BC 2014 11 17 Regular Meeting - Laserfiche WebLink

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November 17, 2014 (Regular Meeting) Page 2206 NOW, THEREFORE, the Board of Commissioners for Cabarrus County meeting in regular session in Concord, North Carolina, on November 17, 2014, does the following: BE IT RESOLVER BY THE BOARD OF COMMISSIONERS FOR CABARRUS COUNTY: 1. The Board hereby certifies and declares the results of the referendum held on November 4, 2014, with respect to the proposed $9,000,000 General Obligation Community College Bonds of Cabarrus County, to be 30,699 votes "For" approval of the Bond Order and 17,316 votes "Against" approval of the Bond Order. 2. The affirmative votes of a majority of those voting having been received, the Board hereby certifies and declares that the Bond Order entitled "ORDER AUTHORIZING $9,000,000 GENERAL OBLIGATION COMMUNITY COLLEGE BONDS" is now in effect. 3. The Clerk to this Board shall cause the statement attached as Exhibit A to be published in The Independent Tribune and filed in the Clerk's office. 4. This resolution shall take effect immediately. Vice Chairman Burrage moved the passage of the foregoing resolution, Commissioner Morris seconded the motion and the resolution was passed by the following vote: Ayes: Chairman Poole, Vice Chairman Burrage and Commissioners Measmer, Morris and Oesterreich Nays: None Not Voting: None Note: The authorized publication of the results pursuant to NCGS 159 - 61(e) were published in The Independent Tribune on Friday, November 21, 2014. (G -3) DOC - Transfer of Allocation of Excess Fund Balance for FY14 to the New Mount Pleasant Middle School Pam Dubois, Deputy County Manager, stated this agenda item was prepared as requested by Commissioner Oesterreich at the November work session to transfer the excess fund balance prior to the audit being completed. She stated the reason the audit is being delayed this year is because the State of North Carolina has not been able to produce the Medicaid numbers for the single audit. She advised, at this point in time, the audit has not been completed. Answers to questions raised at the work session in reference to the $1,500,000 and the $1,319,000.00 transferred for the RCCC Cosmetology project and Kannapolis Middle School (architectural and engineering fees) are included in the Agenda. Ms. Dubois clarified those actions were not in violation of the fund balance policy. Susan Fearrington, Finance Director, stated she is still waiting on numbers from the state. She contacted Martin Starnes and Associates, CPAs, P.A., the auditors, and has been advised they have not yet received the numbers from the state. Ms. Fearrington advised, after speaking with the Local Government Commission (LGC) earlier in the day, she had been told that confirmation from DHHS (Department of Health and Human Services) might be available after Wednesday of this week. However, she cautioned, estimated completion dates have been pushed out repeatedly. She stated once the confirmations are available, staff will complete the schedule of our federal and state awards and our notes to the financial statements which will complete the CAFR (Comprehensive Annual Financial Report). After the auditors receive the same confirmations, they will complete their compliance testing, complete the compliance report and will submit their opinion on the CAPR. At this point the report will be ready to be submitted to the LGC. She further stated if the information is delayed longer, the report can be split into two reports and submitted separately. She said the auditors recommended waiting until after the Thanksgiving holiday before considering the option of submitting two reports. Commissioner besterreich MOVED to allocate $8 million from the General Fund to fund the Mount Pleasant Middle School, and if there are insufficient funds in the General Fund, then to use whatever is needed out of the additional Contingency to make up the difference.