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<br />June 7, 2005 - Recessed Meeting
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<br />projections for Cabarrus County and highlighted several academic performance
<br />statistics such as SAT scores and graduation rates. The total local current
<br />expense increase requested was $2,947,000.00 and consisted of the following
<br />items: Continuation Operational Items $843,000.00; Charter Schools
<br />$164,000.00; New School Operating Costs $968,000.00; and Expansion
<br />Operational Items (Year One of 5 Year Budget) $972,000.00. The total
<br />Consolidated Facilities and Operations increase requested was $277,000.00 and
<br />the total Capital Outlay funding requested was $2,109,000.00.
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<br />Pam Dubois, Deputy County Manager, reported the Manager's
<br />recommendation included the following appropriations: Continuation Items
<br />$938,000.00 and New School Costs - $966,890.00. However, she said none of
<br />the Expansion Items totaling $972,000.00 were funded. Further, she reported
<br />$278,000.00 was appropriated for Consolidated Facilities and Operations and
<br />$1,739,708.00 in Capital Outlay.
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<br />Dr. Winkler responded to questions on how the new student projections
<br />are determined.
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<br />Liz Poole, Chair of the Cabarrus County School Board, commented on the
<br />lack of funding during the past four years for expansion items such as
<br />additional bus drivers and the development of in-school suspension programs.
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<br />UPON MOTION of Vice Chairman Carruth, seconded by Commissioner Privette
<br />and unanimously carried, the Board granted interim approval of the budget for
<br />Cabarrus County Schools as recommended by the County Manager, pending final
<br />approval following the public hearing on June 14; and agreed to continue to
<br />look for ways to resolve the disparity in the ADM funding allocation required
<br />by the State.
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<br />At 6: 25 P . m., the Board took a short break.
<br />6:33 p.m.
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<br />The meeting resumed at
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<br />Scheduling of a Budget Work Session
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<br />By consensus, the Board scheduled a budget work session to be held on
<br />Monday, June 13, from 4:00 p.m. to 7:00 p.m. in the Multipurpose Room at the
<br />Governmental Center.
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<br />Revenue Estimates for FY 2006 Budget
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<br />Pam Dubois, Deputy County Manager, presented the FY 2006 revenue
<br />estimates associated with the following categories: Ad Valorem, Other Taxes,
<br />Intergovernmental, Permits and Fees, Sales and Services, Investment Earnings,
<br />Miscellaneous, and Other Financing Sources. She commented on the County's
<br />prior use of fund balance to balance the operating budget that resulted in a
<br />negative outlook placed on the entire $98 million General Obligation (GO)
<br />bonds issuance by Moody's. Excerpts from reports by Standards and poor's
<br />and Fitch, the other two rating agencies, were also presented. Ms. Dubois
<br />reported management did not recommend the use of fund balance for FY 2006.
<br />Furthermore, she said management recommended the fund balance policy be
<br />enhanced to require a minimum 15 percent reserve, but also further state the
<br />fund balance will only be used for one-time expenditures or emergencies and
<br />will not be used to balance budgets for reoccurring expenditures.
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<br />Cabarrus County's Rank Among 10 Peer Counties
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<br />John Day, County Manager, presented the following comparison of
<br />surrounding counties with population totals within 10,000 of Cabarrus County:
<br />population 5th largest; School enrollment 2nd largest; Total school
<br />spending - 3rd highest; Total school spending per student - 4th highest; Total
<br />school debt - 3rd highest; Per capita income - highest; Tax rate FY 2005 -
<br />tied for 5th lowest; Proposed tax rates FY 2006 - tied for 6th lowest; and
<br />Range of tax rages - 43.5 to 78.
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<br />Recess of Meeting
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<br />UPON MOTION of Commissioner Privette, seconded by Vice Chairman Carruth
<br />and unanimously carried, the Board recessed the meeting at 7:15 p.m. until
<br />4:00 p.m. on June 13, 2005, in the Multipurpose Room at the Governmental
<br />Center.
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<br />j,~ .3-. ~
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<br />Clerk to the Board
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