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April 3, 2017 (Work Session) Page 3084
<br /> utner
<br /> Land Banking Funding - - - - -
<br /> Additional Funding for Cabarrus Health Alliance 412,638 - - - -
<br /> Increases/Decreases in Incentive Payments 110,000 945,000 520,508 (361,683) (929,825)
<br /> Increase (Decrease) in Expenditures 511,365 - - -
<br /> Total Recurring Expenditures 250,668,800 253,338,059 253,200,641 253,471,278 251,672,432
<br /> Total Expenditures $ 250,668,800 $ 253,338,059 $ 253,200,641 $ 253,471,278 $ 251,672,432
<br /> Revenues over (under) Expenditures $ (4,204,092) $ (1,740,643) $ 3,662,661 $ 19,464,486 $ 24,912,957
<br /> Estimated Unassigned Fund Balance (changes) $ 50,718,395 $ 48,977,752 3 52,640,413 $ 72,104,899 $ 97,017,856
<br /> Property Tax Rate $0.70/ 100 $0.70/ 100 $0.70/ 100 $0.70/ 100 $0.70/ 100
<br /> Total Debt Service Payments 4 51,291,008 s 50,741,205 5 47,755,236 5 46,003,889 $ 42,693,884
<br /> as a % of Current Budget 20.46% 20.03% 18.86% 18.15% 16.96%
<br /> The Capital Improvement Plan was also reviewed, including County and
<br /> school capital projects.
<br /> Ms. Dubois provided a handout of the CCS Adjusted Timeline to the Board
<br /> and a discussion ensued.
<br /> First Five Years Budget (2015) Timeline
<br /> PLC $4 Million Opening 2018
<br /> New High School on Weddington Rd. for growth $70 Million Opening 2019
<br /> New Southwest area Elementary School for growth $26 Million Opening 2019
<br /> RBMES replacement Elementary School $25 Million Opening 2020
<br /> CWES replacement Elementary School $25 Million Opening 2021
<br /> CCHS Replacement estimated cost $60 Million Opening 2022
<br /> New JMRHS area feeder Middle School for growth $45 Million Opening 2022
<br /> Capital Projects $13 Million
<br /> Total: $268 Million
<br /> In closing, Mr. Downs requested direction from the Board regarding
<br /> recommendations and changes to the proposed FY18 budget.
<br /> Discussion Items for Action at April 18, 2017 Meeting (Continued)
<br /> Board of Elections - Purchase of 60 Model DS200 Scanners
<br /> Carol Soles, Director of Elections, presented a request for the purchase
<br /> of 60 Model DS200 scanners as part of the Capital Improvement Plan (CIP) for
<br /> FY18.
<br /> Pam Dubois, Senior Deputy County Manager, advised Board of Elections has
<br /> $5, 775. 00 left in their multi-year project fund, $200, 000.00 leftover in their
<br /> election line items due to fewer elections needed and will be credited
<br /> $65, 000.00 for trading in the old DS100 model scanners. In using these funds
<br /> along with funds from the excess Medicaid Hold Harmless funds, this request can
<br /> be moved from the capital requests freeing up money in the FY18 budget.
<br /> A lengthy discussion ensued. During discussion, Ms. Soles, Ms. Dubois
<br /> and David Black, Board of Elections, Chairman, responded to questions from the
<br /> Board.
<br /> Finance - Establishment of Other Post-Employment Benefits Trust Fund and Local
<br /> Government Law Enforcement Special Separation Allowance Trust Fund
<br /> Susan Fearrington, Finance Director, reported the State of North Carolina
<br /> and the Local Government Commission are encouraging local governments to set up
<br /> trust funds for Other Post-Employment Benefits (OPEB) and a Local Government
<br /> Law Enforcement Special Separation Allowance (LEOSSA) . She requested the Board
<br /> approve the establishment of the OPEB Trust Fund with an original deposit of
<br /> $1, 000, 000.00 and the LEOSSA Trust Fund with an original deposit of
<br /> $1, 576, 476.00.
<br /> A discussion ensued. During discussion, Ms. Fearrington and Pam Dubois,
<br /> Senior Deputy County Manager responded to questions from the Board.
<br /> Finance - Resolution Declaring Official Intent to Reimburse Expenditures with
<br /> Proceeds of Debt Pursuant to U. S. Department of Treasury Regulations
<br /> Susan Fearrington, Finance Director, requested approval of a resolution
<br /> that would allow the County to advance funds to pay certain expenses associated
<br /> with the new high school and Performance Learning Center and then reimburse
<br /> itself with proceeds of the debt incurred for the 2017 Limited Obligation Bonds.
<br /> She advised there is an increase in the price of the new high school and the
<br /> resolution will be updated in that regard for approval at the regular meeting.
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