BC 2015 06 01 Work Session - Laserfiche WebLink

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June I, 2025 (Work Session) Page 2424 The Sheriff's Department provides services for the Child Support Division of the Human Services Department. The budget had been established in past years so that the Sheriff's Department received revenues (administrative reimbursement for state) versus being paid for the services actually provided. Changes were made to this process this fiscal year to correct the accounting. This budget revision will correct the line items involved in this process. The FY16 budget will also reflect this change in accounting. Finance - Lottery Proceeds Allocated for Rowan County Schools within the Kannapolis City Schools District Susan Fearrington, Finance Director, presented the following information relating to lottery proceeds allocated for Rowan County Schools within the Kannapolis City Schools District. Lottery revenue projects approved and allocated for Kannapolis City Schools that are located within Rowan County are being transferred by the State to the Cabarrus County Disbursing Account. We are the caretakers of these funds, therefore Cabarrus County is responsible for recording the revenue and expenditures for the Rowan County projects in the Cabarrus County Public School Building Capital Fund. Rowan County will be submitting a $300,000.00 request to the State of North Carolina to be used for Debt Service. Because the funds are passed through Cabarrus County's general ledger, we are required to prepare an updated Project Ordinance and related budget amendment. Finance - Update of Capital Project, Special Revenue and Capital Reserve Fund Budgets and Related Project Ordinances Susan Fearrington, Finance Director, presented the following information relating to an update of Capital Project, Special Revenue and Capital Reserve Fund Budgets and related Project Ordinances. She also responded to questions from the Board. Each year the multi -year fund budgets and Project Ordinances are evaluated and updated. Based on the Finance Department's evaluation: A budget amendment is included with this agenda item for the Certificates of Participation 2009 Capital Project Fund (Fund 365), the Capital Reserve Fund (Fund 450), the Small Projects Capital Project Fund (Fund 460), the Sheriff's Department Special Revenue Fund (Fund 461), the Department of Aging Special Revenue Fund (Fund 532), and the Cannon Memorial Library Fund (Fund 534). Project Ordinance updates are included with this agenda item for the Construction and Renovation Capital Project Fund (Fund 343), School Construction Capital Project Fund (Fund 364), the Certificates of Participation 2009 Capital Projects Fund (Fund 365), the Capital Reserve Fund (Fund 450), the Small Projects Capital Projects Fund (Fund 460), the Sheriff's Department Special Revenue Fund (Fund 461), the Department of Aging Special Revenue Fund (Fund 532), and the Cannon Memorial Library Fund (Fund 534). Infrastructure and Asset Management - Offer for Purchase of Tax Foreclosure Property Kyle Bilafer, Infrastructure and Asset Management Director, reported tax foreclosure parcels that are not purchased through the courthouse auction have been sold using an online surplus property web service. One particular parcel, located at 9C2 Buick Avenue in Kannapolis, has recently received an offer to purchase independently of the web service for $3,500.00 from Josh Collins at Journey Investment Group, LLC. The property was most recently listed on the web service for a cost of $5,385.26 and was taken off the site on May 22, 2015 after being listed for several weeks. He advised this parcel . has spent a total of just under 300 days of actual auction time on the web service since it was initially posted on September 21, 2012. In order to accept this offer to purchase it is required to go through the standard upset bid process. He also responded to questions from the Board.