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March 15, 2010 (Regular Meeting) Page 1862
<br />THEREFORE, BE IT RESOLVED that the Cabarrus County Board of
<br />Commissioners hereby amends Resolution No. 2005-17 to replace fiscal
<br />management policies one through three as follows:
<br />1. Recurring, operational expenses of the County government
<br />will only be funded through recurring revenue sources;
<br />2. The County will maintain an undesignated fund balance equal
<br />to 15% of general fund expenditures; and
<br />3. Upon the completion of the Comprehensive Annual Financial
<br />Report, any undesignated fund balance above 15% will be
<br />transferred to the Capital Reserve Fund to reduce reliance
<br />on debt financing; or to the Self-Funded Hospitalization
<br />Fund, the Self-Funded Liability Fund or the Self-Funded
<br />Workers' Compensation Fund as required to maintain the
<br />integrity of those funds.
<br />4. Notwithstanding the requirements of items 1, 2 and 3 above,
<br />fund balance may be appropriated for any use in the general
<br />fund to overcome revenue shortfalls related to significant
<br />downturns in the economy.
<br />Adopted this the 15th day of March, 2010.
<br />/s/ H. Jay White, Sr.
<br />H. Jay White, Sr., Chairman
<br />Board of Commissioners
<br />ATTEST:
<br />/s/ Kay Honeycutt
<br />Kay Honeycutt, Clerk to the Board
<br />Date:2/22/2010 Amount: $2,000,000
<br />Dept. Head: Pamela S. Dubois Department: Finance
<br />^ Internal Transfer Within Department ^ Transfer Between Departments/Funds © Supplemental Request
<br />Purpose: Transfer funds from the General Fund to the Internal Service Funds pursuant to County
<br />policy that upon completion on the annual audit of the County finances, any undesignated fund
<br />balance above 15°s will be transferred to the capital reserve fund and /or the internal service
<br />funds. Exception requested to only transfer the amounts needed for the Internal service funds as
<br />the balance may be needed to balance the budget due to the economic situation.
<br />Account Number Account Name Approved Budget Inc Amount Dec Amount Revised Budget
<br />00161710-6901 Fund Balance Approp $1,915,915.21 $2,000,000.00 $3,915,415.21
<br />00191960-9734 Cont to Internal Serv $0.00 $2,000,000.00 $2,000,000.00
<br />60061916-6902 Cont from General Fd $0.00 $1,000,000.00 $1,000,000.00
<br />60091916-9651 Insurance and Settleme $0.00 $1,000,000.00 $1,000,000.00
<br />61061917-6902 ont from General Fd $0.00 $1,000,000.00 $1,000,000.00
<br />61091917-9651 Insurance and Settleme $0.00 $1,000,000.00 $1,000,000.00
<br />(G-4) BOC - Resolution Relating to the Amendment of Existing Consent
<br />Agreements to Allow Rendering of Voluntary Mitigation Payments (VMP) at
<br />Building Permitting for Lots Which No VMP Has Been Made
<br />John Day, County Manager, advised this issue arose during the Board's
<br />annual planning retreat and the resolution was drafted by the County
<br />Attorney.
<br />Richard Koch, County Attorney, reported: the resolution allows the
<br />Board to change its policy from requiring developers/builders, in compliance
<br />with the Adequate Public Facilities Ordinance in which they are required to
<br />make a voluntary mitigation payment (VMP) as part of a consent agreement, to
<br />make that payment at building permitting instead of at final platting; the
<br />resolution authorizes the County Manager to execute numerous amendments so
<br />that each one does not have to be brought back before the Board; the
<br />resolution allows the County Attorney to make the legal determination as to
<br />whether the amendment, as drafted, complies with this resolution and the
<br />Adequate Public Facilities Ordinance; the provision is set to expire on
<br />September 30, 2010 so that all amendments to consent agreements will
<br />automatically contain that provision; unless the Board extends that time
<br />period, the consent agreements will revert back to their original terms; and
<br />the resolution only applies to lots that are platted after the date of the
<br />resolution. He also pointed out the County has a software program, Accela,
<br />that tracks this information at final platting. The software will need to be
<br />reprogrammed so that it can track permitting and platting for consent
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