HomeMy WebLinkAboutNN Ord-1998-004 Finance - Budget Amendment Skills Development Improvements 6 - 03-04-1998 - 8cORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: March 4, 1998
Action Agenda
Item No. g _ c
SUBJECT: Budget Amendment #6
DEPARTMENT: Budget Office
PUBLIC HEARING: (Y/N) No
BUDGET AMENDMENT: (Y/N) No
ATTACHMENT(S): INFORMATION CONTACT:
Skills Development Capital Project Ordinance Donna Dean, Budget Director
TELEPHONE NUMBERS:
Hillsborough 732-8181
Chapel Hill 968-4501
Durham 688-7331
Mebane 227-2031
PURPOSE: To approve proposed Skills Development Capital Project Ordinance.
BACKGROUND:
On February 17, 1998, the Boazd of Commissioners awarded a bid for renovation work for the
Skills Development Center in Chapel Hill. The contract amount is not to exceed $806,562 with
$780,000 funded through private placement financing and $26,340 funded through an appropriation
from unbudgeted sales tax receipts for 1996-97. The attached Skills Development Center Captial
Project Ordinance appropriates the funds for this project.
RECOMMENDATION(S): The Manager recommends that the Boazd of Commissioners
approved the attached Skills Development Capital Project Ordianance.
Skills Development Center Project
Capital Project Ordinance
Project Number 61-419
Be it ordained by the Orange County Board of County Commissioners that pursuant to
Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the following capital
project is hereby adopted.
Section 1. The project authorized will provide funds to purchase a facility, perform necessary
building renovations and establish a Skills Development Center located at 501/503
West Franklin Street in Chapel Hill. Proceeds from the County's portion of the
one-half cent sales taxes, appropriations from the County Capital Fund Balance,
and private placement funding finance this project.
Section 2. The officers of the County are hereby directed to proceed with the project within
the budget contained herein.
Section 3. The following revenue is anticipated to complete this project:
2
Transfer from General Fund (1994-95) $25, 000
Transfer from General Fund (1996-97) $99,240
Total Transfers $124,240
Appropriated Fund Balance (1996-97) $45,000
Appropriated Fund Balance (1997-98) $26,340
Total Appropriated Fund Balance $71,340
Proceeds from Private Placement Funding (1996-97) $1,200,000
Procees from Private Placement Funding (1997-98) $780,000
Total Transfers $1,980,000
Tota! Revenue $2,175,580
Section 4. A portion of the available funds for this project have been transferred to the
General Fund for repayment of debt service associated with the private placement
funding and for upkeep and maintenance for 501 West Franklin Street.
Transfer to General Fund (1996-97) $119,240
Section 5. The following amount remains appropriated for this project:
Skills Development Center Plroject $2,OS6,340
Section 6. This ordinance supersedes all previous Skills Development Capital Project
Ordinances.
Section 7. This ordinance, originally adopted June 28, 1994, shall be in effect from July 1,
1994 until June 30, 1998.
Adopted this 4`h day of March 1998.