BC 2014 01 30 Recessed Meeting - Laserfiche WebLink

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January 30, 2014 (Recessed Meeting) Page 1905 Commissioner Morris expressed his intent to vote against the motion. Following a lengthy discussion, Chairman Poole restated the motion. She also expressed her intent to vote for the motion. During this time, Vice Chairman Burrage left the room. After Vice Chairman Burrage returned to the meeting, Chairman Poole repeated the motion on the table. Following a brief discussion, the MOTION carried with Chairman Poole, Vice Chairman Burrage and Commissioners Measmer and Oesterreich voting for and Commissioner Morris voting against. A brief discussion ensued. Date: 1/31/2014 Amount: $30,986,500.00 Dept. Head: Susan Fearrington, Asst. Finance Director Department: Finance - Schools const. Fund 7 Internal Transfer Within Department D Transfer Between Departments /Funds 0 Supplemental Request Purpose: This budget amendment transfers $1,500,000 of Land Acquisition funds to the School Capital Project Fund for a future Elementary School in the Northwest area of the County. Based on the County's 15% Fund Balance Policy a $29,486,500 contribution will be made to the Capital Reserve Fund. of the $29,486,500 transfer, $16,000,000 will be transferred to the School Construction Fund to build a new Elementary School in the Northwest area of the County and $2,000,000 will be transferred to the School Construction Fund for the Engineering /Evaluation expenditures for the replacement of Mount Pleasant Middle School. Account Number Account Name Approved Budget Inc Amount Dec Amount Revised Budget 00197210 -9801 Land Acquisition $1 $1,500,000.00 $0.00 00191960 -9708 Cont to Cap Proj Fd $1,343,000.00 $1,500,000.00 $2,843,000.00 00161960 -6901 Fund Balance Approp $20,000.00 $29,486,500.00 $29,506,500.00 00191960 -9708 Cont to Cap Proj Fd $2,843,000.00 $29,486,500.00 $32,329,500.00 45067220 -6902 Cont from General Fund $10,533,242.91 $29,486,500.00 $40,019,742.91 45097220 -9708 Cont to Cap Proj Fd $8,450,205.56 $29,486,500.00 $37,936,705.56 36467342 -6902 Cont fr Gen Fd -NW Elem $0.00 $1 $1,500,000.00 36467342 -6921 Contrib from CRF -NW E1 $0.00 $16,000,000.00 $16,000,000.00 36497342 -9620 Construction -NW Elem $0.00 $11,195,400.00 $11,195,400.00 36497342 -9649 Site Development -NW El $0.00 $1,300,000.00 $1,300,000.00 36497342 -9803 Utility Extens -NW E1 $0.00 $545,000.00 $545,000.00 36497342 -9802 Road Construction - NW E $0.00 $450,000.00 $450 36497342 -9401 Rental -NE Elem $0.00 $50,000.00 $50,000.00 36497342 -9801 Land -NW Elem $0.00 $600,000.00 $600,000.00 36497342 -9485 Administration -NW Flem $0.00 $60,000.00 $60,000.00 36497342 -9606 Engineering -NW Elem $0.00 $65,000.00 $65,000.00 36497342 -9607 Architect -NW Elem $0.00 $866,000.09 $866,000.00 36497342 -9660 Contingency -NW Elem $0.00 $343,600.00 $343,600.00 36497342 -9726 Start Up Expenses -NW E $0.00 $300,000.00 $300,000.00 36497342 -9860 Equip & Furn -NW Elem $0.00 $825,000.00 $825,000.00 36497342 -9862 Technology -NW Elem $0.00 $600,000.00 $600,000.00 36497342 -9864 Technology Infra -NW E1 $0.00 $300,000.00 $300,000.00 36467332 -6921 JContrib from CRF -MPMS $0.00 $2,000,000.00 $2,000,000.00 36497332 -9606 Engineering -MPMS $0.001 $2,000,000.00 $2,000,000.00 Ordinance No. 2014 -02 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.