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May 21, 2018 (Regular Meeting) Page 3592
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<br />(G-2) Cabarrus County Schools Request for West Cabarrus High School
<br />Contingency Funds
<br />Kelly Kluttz, Cabarrus County Schools (CCS), Chief Financial Officer, and
<br />Tim Lowder, Cabarrus County School (CCS) Executive Director of Operations,
<br />requested approval to use $860,000 of contingency funds for the construction of
<br />the West Cabarrus High School due to some unsuitable soil conditions encountered
<br />with the project.
<br />A discussion ensued. During discussion, Ms. Kluttz, Mr. Lowder and Pam
<br />Dubois, Senior Deputy County Manager, responded to questions from the Board.
<br />Vice Chairman Honeycutt MOVED to approve the $860,000 West Cabarrus High
<br />School contingency request through the use of Capital Reserve Funding and
<br />to authorize the Cabarrus County Finance Director to prepare the appropriate
<br />budget amendment and project ordinances. Commissioner Kiger seconded the motion.
<br />Following a brief discussion, the MOTION unanimously carried.
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<br />Ozdinence No. 2018-10
<br />CABARRUS COUNTY
<br />LIMITED OBLIGATION BONDS 2017 PROSECT
<br />BUDGET ORDINANCE
<br />BE IT ORDAINED by the Board of Commissioners of Cabarrus County, North
<br />Carolina that, Pursuant to Section 13.2 of Chapter 159 of the General Statutes
<br />of North Carolina, the following capital project ordinance is hereby adopted:
<br />Section I.
<br />A. The project authorized is for the construction of a Parking Deck.
<br />Details of the project are listed in section C. of this Project
<br />Ordinance.
<br />B. The officers of this unit are hereby directed to proceed with this
<br />capital project within the terms of the Generally Accepted Accounting
<br />Principles (GAAP) and the budget contained herein.
<br />It is estimated that the following revenues will be available to
<br />complete capital projects as listed.
<br />General Fund Contribution $997,000
<br />Capital Reserve Contribution 6,509,665
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