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June 15, 2009 (Regular Meeting) Page 1438
<br />Attest:
<br />/s/ Kay Honeycutt
<br />Clerk, Board of Commissioners
<br />Cabarrus County, North Carolina
<br />(F-3) Finance - Budget Amendment (Justice Center Debt Payment - $404,961.00)
<br />In the FY 2009 budget, $409,961.00 of the $1,404,961.00 interest
<br />payment on the Housing Unit debt was planned to be paid for by the interest
<br />earning from the Justice Center Construction Fund. The $404,961.00 needs to
<br />be transferred from the Construction Fund to the General Fund for the
<br />accounting of the full interest payment which is recorded in the Debt Service
<br />Budget. The following budget amendment properly records this transaction.
<br />UPON MOTION of Commissioner Carruth, seconded by Commissioner Poole and
<br />unanimously carried, the Board adopted the following budget amendment:
<br />Date:5/26/2009 Amount: $909,961
<br />Dept. Head: Pamela S. Dubois Department: Finance
<br />^ Internal Transfer Within Department Q Transfer Between Departments/Funds ^ Supplemental Request
<br />Purpose: To transfer interest earnings in the Justice Center Construction Fund to aid in the
<br />.., e.e~t aohr ,. onr F.~r rhP Cnnet ru rrinn Prniart in the neneral fund.
<br />Account
<br />Number Account
<br />Name Approved
<br />Budget Increase
<br />Amount Decrease
<br />Amount Revised
<br />Budget
<br />39262132-6705 Interest on Investment $0 $909,961 $909,961
<br />34292132-9709 Contribution to Genera $0 $909,961 $909,961
<br />00199110-9978 COPS Interest Housing $1,000,000 $909,961 51,909,961
<br />00169110-6920 Cont from COPS SO $409,961 $409,961
<br />Finance - Emer
<br />~et Amendment
<br />Revenue Fund
<br />UPON MOTION of Commissioner Carruth, seconded by Commissioner Poole and
<br />unanimously carried, the Board granted authorization to transfer the
<br />remaining fund balance and close the ETS 911 Fund 900 into the new ETS 911
<br />Fund 901 and adopted the following budget amendment:
<br />Date:5/8/2009 Amount:S138, 209
<br />Dept. Head: Pam Dubois Department: Deputy County Manager
<br />^ Internal Transfer Within Department ^ Transfer Between Departments/Funds Q Supplemental Request
<br />Purpose: This budget amendment is to appropriate additional revenue to be received for May and
<br />June from the NC 911 Board as well as appropriate Fund Balance to cover the cost of the licensing
<br />agreement with Sungard, the Positron project, and the monthly telephone expenses with Windstream
<br />that relate to 911.
<br />Account Number Account Name Approved Budget increase Amount Decrease Amount Revised Budget
<br />90162790-6651 Telephone Sub Fees $610,000 $73,566 $683,566
<br />90192790-9995 Purchased Services $592,900 $54,776 $697,176
<br />90192740-9570 Service Contracts $0 $91,130 591,130
<br />90192790-9709 Contribution to GF 529,920 $42,303 $72,223
<br />90162790-6901 FB Appropriated SO 569,693 $64,693
<br />- Rnrirtc}- Amon AmanY -
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<br />to Capital Reserve
<br />Upon completion of the annual audit of the County finances, any
<br />undesignated fund balance above 15 percent will be transferred to the capital
<br />reserve fund, consistent with board policy. It will be used to reduce
<br />reliance on debt financing for capital projects, thereby saving taxpayers
<br />money by reducing interest payments on financing instruments. Normally, this
<br />transfer is made in the fall of the fiscal year; however, due to economic
<br />conditions, the request was delayed until the end of the fiscal year.
<br />UPON MOTION of Commissioner Carruth, seconded by Commissioner Poole and
<br />unanimously carried, the Board adopted the following budget amendment:
<br />Date: 6/15/2009 Amount: $9, 307,062
<br />Dept. Head: Pam Dubois Department: Finance
<br />^ Internal Transfer Within Department ^ Transfer Between Departments/Funds Q Supplemental Request
<br />Purpose: Transfer funds from the General Fund to the Capital Reserve Fund pursuant to County
<br />policy that upon completion of the annual audit of the County finances, any undesignated fund
<br />M~t~r~~ ahn..n t5a will he transferred to the capital reserve fund.
<br />Account Number Account Name Approved Budget Inc Amount Dec Amount Revised Budget
<br />00161710-6901 Fund Balance Approp. $1,796,799.00 $9,307,062.00 $6,053,806.00
<br />00191960-9707 Cont. to Capital Rsv. $7,695,594.00 $4,307,062.00 $12,202,656.00
<br />95067220-6902 Cont. from General Fun $90,401,239.00 $9,307,062.00 $99,708,301.00
<br />45097220-9821 Building and Renov. $5,259,823.56 $9,307,062.00 59,566,885.56
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