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Budget Revision/Amendment Request <br />Date: 11/19/2918 Amount )3,493.00 <br />Dept. Head: Susan Fearrington- (prepared by sfaff) Department Finance - Arena <br />❑ Imernai Trander Wlthln Department ❑ Transfer Between Departments/Funds ❑' Supplemental Request <br />purpose: This budget amendment appropriates fund balance from the General Fund and allocates funds to pay the Arena performance management <br />fees to SMG Management Comp W. The fees are calculated per the SMG/Cabarrus County contract dated July 1, 2015 and a re related to specific <br />profhabilhy and performance measurements. Fees are composed of a quantitative portion relating to Gross Operating revenue and a qualitative portion <br />relating to more subjective performance measures. The incentive for the Arena Operations is $27,302 and the Incentive for the Food & Beverage is <br />$46,191. <br />Fund <br />Indicator <br />Department/ Object/ <br />Project <br />Account Name <br />Approved <br />Budget <br />Increase <br />Amount <br />Decrease <br />Amount <br />Revised Budget <br />001 <br />6 <br />19W 6901 <br />Fund Balance Appropriated <br />458,736.00 <br />73,493.00 <br />- <br />532,229.00 <br />001 <br />9 <br />1960-9741 <br />Contribution to SMG <br />759,500.00 <br />73,493.00 <br />- <br />832,993.00 <br />420 <br />6 <br />8310-6902 <br />Contribution fmm General Fund <br />759,500.00 <br />73,493.00 <br />- <br />832,993.00 <br />420 <br />9 <br />8310-9004 <br />Performance lncentfves <br />- <br />27,302.00 <br />- <br />27,302.00 <br />420 <br />9 <br />8310-9000-FSVC <br />Performance Incentives Food &Beverage <br />46,191.00 <br />- <br />46,191.00 <br />sgrwrwe <br />Budget Officer County Manager Board of Commissioners <br />❑ Approved ❑ Approved ❑ Approved <br />❑ Denied ❑ Denied ❑ Denied <br />Sgnnrure <br />Onre <br />Page 102 <br />