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January 22, 2008 (Regular Meeting)
<br />Page 699
<br />• Propose a joint meeting of officials from Cabarrus County,
<br />Concord, Kannapolis, Midland, Mount Pleasant- and Harrisburg to
<br />discuss the current and future public transportation needs of the
<br />county.
<br />• Increase the size of the fleet by purchasing 5 LTV's (Length Type
<br />Vehicle) ($91,764.00 X 5 = $208,820.00).
<br />• Add four operators $31,530.00 X 4 = $126,123.00.
<br />• Add one Demand Response position $34,198.00.
<br />• Total county contribution $369,091.00.
<br />• CCTS will be addressing these items in the upcoming budget
<br />process.
<br />Mr. Bass also responded to several questions from the Board.
<br />(G-8) Finance Department - Budget Amendment (Completion of Certificates of
<br />Participation Series 2003 - $46,423,969.00
<br />Note: Consent Item F-19 was removed from the Consent Agenda for
<br />discussion at the request of Commissioner Privette.
<br />Pam Dubois, Deputy County Manager, presented a request to close-out the
<br />COPS 2003 fund and eliminate it from the County's financial software. She
<br />explained the 2003 Certificates of Participation (COPS) were issued to build
<br />several schools; the schools have been constructed; and the project ordinance
<br />did not provide an avenue to close-out the fund. She further explained, the
<br />budget revision is for $98 million which requires Board approval.
<br />Commissioner Privette read Article 5, Section 9 (2) of the North
<br />Carolina Constitution and stated his intent to vote against the budget
<br />amendment.
<br />There was a brief discussion and Ms. Dubois responded to questions from
<br />the Board.
<br />UPON MOTION of Vice Chairman Juba, seconded by Commissioner Mynatt with
<br />Chairman White, Vice Chairman Juba and Commissioner Mynatt voting for and
<br />Commissioner Privette voting against, the Board adopted the following budget
<br />amendment:
<br />BUDGET REVISION/AMENDMENT REQUEST
<br />DEPARTMENT OF FINANCE/COPS SERIES 2003
<br />AMOUNT: $48,423,969.00
<br />TYPE OF ADJUSTMENT: Supplemental Request
<br />PURPOSE OF REQUEST: The Certificates of Participation Series 2003 Capital
<br />Projects have been completed. This budget request is done for the formality
<br />of closing the fund in our financial software. The purpose of the
<br />Certificates of Participation Series 2003 was to construct the Pitts
<br />Elementary, Bethel Elementary and Kannapolis Middle Schools and to renovate
<br />portions of Shady Brook Elementary, Fred L. Wilson Elementary and A.L. Brown
<br />High School.
<br /> Present
<br />Account No. Approved Budget Increase Decrease Revised Budget
<br />36260000-6906 $645,957.00 $695,957.00 $0.00
<br />Sales Tax Re fund
<br />36260000-6705 $579,260.00 $574,260.00 $0.00
<br />Interest on Investment COPS
<br />36260000-6913 $820,000.00 $820,000.00 $0.00
<br />Contribution from Kannapolis City School
<br />36260000-6918 $92,217,998.00 $92,217,498.00 $0.00
<br />Proceeds from COPS
<br />36260000-6921 $34,500.00 $34,500.00 $0.00
<br />Contribution from Capital Reserve
<br />36260000-6929 $9,131,759.00 $9,131,759.00 $0.00
<br />Contribution from Rowan County
<br />36290000-9609 $768,108.00 $768,108.00 $0.00
<br />Legal Fees
<br />36290000-9709 $1,651,559.00 $1,651,559.00 $0.00
<br />Contribution to General Fund
<br />36290000-9708-7 9 $307,412.00 $307,912.00 $0.00
<br />Contribution to Capital Projects Fund
<br />36297321-9606 $86,167.00 $86,167.00 $0.00
<br />Engineers - Pitts
<br />36297321-9607 $378,195.00 $378,195.00 $0.00
<br />Architects - Pitts
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