BC 2003 01 27 - Laserfiche WebLink

Home Browse Search

January 27, 2003 Page 28 lC D $1,000,001 to $5,000,000 51,625 $5,200 Greater than $5,000,000 Finally, Mr. Bennett recommended approval to move forward with the audits along with approval of a budget amendment appropriating an additional $60,000.00 for audits to be done this fiscal year. UPON MOTION of Vice Chairman Suggs, seconded by Commissioner Privette and unanimously carried, the Board agreed for Tax Management Associates to proceed with the business personal property audits as outlined by Mr. Bennett. Further, the Board adopted the following budget amendment to provide additional funding for audits to be done during FY 2003. BUDGET REVISION/AMENDMENT REQUEST DEPARTMENT OF Tax Assessor AMOUNT: $60,000.00 TYPE OF ADJUSTMENT: Supplemental Request PURPOSE OF REQUEST: Additional funding for personal business and property audits to be completed by June 30, 2003. Present Account No. Approved Budget 00191410 9445 $138,391.00 Purchased Services 00161710 6901 $5,100,059.88 Fund Balance Appropriated Increase Decrease $60,000.00 $60,0O0.O0 Revised Budget $198,391.00 $5,160,059.88 (F-2) Annual Audit Presentation with Financial U~dates Ms. Pam Dubois, Assistant Finance Director, presented the annual audit for the fiscal year that ended June 30, 2002 along with financial updates. She addressed the following issues during her presentation: Revenues by Source; Percentage of Change in Ad Valorem Tax Revenues; Growth in Sales Tax Revenue; Expenditures by Function; County Schools Expenditures; Debt; Undesignated Fund Balance as Percentage of Expenditures. (F-3) HOME Program - Public Hearing - 6:30 ~.~ Ms. Kelly Sifford, Community Development Manager, presented a brief overview of the HOME Program. She reported that funds in the amount of $125,000.00 are expected for the continuation of the Program with a required County match of 25 percent. Chairman Freeman opened the public hearing on the HOME Program at 8:15 p.m. and asked if anyone wished to address the Board regarding the program. The Notice of the Public Hearing was published in THE INDEPENDENT TRIBUNE on January 17 and January 19, 2003. Ms. Betty Cannon of the Fishertown Community asked for information about the HOME program and eligibility requirements. Ms. Sifford explained the HOME program is a home construction and rehabilitation program for low to moderate-income persons. She stated the program does not provide funds for infrastructure. There was no one else present to address the Board, and Chairman Freeman closed the public hearing at 8:18 p.m. There was discussion regarding the sewer problems that have existed in the Fishertown/Princeton Park area for a number of years. Board members questioned the availability of any grant program that could provide funds for infrastructure in that community. Ms. Sifford reviewed the Small Cities Community Development Block Grant (CDBG) Infrastructure Program and explained that funding is based on the "tier" system with Cabarrus County ranked in Tier 5. She reported that a previous service-engineering estimate placed the cost to provide sewer to approximately 143 homes in the Fishertown/Princeton Park community at approximately $1.85 million or $12,958.00 per unit. Board members discussed the preparation of CDBG grants and the possibility of a firm such as Hobbs, Upchurch and Associates preparing a