HomeMy WebLinkAboutC.054.93010_0659 (2)Amendment #26 in the Amount of
or
t Request of Fie Tax Fund Balance and o Increase the Expenditure Lined em of
the Appropriation
200525-574271 (Water/Fire Hydrants) in the Amount of S40,000 for the Purpose Of
Reimbursing the West Iredell Water Corporation for Hydrant Installation: The county
manager, during the briefing session, advised that the hydrant purchases/installations were
approved by the board of commissioners in the past, but no funds were appropriated. It was also
mentioned that a hydrant policy, to be used by all of the water companies, was being reviewed.
5. Request for Approval to Negotiate a Contract with Craig Gaulden Davis for the
Architectural Design Work for the new Iredell County Library: Craig Gauden Davis is
based in Greenville, South Carolina. The principal architect for the library project will be David
Moore. The senior architect that will work on the project is Earle Gaulden,
6. Request for Approval of Budget Amendment #27 for the Re -Appropriation and
Transferring of funds to the Parks Reserve Fund and the Stumpy Creek Project &
Approval of an Amended South-iredell Park Fund Ordinance: Information from the finance
director explaining these two requests is as follows
to d et Amendment #27: Recreation revenue received in fiscal year 2000-01 exceeded budget by $50,462 and
Recreation expenditures were under budget by $25,900. The amendment re -appropriates the total and transfers it to
the Stumpy Creek Project Fund and Parks Reserve Fund. According to the advance of funds made from the Parks
Reserve Fund, Stumpy Creek is to repay the $100,000 advance in amounts equal to the annual GeneralCreek and
transfer. (Finance Director Blumenstein said she was recognizing the $19,090 transfer to Stumpy
appropriating the same amount for the transfer back to the Parks Reserve Fund.)
SturnM CreekProtect Fund: The Amended Project Ordinance recognizes the total transfers from the General Fund
project, to date, plus the transfer received this fiscal year. Additional community contributions of $20,000 and
$46,820 in additional investment earnings are also being recognized.
Incorrect account numbers were used in prior fiscal years and some transfers and interest were not picked up and
added to the budget. At December 31, 2001, $107,280 was reported as available for construction. The correct
amount should be:
Available at 12/31/01 $107,280
121,869
Add: Project Amendment
less: Repay to Parks Reserve25, ,3 0
The $203,805 includes the $100,000 advance from the Parks Reserve Fund. The advance may be reduced further by
unspent construction funds when the project is complete.
The amended South iredell Park Capital Project Ordinance is as follows:
Iredell County, North Carolina
Amended South Iredell Park Fund
Capital Project Ordinance
Be it Ordained by the Board of County Commissioners of Iredell County, North Carolina:
Section 1. The following project will be financed by this fund:
Stumpy Creek Park Project $760,730
Professional Services 75,155 __
Transfer to Parks Capital Reserve Fund l9 090 amend + $6,250 o vol a ro.
,
Section 2. Funds for this Capital Project Fund will be provided from the following sources
Parks & Recreation Trust Grant
$250,000
135,000
Increases
+20,000 annual receipts $133,124
Community Contributions
16,530
Memorials
Transfers from Parks Capital Reserve Fund
210,626
128,045
+35,845 =actual including unspent GF
Transfers from General Fund
121.024
+66.020 =actual since 1996
Investment Earnings
$861.2
Section 3. This Capital Project Fund shall continue until the project is complete.