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August 17, 2009 (Regular Meeting) Page 1531
<br />Cabarrus County is preparing to close out the construction fund for
<br />Schools and RCCC Building 3000. The budget amendment includes: (1) transfer
<br />of funds to cover prior approved projects, (2) new request of remaining funds
<br />totaling $198,961.67 to be designated for technology purchases for schools
<br />and (3) transfer $280,042.86 to the Capital Reserve fund for future RCCC
<br />projects per request from Dr. Spalding. For every project funded with State
<br />Bond proceeds, the County puts up a dollar for every 1.9 dollars of state
<br />funds.
<br />UPON MOTION of Commissioner Carruth, seconded by Commissioner Poole and
<br />unanimously carried, the Board adopted the following budget amendment:
<br />Date: B/3/2009 Amount:$416, 972.91
<br />Dept. Head: Pamela S. Dubois Department: Fi Hance
<br />© Internal Transfer Within Department ^ Transfer Between Departments/Funds ~ Supplemental Request
<br />Purpose: To re-allocate unexpended funds for approved projects by BOE and BOC. Transfer balance
<br />of funds remaining for RCCC project to capital reserve fund for future projects as requested by
<br />n.- c..~lr1; o,. arrr
<br />ccount Number ccount Name pproved Budget lnc Amount Dec Amount Revised Budget
<br />36397306-9860 Equipment & Furn $396,863.01 $3,147.90 5350,010.91
<br />36397323-9606 Engineers $175,922.50 5121.50 $175,301.00
<br />36397323-9607 rchitects $1,939,727.00 $5,919.50 $1,928,607.50
<br />36397323-9801 Land Acquisition $3,298,189.00 $0.23 $3,298,183.77
<br />36397323-9820 Construction $31,807,307.11 $112,903.30 $31,699,903.81
<br />36397323-9860 Equipment s Furn $2,788,955.11 $29,159.51 $2,759,800.60
<br />36397324-9620 Construction $11,963,727.63 529,149.00 $11,939,578.63
<br />36397325-9820 Construction $10,932,999.29 $12,860.00 510,995,804.29
<br />36397326-9820 Construction $10,770,534.26 $12,859.12 $10,783,393.38
<br />36397901-9606 Engineers $10,527.00 50.25 $10,526.75
<br />36397901-9607 rchitects $60,369.00 $0.27 $60,368.73
<br />36397901-9820 Construction 5621,810.00 $611.09 $621,198.96
<br />36397401-9860 Equipment & Furn 58,690.00 50.98 58,690.98
<br />36397402-9820 Construction $280,895.00 $0.70 $280,899.30
<br />36397905-9899 School Site Developmen $211,832.00 50.10 5211,832.10
<br />36397905-9860 Equipment 5 Furn 576,111.00 50.10 $76,110.90
<br />36397907-9607 rchitects 5188,267.00 50.29 $168,266.76
<br />36397907-9820 Construction $2,992,357.00 50.99 $2,992,357.94
<br />36397908-9607 rchitects 562,383.00 50.70 $62,382.30
<br />36397908-9820 Construction 5830,751.00 50.70 5830,751.70
<br />36397909-9606 Engineers $9,741.00 50.50 $9,790.50
<br />36397909-9607 Architects $69,137.00 50.59 $64,136.96
<br />36397409-9820 Construction $1,183,913.00 $1.17 $1,183,911.83
<br />36397909-9860 Equipment 5 Furn $16,662.00 $2.21 $16,869.21
<br />36397308-9860 Equipment & Furn $330,819.33 530.43 $330,894.76
<br />36390000-9662 Technology $0.00 $148,961.67 $198,961.67
<br />36397502-9820 Construction $3,665,191.00 $239,108.86 $3,926,032.19
<br />36397502-9707 Cont to Capital reserv 50.00 $280,092.86 $280,092.86
<br />95067220-6910 Cont from Capital Proj $0.00 $280,092.86 $280,092.86
<br />95097220-9719 RCCC 50.00 $280,092.86 5280,092.86
<br />7) Finance - Approval o£ Project Applications for Potential Debt Issuance
<br />The QSCB's (Qualified School Construction Bonds) program was
<br />established as part of the American Recovery and Reinvestment Act of 2009.
<br />This funding mechanism offers interest-free financing for eligible school
<br />construction projects. Both school districts have prepared applications for
<br />qualified projects and seek approval of the financings from the County Board
<br />of Commissioners.
<br />CABARRUS COUNTY BOARD OF EDUCATION
<br />RESOLUTION APPROVING THE APPLICATION FOR QUALIFIED SCHOOL
<br />CONSTRUCTION BONDS
<br />July 30, 2009
<br />Exhibit A
<br />Option 1
<br />Location Description
<br />New Northwest Land acquisition, Architect/Engineer
<br />Approximate
<br />Cost
<br />$21,442,647
<br />
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