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February 5, 2018 (work Session) <br />Page 3437 <br />a. The Finance Director is hereby directed to maintain within the <br />Capital Project Fund sufficient detailed accounting records to <br />satisfy the requirements of the law. <br />b. The Finance Director is directed to report, at the request of the <br />Board, on the financial status of each project element in Section <br />I and on the total revenues received or claimed. <br />c. Copies of this capital project ordinance shall be furnished to <br />the Clerk to the governing Board, and to the Finance Director for <br />direction in carrying out this project. <br />d. At the completion of a construction project, all unrestricted <br />excess funds are transferred to the General Fund and the portion <br />of the Capital Project associated with the project is closed. <br />Adopted this 5th day of February, 2018. <br />CABARRUS COUNTY BOARD OF COMMISSIONERS <br />BY: /s/ Stephen M. Morris <br />Stephen M. Morris, Chairman <br />ATTEST: <br />/s/ Terri Lea Hugie <br />Clerk to the Board <br />Human Resources - Public Safety Salary Study Results <br />Lundee Covington, Human Resources Director, introduced Stephanie Oberg, <br />The Employers Association, Compensation and Research Manager, who provided a <br />PowerPoint presentation covering the following topics: <br />2017-18 Salary Study <br />o Methodology <br />o Key Findings <br />o Next Step Recommendations <br />o Cost Implications <br />• Additional Items <br />o Education Incentive Payout <br />o Lump Sum Payouts / Maximum of Range <br />o Public Safety Focus Group Sessions <br />A brief discussion ensued. Ashley Allen, Human Resources Analyst, was <br />also in attendance. <br />Finance - Cabarrus County Schools - Collateral Substitution Resolution <br />Susan Fearrington, Finance Director, reported that back in 2011, $14.6 <br />million was issued in Qualified School Construction Bonds (QSCB) installment <br />financing for various projects for Cabarrus County Schools and Kannapolis City <br />Schools. Mount Pleasant Middle School was used as collateral. The facility is <br />no longer being used as a school and in order to sell it to a private purchaser, <br />a substitution of collateral is required. Ms. Fearrington stated it was <br />determined Winecoff Elementary School would be the best option to substitute as <br />collateral. <br />A discussion ensued. During discussion, Ms. Fearrington and Steve Cordell, <br />Bond Counsel, responded to questions from the Board. <br />Finance - Cabarrus County Schools Agency Agreement - New Southwest Elementary <br />School <br />Susan Fearrington, Finance Director, announced the Cabarrus County <br />Schools Agency Agreement allows Cabarrus County Schools to act on behalf of the <br />Board for the upcoming debt issue in making decisions regarding the construction <br />and equipment for the new elementary school. Ms. Fearrington stated the <br />agreement further allows the County to seek sales tax reimbursement. She also <br />responded to questions from the Board. <br />Finance - Cabarrus County Schools - Southwest Elementary School Reimbursement <br />Resolution <br />