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November 19, 2018 (Regular Meeting)
<br />Clerk to the Board
<br />Page 3746
<br />(F-4) Finance - Update of Capital Reserve Fund Project Ordinance and Budget
<br />Amendment
<br />As part of an inter -local agreement, the City of Concord made a $3,000,000
<br />contribution towards the construction of the downtown parking deck. A project
<br />ordinance and budget amendment are required for the receipt of the funds, which
<br />will be recorded in the Capital Reserve Fund.
<br />UPON MOTION of Commissioner Kiger, seconded by Commissioner Shue and
<br />unanimously carried, the Board approved an update to the Capital Reserve Fund
<br />Project Ordinance and the related budget amendment.
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<br />D• c N•ad: Susan FearrmBlon Depnmme. Flnen[e- Cagtal 0.eserve fano
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<br />This budget arrerbment
<br />records the receipt of $3,000,000 for the City of Concord's
<br />contribution towards the Downtown parking Deck.
<br />from
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<br />IMkrt•r amNn
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<br />Budi•t Amount
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<br />450
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<br />3.000.000.00
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<br />450
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<br />1 2.014.10).20 1 3.000.000.00
<br />5.9]4,101.30
<br />Ordinance No. 2018-51
<br />CABARRUS COUNTY CAPITAL RESERVE
<br />CAPITAL PROJECT BUDGET ORDINANCE
<br />BE IT ORDAINED by the Board of Commissioners of Cabarrus County, North
<br />Carolina that, Pursuant to Section 13.2 of Chapter 159 of the General Statutes
<br />of North Carolina, the following capital project ordinance is hereby adopted:
<br />Section I.
<br />A. The project authorized is for the purpose of accumulating and
<br />appropriating funds specifically for future County and School capital
<br />projects.
<br />B. The officers of this unit are hereby directed to proceed with this
<br />capital project within the terms of the Generally Accepted Accounting
<br />Principles (GAAP) and the budget contained herein.
<br />C. It is estimated that the following revenues will be available to
<br />complete capital projects as listed.
<br />Interest on Investments
<br />$ 560,142
<br />Contributions
<br />from
<br />General Fund
<br />79,684,286
<br />Contributions
<br />from
<br />Capital Projects Fund
<br />338,309
<br />Contributions
<br />from
<br />CVB
<br />573,771
<br />Contributions
<br />from
<br />other Governments
<br />3,000,000
<br />TOTAL REVENUES $84,156,508
<br />D. The following appropriations are made as listed:
<br />Mt. Pleasant Middle School
<br />3,627,164
<br />Royal Oaks Elementary
<br />4,476,490
<br />Kannapolis Middle School
<br />5,018,148
<br />Odell 3-5 Elementary School
<br />19,755,175
<br />G.W. Carver Renovations
<br />1,520,978
<br />CBTC Campus Renovations, Safety, Security
<br />184,075
<br />CBTC A/C Unit Replacement
<br />205,000
<br />Concord Middle School Roof
<br />884,359
<br />Harrisburg Elementary School Roof
<br />630,306
<br />Site Study Multiple Schools
<br />30,000
<br />J.N. Fries Middle School - Upfit
<br />300,000
<br />A.L. Brown High School Paving
<br />500,000
<br />Performance Learning Center
<br />590,709
<br />West Cabarrus High School
<br />9,801,495
<br />Hickory Ridge Elementary School
<br />3,550,001
<br />RCCC - Advanced Technology Center
<br />1,580,396
<br />RCCC Renovations
<br />280,043
<br />Cabarrus County Schools - Buses FY16
<br />875,000
<br />Cabarrus County Schools - Mobile Units FY16
<br />1,110,000
<br />Cabarrus County Schools yellow buses (10) FY17
<br />880,000
<br />
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