BC 2004 12 20 Regular - Laserfiche WebLink

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December 20, 2004 (Regular Meeting) Page 24 PURPOSE OF REQUEST: The Tourism Authority (CVB) elected to contribute $25,000.00 of undesignated fund balance in response to the "Recommendation for Cabarrus County Tourism Authority Support of the Cabarrus County Economic Development Initiative" presented to the Tourism Authority Board on September 22, 2004. The Board approved the appropriation at the October 27, 2004 meeting. Present Account NO. Approved Budget 53163110-6901 $92,000.00 Fund Balance Appropriated 53193110-9724 $0.00 Economic Development Corporation Increase $25,000.00 Decrease Revised Budget $117,000..00 $25,000.00 $25,000.00 The contribution resulted in the addition of a seat on the Economic Development Board of Directors for the Tourism Authority. (F-13) Budget Amendments Establishing an Adequafe FacilitieS Fund UPO~ MOtION of Vice Chairman Carruth, seconded by Commissioner Juba and unanimously carried, the Board adopted the following budget amendments: BUDGET REVISION/AMENDMENT REQUEST DEPARTMENT OF FINANCE AMOUNT: $445,915.00 TYPE OF ADJUSTMENT: Supplemental Request PURPOSE OF REQUEST: In October of 2004, the Board approved the countywide collection of adequate facility fees for construction in single family, multifamily and mobile home parks. Due to the expected increase in collection of this fee, we are requesting to establish a separate fund, Adequate Facilities Fund. This will allow for the segregation and accounting of the funds from the current capital reserve funds in which they were previously accounted for. The funds collected by year are as follows: FY2000 $14,500.00; FY2001 $71,500.00; FY2002 $63,500.00; FY2003 $136,990.00; and FY2004 $159,425.00. Account No. 46267220-6921 Contribution 46297220-9821 Building and PreseIit Approved Budget $0.00 from Capital Reserve Increase $445,915.00 Fund $445,915.00 Decrease Revised Budget $445,915.00 $0.00 $445,915.00 RenovationS BUDGET REVISION/AMENDMENT REQUEST DEPARTMENT OF FINANCE AMOUNT: $445,915.00 TYPE OF ADJUSTMENT: Supplemental Request PURPOSE OF REQuEST: To make a contribution from the Capital Reserve Fund to the new Adequate Facilities Fund. The adequate facility fees have previously been collected and recorded in the Capital Reserve Fund. We would like to segregate the Adequate Facilities fees from other Capital Reserve funds. The funds collected by year are as follows: FY2000 $14,500.00; FY2001 $71,500.00; FY2002 $63,500.00; FY2003 $136,990.00; and FY2004 $159,425.00. Account No. 45097220-9721 Contribution 45067220-6518 Adequate Facilities Fee Present Approved Budget Increase $0.00 $445,915.00 to Capital Reserve Fund $0.00 $445,915.00 Decrease Revised Budget $445,915.00 $445,915.00 (F-14) Library - Budget AmeH~~ne (State Aid to Public Libraries Fund) UPON Mb~IbN of Vice Chairman Carruth, seconded by Commissioner Juba and unanimously carried, the Board adopted the following budget amendment: BUDGET REVISION/AMENDMENT REQUEST DEPARTMENT OF CONCORD LIBRARY AMOUNT: $3,526.00 TYPE OF ADJUSTMENT: Supplemental Request PURPOSE OF REQUEST: The General Assembly appropriated additional funding for the State Library to distribute to public libraries qualifying for grants. The North Carolina Department of Cultural Resources issued a memorandum dated November 12, 2004 allocating additional funding of $3,526.00 to the Concord