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June 19, 2017 (Regular Meeting) Page 3190
<br /> Adopted this the 19t° day of June, 2017.
<br /> /s/ Stephen M. Morris
<br /> Stephen M. Morris, Chairman
<br /> /s/ Megan Smit
<br /> Megan Smit, Clerk to the Board
<br /> (G-2) Finance - Update of Capital Project Fund Budgets and Related Project
<br /> Ordinances
<br /> Susan Fearrington, Finance Director, advised each year the multi-year
<br /> fund budgets and Project Ordinances are evaluated and updated. She stated
<br /> budget amendments and project ordinance updates are needed for the Construction
<br /> and Renovation Fund (Fund 343) , School Construction Fund (Fund 364) , Community
<br /> Development Block Grant Fund (Fund 410) , Sheriff's Department Fund (Fund
<br /> 461) , Small Projects Fund (Fund 460) , Department of Aging Fund (Fund 532) , and
<br /> Cannon Memorial Library Fund (Fund 534) .
<br /> UPON MOTION of Commissioner Shue, seconded by Commissioner Kiser and
<br /> unanimously carried, the Board approved the Multi-year Budget Amendments and
<br /> revised Project Ordinances.
<br /> Date: 6/19/2017 Amount: $245,000
<br /> Dept. Head: Susan Fearrington Department: Construction & Renovation
<br /> ❑ Internal Transfer Within Department ❑ Transfer Between Departments/Funds Q supplemental Request
<br /> Purpose: This Budget Amendment records the remaining portion of the Thompson Land purchased for Rob
<br /> Wallace Park. Cash payments were made in February 2017 in the amount of $266,029.52 and a lease
<br /> agreement was signed for $245,000 to be paid during FY18 to FY22. The total cost of the land is
<br /> $511,029.52. For accounting purposes the amount of the debt service is required to be recorded as
<br /> an expenditure and proceeds from lease in the year of acquisition. This budget amendment records
<br /> the transaction in the multi-year Construction and Renovation Fund.
<br /> Account Number Account Name Approved Budget Inc Amount Dec Amount Revised Budget
<br /> 34398140-9801-0618 Land Acq - Rob Wallace $3,823,588.83 $245,000.00 $4,068,588.83
<br /> 34368140-6905-0616 Proceeds fr Lease RWP $3,421,393.83 $245,000.00 $3,666,393.83
<br /> Ordinance No. 2017-33
<br /> CABARRUS COUNTY CONSTRUCTION AND RENOVATION PROJECT
<br /> BUDGET ORDINANCE
<br /> BE IT ORDAINED by the Board of Commissioners of Cabarrus County, North
<br /> Carolina that, Pursuant to Section 13.2 of Chapter 159 of the General Statutes
<br /> of North Carolina, the following capital project ordinance is hereby adopted:
<br /> Section I.
<br /> A. The project authorized is the various County construction and
<br /> renovation related projects. Details of the projects are listed in
<br /> section C. of this Project Ordinance.
<br /> B. The officers of this unit are hereby directed to proceed with this
<br /> capital project within the terms of the Generally Accepted Accounting
<br /> Principles (GAAP) and the budget contained herein.
<br /> C. It is estimated that the following revenues will be available to
<br /> complete capital projects as listed.
<br /> Capital Projects Fund (Capital Reserve Fund) $4, 753,063
<br /> Rental - Tower Lease 726,099
<br /> Lease Proceeds ( Robert Wallace Park) 3, 666,394
<br /> General Fund Contribution 4, 249,778
<br /> Sale of Fixed Assets 423,417
<br /> Contributions and Donations 117,036
<br /> Park & Recreation Trust Fund(PARTF) Grant 350,000
<br /> TOTAL REVENUES $14, 285,787
<br /> D. The following appropriations are made as listed.
<br /> Tax Collector Renovation 163,500
<br /> BOE Election Equipment 323,000
<br /> County Website Design 283,750
<br /> Jail Camera Upgrade 47,000
<br /> LEC Law Enforcement Technology 786, 932
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