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June 15, 1998 <br /> <br />Sammy Hicks, III <br />Assistant Plant Controller <br />Coming Incorporated <br />PO Box 1700 <br />Concord, NC 28026-1700 <br /> <br />Re: Construction Period Interest (FASB 34) <br />Account: 16593200 <br /> <br />Dear Sammy: <br /> <br />As we have discussed on several earlier occasions, we need from you an mount of' <br />construction period interest, which should be booked to the Cabarrus Facility. Given the <br />dollars expended and the scope of the project we would expect that GAAP would guide <br />Coming to conform to FASB 34 (and thus allocate and capitalize construction period <br />interest to the facility). <br /> <br />As we have included such interest as a cost component of other projects of similar size in <br />the County (in order to determine value), it is only equitable to ask the same of Coming. <br /> <br />I would appreciate your submitting the requested information to this office by Tuesday, <br />June 30, 1998. Thank you for your cooperation in this matter and feel free to contact me <br />for any questions you may have. <br /> <br />Sincerely, <br /> <br />William H. Kouri, Jr. <br />Auditor II <br /> <br />cc: Blair Bennett, Deputy County Manager/Administrations <br /> <br /> Oflice o! County Assessor <br /> <br />Box 707 * Concofrl, NC ;~8026.0707 * (704) 788.8166 * Fax (7041 788.8111 <br /> <br /> <br />