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June 20, 2011 (Regular Meeting) Page 474
<br />for administrative fees and hospital claims estimated to be expended for the
<br />remainder of the year in the Self Insured Hospital Fund.
<br />UPON MOTION of Commissioner Carruth, seconded by Commissioner Measmer
<br />and unanimously carried, the Board adopted the following budget amendment:
<br />Date:5 /2/2011 Amount:$1,442,439
<br />Dept. Head:Shelley Farris, Acctg. Supervisor Department:Finance
<br />❑ Internal Transfer Within Department ❑ Transfer Between Departments /Funds Q Supplemental Request
<br />Purpose: This budget amendment is to amend revenues for Workers Compensation premiums that will
<br />not be collected and use Fund Balance Appropriated as the revenue source. A one -time transfer
<br />from the General Fund is being made to this fund in the amount of $570,000 in May for this. In
<br />addition, Fund Balance is needed for administrative fees and hospital claims estimated to be
<br />expensed for the remainder of the Vear in the Self Insured Hospital Fund.
<br />Account Number
<br />Account Name
<br />Approved Budget
<br />Inc Amount
<br />Dec Amount
<br />Revised Budget
<br />60061916 -6661
<br />Insurance Premiums
<br />$572,000.00
<br />$1,764,223.32
<br />$572,000.00
<br />$0.00
<br />60061916 -6701
<br />Interest Earnings
<br />$3,000.00
<br />$5,046.00
<br />$1,764,223.32
<br />$8,046.00
<br />60061916 -6901
<br />Fund Balance Approp
<br />$0.00
<br />$566,954.00
<br />$566,954.00
<br />61061917 -6701
<br />Interest Earnings
<br />$5,000.00
<br />$11,105.00
<br />$150,771.98
<br />$16,105.00
<br />61061917 -6804
<br />Insurance Refunds
<br />$0.00
<br />$121,156.00
<br />$1,914,995.30
<br />$121,156.00
<br />61061917 -6901
<br />Fund Balance Approp
<br />$0.00
<br />$870,439.00
<br />$870,439.00
<br />61091917 -9412
<br />Power
<br />$2,500.00
<br />$2,700.00
<br />$5,200.00
<br />61091917 -9485
<br />Admin Fees
<br />$1,020,000.00
<br />$100,000.00
<br />$1,120,000.00
<br />61091917 -9645
<br />Hospital Claims
<br />$5,500,000.00
<br />$900,000.00
<br />$6,400,000.00
<br />(F -8) Finance - Project Ordinance Updates and Related Budget Amendments
<br />The Governmental Accounting Standards Board (GASB) issued GASB
<br />Statement No. 54 entitled Fund Balance Reporting and Governmental Fund Type
<br />Definitions. GASB No. 54 will be effective for Cabarrus County on June 30,
<br />2011. A summary memo has been provided for guidance on the new statement.
<br />Based on the new statement and review of all Special Revenue and
<br />Capital Projects Funds 1) five of the County's Special Revenue funds will now
<br />be changed to Capital Project Funds 2) twenty project ordinances have been
<br />updated for consistency between all ordinances, and 3) two budget amendments
<br />have been prepared updating revenue and expenditure accounts where needed to
<br />match the project ordinances.
<br />UPON MOTION of Commissioner Carruth, seconded by Commissioner Measmer
<br />and unanimously carried, the Board adopted the following budget amendments
<br />and ordinances:
<br />Date :5 /26/2011 Amount:$1,914,995.3
<br />Dept. Head:Pamela S. Dubois Department:Capital Projects Funds
<br />© Internal Transfer within Department ❑ Transfer Between Departments /Funds ❑ Supplemental Request
<br />Purpose: To correct two budget amendments for the transfer of excess funds after the completion
<br />of projects from the Capital Reserve Fund to the General Fund to comply with Current Project
<br />Ordinances.
<br />Account Number
<br />Account Name
<br />Approved Budget
<br />Inc Amount
<br />Dec Amount
<br />Revised Budget
<br />34391110 -9704
<br />Cent to General Fund
<br />$0.00
<br />$1,764,223.32
<br />$1,764,223.32
<br />34391110 -9707
<br />Cont to Cap Reserve
<br />$1,764,223.32
<br />$1,190.00
<br />$1,764,223.32
<br />$0.00
<br />36697325 -9704
<br />Cent to General Fund
<br />$0.00
<br />$150,771.98
<br />$150,771.98
<br />36697325 -9707
<br />Cent to Cap Reserve
<br />$150,771.98
<br />$1,660.40
<br />$150,771.98
<br />$0.00
<br />45097220 -9704
<br />Totall
<br />$1,914,995.30
<br />$1,914,995.30
<br />$1,914,995.30
<br />$1,914,995.30
<br />Date :5 /23/2011 Amount:$667,244.60
<br />Dept. Head:Shelley Farris, Acctg. Supervisor Department:Finance
<br />❑ Internal Transfer Within Department ❑ Transfer Between Departments /Funds Q Supplemental Request
<br />Purpose: This budget amendment is to make adjustments for year -end revenues and expenditures for
<br />the Special Revenue Funds. This budget amendment is appropriating revenue for interest income,
<br />program fees and contributions and private donations that have already been collected through
<br />April as well as what is anticipated to be collected for the remainder of the fiscal year.
<br />Adjustments are being made to the Capital Reserve Fund 450, due to Courthouse renovation coming
<br />in under budget and the full contribution not being needed. Also, adjustments are being made to
<br />this fund to close out two Dark Dro�ects.
<br />Account
<br />Number
<br />Account
<br />Name
<br />Approved
<br />Budget
<br />Inc
<br />Amount
<br />Dec
<br />Amount
<br />Revised
<br />Budget
<br />45164515 -6701
<br />Interest Earnings
<br />$94,109.00
<br />$1,190.00
<br />$95,299.00
<br />45194515 -9830
<br />Other Improvements
<br />$619,030.00
<br />$1,190.00
<br />$620,220.00
<br />45067220 -6701
<br />Interest Earnings
<br />$2,237,081.00
<br />$33,650.00
<br />$2,270,731.00
<br />45067220 -6910
<br />Cent from Cap Projects
<br />$2,152,689.87
<br />$1,660.40
<br />$2,154,350.27
<br />45097220 -9704
<br />Cont to Gen Fund
<br />$3,983,346.24
<br />$22,994.96
<br />$3,960,351.28
<br />45097220 -9821
<br />Building & Renovations
<br />$8,118,051.13
<br />$58,305.36
<br />$8,176,356.49
<br />46061610- 6501 -0258
<br />Register of Deeds Fees
<br />$707,389.00
<br />$95,797.00
<br />$803,186.00
<br />46061610 -6701
<br />Interest Earnings
<br />$36,655.00
<br />$648.00
<br />$37,303.00
<br />46091610 -9407
<br />[Auto & Enhancement
<br />1 $821,548.001
<br />$96,445.001
<br />1 $917,993.00
<br />
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