BC 2015 10 19 Regular Meeting - Laserfiche WebLink

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October 19, 2015 (Regular Meeting) Page 2565 Purpose: To allocate additional capital funds for the welding project at AL Brown High School resulting from evaluation of the drawings by NC Department of Insurance, County Building Inspections. and the Kannanolis Fire Department. Account Number Account Name Approved Budget Inc Amount I Dec Amount Revised Budget 00199110 -9975 COPS Interest Schools $5,751,949.00 $34,997.001 1 $150,000.00 $5,601,949.00 00197230- 9702 -FMD KCS Capital Outlay $367,000.00 $150,000,001 $0.001 1 $517,000.00 (F--6) Planning and Development - Project Ordinance Update and Associated_ Budget Amendment Cabarrus County Community Development received a pay off on a deed of trust on a CDBG housing rehabilitation project. Per the grant requirements, payoffs are considered program income and must be placed back into the program to fund additional eligible projects. Staff is planning to use these funds for urgent repair projects. Urgent repair is a critical need in Cabarrus County and this type of funding is not largely available. UPON MOTION of Commissioner Honeycutt, seconded by Commissioner Mynatt and unanimously carried, the Board adopted the revised project ordinance and associated budget amendment. Date: 9/22/2015 Amount: $34, 997. 00 Dept. Head: Suzanne Burgess Department; Finance ❑ Internal Transfer Within Department ❑ Transfer Between Departments /Funds Q Supplemental Request Purpose: To budget additional revenues and expenditures for future qualifying CDBG projects. These additional funds are the remaining loan balance and were received from a home owner to satisfy the balance of a deferred loan. The balance was due because the property was no longer the primary residence of the home owner due to sale, transfer or death. A revised corresponding special ravanua nrniert nrriinanre is recn:ested to be annroved by the Board for this fund. Account Number Account Name Approved Budgetl Inc Amount I Dec Amount IRevised Budget 41063660 -6606 -2010 Program Fees I $0.00 $34,997.001 $0.001 $34,997.00 41093660- 9383 -2010 Sub - Contractor 1 $0.001 $34,997.0C1 $0.001 $34,997.00 Ordinance No. 2015 -40 CABARRUS COUNTY SPECIAL REVENUE PROJECT ORDINANCE BE IT ORDAINED, by the Board of County Commissioners of the County of Cabarrus, North Carolina, that, pursuant to Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the following special revenue project ordinance is hereby adopted: Section 1. The projects authorized is for the Grant Projects for the purpose of receiving and disbursing funds as directed by Home Program Grant and the Department of Commerce. The projects are referenced in Section 3. Section 2. The officers of this unit are hereby directed to proceed within the terms of the Generally Accepted Accounting Principles (GAAP), the grant terms, the rules and regulations of the Department of Commerce and the budget contained herein. Section 3. The following budgeted amounts are appropriated for the projects: CDBG: Sub - Contractor Home 2011: Sub - Contractor Consultants Home 2012: Sub- Contractor Consultants Home 2013: Sub - Contractor Consultants Total 34, 997 173,881 8,115 117,841 5,570 117,345 5,541 463,290 Section 4. The following budgeted revenues are anticipated to be available to complete these projects.