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WHEREAS, the Iredell County Board of Commissioners supports consolidation of two or more of the
existing separate school systems located within the County and
WHEREAS, pursuant to consolidation the Iredell County Board of Commissioners intends to in-
crease funding on a per pupil basis to a level deemed necessary to provide adequate and equitable
educational opportunities for Iredell County students; therefore
BE IT RESOLVED by the Board of Commissioners of Iredell County as follows:
a. That $800,000 of unappropriated and undesignated fund balance of the General Fund be hereby
designated and restricted to increase per pupil funding upon consolidation of two or more of the
existing school systems.
b. That interest accruing on the principal amount of $800,000 be restricted for the same
purpose and used to increase the designated, restricted balance.
c. That Board action will be required for any expenditures from the balance.
d. That if after twelve months from the effective date of this resolution it appears no
consolidation efforts are being made, the Board may retract this resolution and return the $800,000
plus accrued interest to the undesignated fund balance.
e. This resolution to be effective July 1, 1987.
Adopted this the day of July, 1987.
J i
IREDELL COUNTY BOARD OF COMMISSIONERS
(moi air an
Attest: er a k_'`/
VOTING: Ayes - 4; Nays - 1 (Stewart)
FINANCIAL PLAN - 1987-88 MOTION from Commissioner Murdock to adopt the Financial Plan - 1987-
88, as presented by the County Manager, reading as follows:
FINANCIAL PLAN 1987-88
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, 1987, and ending June 30, 1988:
Interest on Investments 6,000
Non Employee Charges 7,200
Contribution from Employer 314,712
Contributions from Employees 132,388
Stop Loss Claims Payment 175
Total Revenues 460,475
Section 2. It is estimated that the following expenditures will be made in the Health Care
Benefit Fund for the fiscal year beginning July 1, 1987, and ending June 30, 1988:
Employee Health Payments 387,096
Claims Administration Expense 19,632
Stop Loss Insurance Expense 30,516
Other Employee Health Expenses 6,851
Employee Life Insurance 16,380
Total Expenditures 460,475
This plan being duly passed and adopted this the 1st day of July, 1987.
IREDELL COUNTY BOARD OF COMMISSIONERS
s/Larry S. Hedrick, Chairman
s/Alice Fortner, Clerk
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