HomeMy WebLinkAboutC.054.93011_0743 (2)appropriated. Mashburn said there was a legislative (House) proposal to cap all
counties' cost at the 2004-05 levels, plus two percent.
Vice Chairman Williams said he felt the public was becoming more sympathetic
towards the counties regarding the Medicaid problem. He said North Carolina was the
only state that continued to force the counties to contribute to Medicaid, plus North
Carolina had some of the better benefits. Mr. Williams urged the board members to
lobby the legislators to seek Medicaid relief.
Commissioner Johnson said in 1997 dollars, the $35 million would have built one high
school, one middle school, and better than half of an elementary school.
Commissioner Robertson said no one had been able to explain to him why North
Carolina had some of the highest income taxes in the nation, but the state government had to
raid the counties' funds to balance its books.
----------------------------------------CONSENT AGENDA ---------------------------------------
OTIO by Commissioner Norman to approve the following ten consent
agenda items.
VOTING: Ayes - 5; Nays - 0.
i. Request from the Iredell-Statesville School System for Approval of Budget
Amendments Relating to Capital Outlay: Iredell-Statesville Schools Finance Officer
Kay Fulp, during the briefing session, requested approval of the following amendments.
Fulp said the adjustments would not require any new money.
2. Request from the Iredell-Statesville Board of Education for Approval of a
Resolution in Conjunction with the Financing/Refinancing of Mobile Classrooms:
During the briefing session, Iredell-Statesville Schools Finance Officer Kay Fulp and
Maintenance Director Dr. Kenny Miller requested approval of a resolution that was
needed to fulfill the requirements for a financing and refinancing of mobile classrooms.
Miller said the school system currently had 163 units, and the system wanted to
refinance 73 of them. He said the system owned 13 units, but only six were used for
classrooms. Dr. Miller said the others were used for storage.
The system submitted the following request for the transaction.
We, the administration and Board of Education of the Iredell-Statesville School System request
The Iredell County Board of Commissioners to pass a resolution allowing the school system to
finance/ refinance all remaining mobile classrooms.
Pending attorney approval, we anticipate financing these classrooms through Modular Technologies
at a rate of 3.00%, for 60 months, with a monthly payment of approximately $76,726.79. The amount
to be borrowed is $4,140,778.79.
FY July 1, 2004 - June 30, 2005
Capita 0Ut12
Description
Original
Amendment
Adjusted Budget
Future School Construction
253,731.00
252,731.00
Annual Renovations
851,148.00
53,716.86
797,431.14
Roofing
251,000.00
17,000.00
234,000.00
Boiler/HVAC
340,000.00
11,000.00
351,000.00
Mobile Unit Set-up
165,000.00
17,000.00
182,000.00
Vehicles
659.000.00
55,113.99
714,113.99
Paving
117,500.00
38,000.00
155,500.00
Waste Water
210,000.00
131,113.99
78,886.01
Fumiture Equipment
720,450.00
80,716.86
801,166.86
Total County Appropriation
3,314,098.00
252,731.00
3,566,829.00
I -S Schools Fund Balance
1,181,014.45
1,181,014.45
Total Capital Outlay Budget
3,314,098.00
1,433,745.45
4,747,843.45
2. Request from the Iredell-Statesville Board of Education for Approval of a
Resolution in Conjunction with the Financing/Refinancing of Mobile Classrooms:
During the briefing session, Iredell-Statesville Schools Finance Officer Kay Fulp and
Maintenance Director Dr. Kenny Miller requested approval of a resolution that was
needed to fulfill the requirements for a financing and refinancing of mobile classrooms.
Miller said the school system currently had 163 units, and the system wanted to
refinance 73 of them. He said the system owned 13 units, but only six were used for
classrooms. Dr. Miller said the others were used for storage.
The system submitted the following request for the transaction.
We, the administration and Board of Education of the Iredell-Statesville School System request
The Iredell County Board of Commissioners to pass a resolution allowing the school system to
finance/ refinance all remaining mobile classrooms.
Pending attorney approval, we anticipate financing these classrooms through Modular Technologies
at a rate of 3.00%, for 60 months, with a monthly payment of approximately $76,726.79. The amount
to be borrowed is $4,140,778.79.