BC 2006 05 15 REGULAR - Laserfiche WebLink

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May 15, 2006 - Regular Meeting Page 608 vice Chairman Juba seconded the motion. There was a brief discussion on granting approval of the sale of the property contingent upon approval by WSACC, implementing an upset bid process and the subdivision review process. After discussion, the Board unanimously voted to table the consideration of an offer by Wayne Motley, Sr., to purchase 28 acres at Lake Howell until the June meeting. Recess of Meeting At 9:55 p.m., the Board took a short break. 10:09 p.m. The meeting reconvened at (G-9) Presentation of the Proposed FY 2007 Cabarrus County Budget John Day, County Manager, presented the proposed FY 2007 Cabarrus County budget and read the following budget message: May 15, 2006 Cabarrus County Board of Commissioners 65 Church Street, Southeast Concord, North Carolina 28025 Honorable Chairman and Board Members: I am pleased to present to you an annual budget with five-year financial and capital plans that holds the tax rate at a constant level of 63 cents and meets the current and projected obligations and demands of our growing county. While most of this document is devoted to the $168 million budget for the 2007 fiscal year, I believe the five-year financial and capital plans are far more important in terms of policy making. Those plans provide a sense of certainty to the community and to the other elected boards in the county, laying a foundation upon which they may build and success can be sustained. Building a Foundation The Board of Commissioners is the only local governing board elected on a county-wide basis. It has the unique statutory responsibility of raising and distributing the resources necessary for other boards, both elected and appointed, to provide the services for which they are responsible. In a very real sense, then, the Board of Commissioners really does build the "community foundation." Clearly, the quality of structure built upon it sustained over time. It end, our county-built components. the foundation will affect whether the is successfully constructed and can be must be solid and complete. Toward that community foundation consists of three 1. Capital Improvement Plan The first component is the $347 million, five-year Capital Improvement Program (CIP). It is fully funded by the revenues from a 63 cents property tax rate, sales taxes, the NC Education Lottery and debt-financing instruments. More than $59 million of that total is funded on a pay-as-go basis. In addition to the issuance of $48 million in general obligation bonds approved in 2004 and spending. $8.5 million in cash (both to complete several schools already under construction) the CIP (found on page F-l) includes many other important projects. A partial list follows: Education . 4 new schools . Renovations or expansions of 4 existing schools . A new school bus maintenance facility . A new information technology facility for Cabarrus County Schools