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ADOPTION OF CAPITAL RESERVE FUND ORDINANCE: MOTION from Commissioner Madison to adopt the
Capital Reserve Fund Ordinance as corrected, as follows:
CAPITAL RESERVE FUND
IREUELL COUNTY, NORTH CAROLINA
Be it Ordained by the Board of Commissioners of Iredell County, North Carolina:
Section 1. This amends the original Capital Reserve Fund created for
the County of Iredell.
Section 2. The Capital Reserve Fund is established to accumulate funds
for the purchase of land, water and sewer line
construction, purchase, constru(tion, or renovation of
buildings, purchase of furniture and equipment for newly
constructed, purchased or renovated facilities, or
annual debt service on those items heretofore mentioned.
Section 3. Funds will be provided by unexpended fund balance of the
original Capital Reserve Fund, operating transfers from the
General Fund, and interest on investments. The operating
transfers are subject to annual appropriation by the Iredell
County Board of Commissioners.
Section 4. All projects funded from this Capital Reserve Fund are subject
to approval by the Board of Commissioners and will be
accounted for in a Capital Project Fund.
Section 5. It is estimated that the following revenues will be available
for the Capital Reserve Fund for the period July 1, 1992 through
June 30, 1993.
Unexpended fund balance from original
Capital Reserve Fund $ 634,968
Operating Transfer from General Fund 1,250,000
Interest on Investments 25,400
Total Revenues $1,910,368
Section 6. It is estimated that the amount reserved for the purchase of
land, water -sewer line construction, purchase, construction,
or renovation of buildings, purchase of furniture and
equipment for newly constructed, purchased or renovated
facilities, or annual debt service on those items heretofore
mentioned will be as follows:
Reserved for Future Capital Outlay $1,910,368
This Ordinance being adopted this the _day of June, 1992.
") e. r
Cfiairman, re e oun2y�oar3 -•
of Commissioners
VOTING: Ayes - 4; Nays - 1 (Stewart)
ADOPTION OF FINANCE PLAN FOR HEALTH CARE: MOTION from Commissioner Madison to adopt the
Financial Plan for Health Care as follows:
FINANCIAL PLAN - 1992 - 1993
HEALTH CARE BENEFITS
Fund 053
Iredell County, North Carolina
Section 1. It is estimated that the following revenues will be available in the Health Care
Benefits Fund for the fiscal year beginning July 1, 1992 and ending June 30, 1993:
Interest on Investments 3,500
Non -Employee Charges 27,400
Contribution from Employer 918,499
Contribution from Employees 187,000
Stop Loss Claims Payment -0-
TOTAL REVENUES 1,136,399 '