BC 2015 01 20 Regular Meeting - Laserfiche WebLink

Home Browse Search

January 20, 2015 (Regular Meeting) Page 2264 Chairman Morris pledged to find a better process for future projects. Commissioner Honeycutt seconded the MOTION. Commissioner Honeycutt reiterated Chairman Morris' comments and expressed support for good relations between the two boards. Commissioner Mynatt expressed her support for the project and her intent to vote for the motion. Commissioner Shue expressed agreement with the aforementioned comments and his intent to vote for the motion. Vice Chairman Poole requested information regarding funding. Pam Dubois, Senior Deputy County Manager, advised the funds would come from the Capital Reserve Fund. She also stated this allocation of funds would require adoption of a related budget amendment and of two project ordinance updates. Chairman Morris amended the MOTION to state the funds are to come out of the Capital Reserve Fund; to approve the appropriate budget revisions; and update the Capital Reserve Fund and School Construction project ordinances. Commissioner Honeycutt amended her second to the motion. The MOTION unanimously carried. Date:1/20/2015 Amount:$877,872.00 Dept. Head: Susan Fearrington Department :Finance - School Construction Fund ❑ Internal Transfer Within Department ❑ Transfer Between Departments /Funds 0 Supplemental Request Purpose: On January 20, 2015, the Board of Commissioners approved $877,872 of additional funding for the Odell 3 -5 School. $837,372 will complete the contractual obligation for the project and $40,500 will be allocated for the LED lighting project. The funds will be allocated from the Capital Reserve Fund. An additional $307,000 will remain in the Capital Reserve Fund and be assigned to the Odell 3 -5 oroiect as a Continuencv. Account Number Account Name Approved Budget Inc Amount Dec Amount Revised Budget 36497342 --9820 Construction $13,235,369.00 $877,872.00 $14,113,241.00 364673426921 Contribution from CRF $17,066,294.00 $877,972.00 $17,944,166.00 45097220 -9821 Bldg & Renovations $4,133,849.49 $877,872.00 $3,255,977.49 45097220 -9708 Cont to capital Prcj $$40,377,999.56 $877,872.00 $41,255,871.56 Ordinance No. 2015 -04 CABARRUS COUNTY CAPITAL RESERVE CAPITAL PROJECT BUDGET ORDINANCE BE IT ORDAINED by the Board of Commissioners of Cabarrus County, North Carolina that, Pursuant to Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the following capital project ordinance is hereby adopted: Section I. A. The project authorized is for the purpose of accumulating and appropriating funds specifically for future County and School capital projects. B. The officers of this unit are hereby directed to proceed with this capital project within the terms of the Generally Accepted Accounting Principles (GAAP) and the budget contained herein. C. It is estimated that the following revenues will be available to complete capital projects as listed. Contributions from General Fund Contributions from CVB Interest on Investments TOTAL REVENUES D. The following appropriations are made as listed: $45,074,750 $398,000 $307,142 $45,779,B92 Odell 3 -5 Elementary School $17,944,166