BC 2008 02 18 Regular - Laserfiche WebLink

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February 18, 2008 (Regular Meeting) Page 717 (F-S) Communications fi Outreach - Acceptance o£ a-NC Capital Grant Award S Adoption of Related Budget Amendment In November, the Board approved a grant application and matching funds for Communications and Outreach to apply for funding from the e-NC Authority to purchase robotic camera controls, a broadcast system and an editing system. The County has received notification of the $25,000.00 grant award. UPON MOTION of Vice Chairman Juba, seconded by and unanimously carried, the Board accepted the authorized the County Manager to execute all grant including the agreement between Cabarrus County Development Center and Cabarrus County; and adopted amendment: BUDGET REVISION/AMENDMENT REQUEST Commissioner Privette e-NC Capital Grant, related documentation the Rural Economic the following budget DEPARTMENT OF COMMUNICATIONS AND OUTREACH AMOUNT: $50,000.00 TYPE OF ADJUSTMENT: Supplemental Request PURPOSE OF REQUEST: Grant award from the Rural Development Center for PEG Channel enhancements. The County's match will come from Board's contingency. Present Account No. Approved Budget Increase 00191910-9660 $399,977.00 Contingency 00161220-6367-PEG $0.00 $25,000.00 PEG Grant Revenue 00191220-9862-PEG $0.00 $50,000.00 Communications and Outreach - Technology Decrease Revised Budget $25,000.00 $374,977.00 $25,000.00 $50,000.00 (F-9) Finance - Budget Amendment (Interest Payment on Certificates of Participation (COPS) 2008A - $593,296.00) UPON MOTION of Vice Chairman Juba, seconded by Commissioner Privette and unanimously carried, the Board adopted the following budget amendment: BUDGET REVISION/AMENDMENT REQUEST DEPARTMENT OF DEBT SERVICE AMOUNT: $593,296.00 TYPE OF ADJUSTMENT: Supplemental Request PURPOSE OF REQUEST: Cabarrus County issued Certificates of Participation for the construction of a new High School and various other school projects along with a refinancing of the Installment Payments Revenue Bonds from 1999. At the request of the insurer of the financing/refinancing deal, the debt payments dates are scheduled for June 1st and December 1st annually. Therefore, an interest payment is needed to be budgeted for the 2008A COPS in the amount of $689,265.00. With the savings from the refinancing of the IPRB debt, $95,969.00 will be applied towards this interest payment reducing the overall request to $593,296.00. Present Account No. Approved Budget Increase Decrease Revised Budget 00161710-6701 $1,500,000.00 $593,296.00 $2,093,296.00 Interest on Investments 00199110-9975 $3,556,086.00 $593,296.00 $9,149,382.00 COPS Interest - Schools (F-10) Finance - Budget Amendment (Transfer 911 Landline Fees Fund Balance to General Fund - $1,779,119.00) Effective January 1, 2006, all 911 fees are being collected by the NC911 Board for disbursement instead of counties directly collecting the fees. The fund balance of the 911 landline accounts accumulated over the previous years is being given to the counties to use in their General Fund for any lawful purpose. As of December 31, 2007, the 911 fund balance totaled $1,779,119.00, and a budget amendment is provided to transfer the funds as specified. It is recommended the funds be transferred to the Capital Projects Fund to pay for emergency communications projects and radio replacements. UPON MOTION of Vice Chairman Juba, seconded by Commissioner Privette and unanimously carried, the Board adopted the following budget amendment: BUDGET REVISION/AMENDMENT REQUEST