HomeMy WebLinkAboutAgenda - 05-18-2010 - 4nORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: May 18, 2010
Action Agenda
Item No. ¢ - n
SUBJECT: Close Completed County Capital Projects
DEPARTMENT: Financial Services
PUBLIC HEARING: (Y/N) No
ATTACHMENT(S):
Attachment 1: Schedule of Projects to be
Closed
INFORMATION CONTACT:
Clarence Grier, (919) 245-2453
Michael Talbert, (919) 245-2153
PURPOSE: To close completed County Capital Projects.
BACKGROUND: As of June 30, 2009, the Comprehensive Annual Financial Report for Orange
County had 84 active capital projects in the County Capital Project Fund. Over the past eight
years, few if any capital projects were closed even though many have been completed for
several years. The purpose of a Capital Project Ordinance is to fund the acquisition or
construction of a capital asset.
A Capital Asset is defined by Governmental Accounting, Auditing, and Financial Reporting
(GAAFR) as: land, improvements to land, easements, work of art, and historical treasures,
infrastructure and all other tangible or intangible assets that are used in the operations and that
have initial useful lives extending beyond a single reporting period.
As stated in General Statute 159-13.2 (c) Project Ordinances, "A project ordinance shall clearly
identify the project and authorize its undertaking, identify the revenues that will finance the
project, and make the appropriations necessary to complete the project."
CURRENT SITUTATION: Orange County has established projects in the County Capital
Projects Fund to construct or acquire a capital asset. Over the past few years these projects
have rarely been closed even after the scope of the original project is complete.
Attachment 1 lists twenty-six County Capital projects that are still active even though they have
either been substantially completed or never had any activity. Closing these projects would
provide $245,560 in capital resources that can be used for other capital priorities.
The Board of Commissioners previously discussed this item at its May 11, 2010 work session.
FINANCIAL IMPACT: The closing of 26 projects will provide $245,560 for future County
Capital Needs.
RECOMMENDATION(S): The Manager recommends the Board approve the closing of 26
completed projects listed on Attachment 1.
2
Attachment 1
Capital Projects to be closed 2009- 2010
Available Balances 4116/10
Actual
Project Number Project Balance Remaining
in Project
10003 Animal Shelter $ -
10032 Farmers Market $ -
10036 Carrboro Library $ -
10041 Efland Rescue Building $ 12,500.00
20004 Efland Cheeks Park $ -
20007 Greenways Development $ -
20009 Homestead Park/Aquatics ~$ 96,¢.$,:00.
20012 Little River Natural Area $ 18,191.00
20013 McGowan Creek Preserve $ 1.00
20016 Other Park Projects $ -
20019 Seven Mile Creek Preserve $ 5,311.60
20020 Smith Middle School Park $ -
20021 Southern Park $~-3Q46~
20022 Sportsplex $ -
20025 Bolin Creek Greenway $ -
20031 Orange HS Tennis $ -
30001 Building Safety $ (0.35)
30020 Masonry Repairs $ -
30021 Painting of County Facilities $ -
30022 Assessments & Testing $ 28,200.00
30026 Elevator Repairs & Imp $ 8,635.00
30027 Fire Alarm System $ 30,000.00
30028 Flooring Replacement $ -
30030 Signage $ 3,700.00
30032 Waterproofing & Drainage $ -
30033 Emergency Communications $ -
$ 245,560.71
Bond Funds
Bond Funds
Remaining Bond Funds will be used to fund
other County Capital Projects