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[£ABARRUS IOU 'I <br /> <br />June 8, 1992 <br /> <br />MEMO <br /> <br />TO'. Board of Commissioners <br /> <br />From: Blair Bennett, Finance Director <br /> <br />S~ject: Sale of Surplus Property <br /> <br />Cabarrus County conducted an auction of surplus property on 6/5/92. <br />The results of that sale are summarized below. <br /> <br />Merchandise <br />Vehicles <br />Total Sale <br /> <br /> $2,674.00 <br /> 8,825.00 <br />$11,499.00 <br /> <br />Fee due Kermit Cruse <br /> <br />Merchandise $2,674 @ 10% = $267.40 <br />Vehicles $8,825 @ 5% = 441.25 <br /> <br />$708.65 <br /> <br />Sale funds due to schools less sales fees <br /> <br />Merchandise $1,029.00 @ 10% = $102.90 <br />Vehicle $1,050.00 @ 5% = 52.50 <br /> $2,079.00 <br /> <br />$155.40 <br /> <br />Total school sale <br />Less fee <br />Balance due school <br /> <br />$2,079.00 <br /> . 155..40 <br />$1,923.60 <br /> <br />Net proceeds for Cabarrus County <br /> <br />Total sale <br />Less auctioneer <br />Less school <br /> <br />$11,499.00 <br />708.65 <br />1,923.60 <br />$ 8,866.75 <br /> <br />Finance Department <br /> <br /> <br />