HomeMy WebLinkAboutC.054.93011_0258 (2)She said the issuance date, interest to be paid for the fiscal year, and the interest to be
earned on the unspent COPs proceeds were all estimated. Blumenstein said the actual
numbers were now available, and they revealed additional funding for the schools. She
said a budget amendment was needed and the revised appropriations would be as
follows:
Iredell-Statesville
Mooresville
Mitchell College
Current Appropriation $4,382,705.00
$1,087,450.00
$ 604,795.00
Revised 4,661,212.00
1,191,174.00
624,986.00
Appropriation
(10,000)
-
Budget $ 278,507.00
$ 103,724.00
$ 20,191.00
Amendment
Professional Services — Legal
65,000
Interest earned on the bond proceeds and interest due on the COPS issued in 2003 is less than
estimated during 2003-04 budget preparation.
Library Salaries & Wages -Regular
726,112
7. Request for Approval of Budget Amendment #40 for the Transfer of Funds
from Contingency to the Legal Budget to Cover Additional Costs Associated with
Claims Against the County and Increased Legal Services and also to Transfer
Funds from Salaries (Library Budget) to Claims and Settlements: Finance Director
Blumenstein stated during the 5:00 p.m. meeting that additional funds were needed in
the legal budget; however, transfers could be made where the amendment did not
require any "new" money. (The following chart shows the line items that were altered.)
General Fund
Existine
Chanee
Amended
Contingency
$ 98,096
$ (74,000)
$ 24,096
Claims and Settlements
10,000
(10,000)
-
Legal Travel
1,000
(1,000)
-
Professional Services — Legal
65,000
85,000
150,000
Library Salaries & Wages -Regular
726,112
(22,250)
703,862
Claims and Settlements
-
22,250
22,250
8. Request for Approval of the April 20, 2004 Minutes
-----------------------------------END OF CONSENT AGENDA -------------------------------
Request for a Discussion/Decision Regarding the Water Supply Systems for
the Lincoln Estates and River Hills Heights Subdivisions: Inspections and Planning
Director Lynn Niblock said the county was previously asked to be a grant applicant for
the Lincoln Estates and River Hills Heights' water systems. He said both subdivisions
had been served by the Community Water Works Company since the 1970s. Niblock
said the systems had deteriorated to the point the residents had asked the state utilities
commission for assistance. He said Mr. Jay Lucas, with the utilities commission, had
sent a letter asking if the county would serve as a grant applicant if funds could be
found. Mr. Niblock said Lucas had been unsuccessful in locating grant funds, and he
(Lucas) had written another letter asking if the county would absorb the upfront
improvement costs, and then recoup the expenses through property assessments. He
continued by saying Lucas had provided the following cost estimates for the
improvements.
51 houses/unitsin Lincoln Estates
Subtotal construction cost
$145,384
Technical services and contingencies @ 30%
43.615
Total cost of water system
$188.999
Cost per lot: $3,706
26 houses/units in River Hills Heights
Subtotal construction cost
$ 75,500
Technical services and contingencies @ 30%
22 650
Total cost of water system
$28.15
Cost per lot $3,775
Total for Both Subdivisions