <br />was $ 469,592 and would be distributed as follows: <br /> <br />Cabarrus County Schools (82.4%) <br />Kannapolis City Schools (17.6%) <br /> <br />$ 386,944 <br /> 82,648 <br />$ 469,592 <br /> <br />(The percentages above reflect Cabarrus and Rowan <br />ADM funding as required by the Consolidated <br />Maintenance agreement) <br /> <br />Upon approval, we will forward a check to Kannapolis City <br />Schools for their share. <br /> <br />We thank you in advance for consideration of our request. <br /> <br />HW/mm F- / 0 An Equal <br /> Opportunity Employer <br /> <br /> <br />