BC 1995 04 03 - Laserfiche WebLink

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373 BUDOET REVISION/AMENDMENT REQUEST DEPARTMENT OF GENERAL FUND - OTHER GENERAL GOVERNMENT PROGRAMS AMOUNT: $2,368,407.00 TYPE OF ADJUSTMENT: Supplemental Request PURPOSE OF REQUEST: To appropriate contingency and capital reserve funds to Capital Project Fund for new elementary school. Present Approved Revised Account No, Budget Increase Decrease Budget 01-9-19-10-661 -0- Capital Reserve 01-9-72-10-701 2,002,772.20 Cabarrus County Schools 01-9-19-60-705 -O- Contribution to Capital Project 01-9-19-10-661 800,000.00 Capital Reserve 01-9-19-10-660 2,569,996.25 Contingency 800,000.00 800,000.00 2,368,407.00 800,000.00 1,568,407.00 800,000.00 1,202,772.20 2,368,407.00 -0- 1,001,589.25 BUDGET REVISION/AMENDMENT REQUEST DEPARTMENT OF CAPITAL PROJECT FUND AMOUNT: $2,368,407.00 TYPE OF ADJUSTMENT: Supplemental Request PURPOSE OF REQUEST: To establish Capital Project budget for new elementary school. Present Approved Revised Account No, Budget Increase Decrease Budget 33-6-72-10-902 -0- Contribution from General Fund 33-9-72-10-161 -0- Engineering 33-9-72-10-171 -0- Legal 33-9-72-10-165 -0- Architect 33-9-72-10-660 -0- Contingency 33-9-72-10-801 -0- Land 33-9-72-10-820 -0- Building $2,368 407.00 101 800.00 10 000.00 546 607.00 60 000.00 700 000.00 950 000.00 2,368 407.00 101 800.00 10 000.00 546 607.00 60 000.00 700 000.00 950 000.00 Commissioner Fennel questioned the establishment of an oversight committee for the westside elementary school. Information concerning this committee will be requested. Resolution Endorsing Legislation to Reduce Debt for Public School Facilities Chairman Barnhart introduced the proposed resolution endorsing local legislation for a one percent local option sales tax with certain restrictions, including a referendum, sunset provision, and use of proceeds for specific projects. He stated this one percent sales tax would enable the County to save money on interest payments and enable the money to go directly into school buildings. The Board had previously agreed to support a statewide bill to authorize a one percent local option sales tax for school construction. However, the statewide bill did not include the restrictions as requested in the local legislation. Mr. Hartsell reported that the statewide bill is not looked upon with favor at this time due to the current "anti-tax" mood. He stated he is prepared to introduce the local legislation this week, but indicated he could not predict its outcome. Mr. Hartsell further reported that a recent School Law Bulletin had placed Cabarrus County as the second fastest growing school system by percentage in the state over the next five to ten years.