BC 2013 04 15 Regular Meeting - Laserfiche WebLink

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April 15, 2013 (Regular Meeting) Page 1503 UPON MOTION of Commissioner Burrage, seconded by Vice Chairman White and unanimously carried, the Board adopted the Capital Projects Ordinance and related budget amendment. Date: 3/19/2013 Amount:$9,740 Dept. Head: Susan Fearrington, Asst. Finance Director Department: Finance- Cannon Mem Library Fund ❑ Internal Transfer Within Department ❑ Transfer Between Departments /Funds 0 Supplemental Request Purpose: Architect funds in the amount of $9,740 are recorded in the General Fund. The funds will not be spent in the current fiscal year. This budget amendment records the transfer of library architect funds to the Cannon Memorial Library Capital Projects Fund which is a multi -year fund. The $9,740 architect balance will remain in the Capital Projects Fund until needed for the Mt. Pleasant Library Expansion Project. Private funds were donated to the County for the design of the Mt. Pleasant Library Expansion. Account Number Account Name Approved Budget Inc Amount Dec Amount Revised Budget 00198240 -9607 Architect $9,740.00 Interest on Investments - Trust $9,740.00 $0.00 00191960 -9708 Cent to Cap Proj Fund $420,000.00 $9,740.00 $ $429,740.00 $0.00 53468240 -6902 Cent from Gen Fund $0.00 $9,740.00 $9,740.00 53498240 -9607 JArchitect $0.001 $9,740.001 1 $9,740.00 Ordinance No. 2013 -07 CA13ARRUS COUNTY CANNON MEMORIAL LIBRARY CAPITAL 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 capital project ordinance is hereby adopted: Section 1. The project authorized is for the purpose of collecting and appropriating contributions and private donations received specifically for the Cabarrus County Cannon Memorial Library System. Section 2. The officers of this unit are hereby directed to proceed with this project within the terms of the Generally Accepted Accounting Principles (GAAP) and the budget contained herein. Section 3. The following budgeted amounts are appropriated for the projects: Bank Service Charges $ 3,585 Renovations & Upfit at Concord Branch $ 954,007 Other Renovations & Improvements $ 64,307 Total $ 1,021,899 Section 4. The following revenues are anticipated to be available to complete this project: Contributions and Private Donations $ 752,290 Contributions and Donations - Flowe Trust $ 11,332 Interest on Investments $ 153,475 Interest on Investments - Trust $ 44,876 Contribution from General Fund $ 9,740 Fund Balance Appropriated $ 50,186 Total $ 1,021,899 Section 5. The Finance Officer is hereby directed to maintain within the Capital Projects Fund sufficient detailed accounting records. Section 6. Funds may be advanced from the General Fund for the purpose of making payments as due. Reimbursement to the General Fund should be made in an orderly and timely manner. Section 7. The Finance Officer is directed to report, at the request of the Board, on the financial status of each project element in Section 4 and on the total revenues received or claimed. Section 8. Copies of this project ordinance shall be furnished to the Clerk to the Governing Board, and to the Budget