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APR 14199+4
figures they are getting indicate that the revenues they have used
is somewhat conservative. Their figures are assuming a 3% growth
in county revenues and a 48 growth in public school capital funds,
which is what the state is projecting.
The school system is again projecting $1.5 million for a
capital improvements fund. That has been a good thing for the
school system to be able to project ahead and plan a year in
advance for capital improvements. They will be within about
$68,000 of their projections budgeted for the $1.5 million at the
and of the year, Register said.
Dr. Register addressed the excess funds generated by the
three -cent ad valorem tax set for the repayment of the COPS
financing, which he regarded as a "good source of revenue."
Dr. Register asked the county commissioners to consider the
additional 5 -cent ad valorem tax which would be the remainder of
the 8 -cent tax discussed in the original merger agreement.
Dr. Register distributed a list of the Annual Capital
Improvements Fund from all the schools and buildings.
Commissioner Stewart inquired if all the bills have been paid
in connection with North Middle, East Middle, and Brawley. Mrs.
Gwaltney said all the bills have not been paid at East Middle, and
Brawley project is still underway with the phase two. The final
date of completion for Brawley is August. They do not anticipate
any remaining funds from the COPS funds, Gwaltney said.
Chairman Long said there is a rumor they have $4 million left
out of the bond money. They have $400,000 left and still have to
pay for the Phase II of Brawley and some bills at East which are
some little contingencies.
Vice Chairman Boone said there is a rumor going around that
Iredell County has $14 to $15 million in Fund Balance.
Commissioner Stewart inquired how much is in Fund Balance. Susan
Blumenstein said as of June 30, 1993 there was $7.2 million
unrestricted, undesignated. This was about 13% of the total
budget. V. Chairman Boone said he believed the average for
counties below 50,000 population is 15% of their budget, so the
county is well above minimum but actually below average.
Chairman Long said the average fund balance for school systems
with over 3,000 students is over $3 million.
Dr. Register discussed the details of the $1.5 million Capital
Improvement Funds. They had $3.5 million in requests from the
schools for the funding.
Dr. Register discussed the Facilities Improvement Plan.
Prioritized List of Proiects. The school board took action on
Monday night of its intent to fund Priority 11. Mrs. Haire has
been sent a letter to request a Letter of Intent from the county
commissioners for funds for the new elementary school in South
Iredell. It was the consensus, Dr. Register said, that this
priority was one that needed to be funded as soon as possible.
The new elementary school to relieve overcrowding at Mt.
Mourne, Shepherd and Troutman Elementary is one of the first
priority projects, and renovation of the Troutman Middle School is
the second of the first priority items. This is the only middle
school that has had no work done to it. They are requesting
$965,034 for this project. The elementary school building cost is
$4,977,798, for a total of $5,942,832 for the first priority
capital items for 94-95 fiscal year.
Mr. Madison asked last time about the separate costs for the
heating and air condition improvements. There is no written copy
to hand out on this tonight, but what is in the priorities #'2 and
3, for high school and elementary schools, the cost for air