Agenda - 06-16-2009- 6-2-e - Laserfiche WebLink

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The purpose of the capital project amendments presented under Section 3 is to reflect the April issuance of alternative financing instead of 2001 Bond Funds to pay for these projects. The total appropriation for these projects remains the same. Amendments to Southern Community Park and West 10 Soccer are also included to °re-characterize" the source of funds as 2001 Bond Funds with no change in the total appropriation for either project. Attachment 1 provides explanatory information related to each of the project ordinances being amended under Section 1 and 2. Attachment 2 contains the project ordinances themselves. The project ordinances show all of the revenue currently appropriated, changes to the revenue being appropriated in the amendment and the total revenue appropriation as amended. This is followed by each of the expenditure lines for the capital project, the expenditure lines being amended and the total expenditures as amended. Draft procedures for monitoring the Capital Projects Funds and appropriate action to manage project appropriations are provided in Attachment 3 as requested by the Board. Section 1: School Capital Project Fund Projects Over Budget -The following schedule summarizes the capital project ordinance amendments to address those projects in the School Capital Project Fund where expenditures have exceeded the approved budget. The Carrboro High School and Morris Grove Projects are still active projects and sales tax reimbursement to date for these two projects exceeds the budgeted amount by $382,600. At the request of the Chapel Hill Carrboro School System, staff has included the appropriation of $382,600 in additional sales tax reimbursement revenue to enable payment of additional project costs. CHCSS staff has also requested the balance of the Mobile Classroom project budget be moved to the Carrboro High School Project because the mobile unit purchased for the school was charged to the Carrboro High School Project. . Capital Project Ordinance Revenue Amount Expenditures Amount Orange County Schools 2a Pathwa s Elementa 1997 Bonds $ 115,513 Construction $ 33,661 State Bonds ($ 37,409) Approp. Fund Bal ($ 254,530) Tr. From School Ca ital Reserve Fd $ 210,087 2b Playground Protective Surfaces Transfer from Gen Fd $ 13,974 Surfacin g $ 13,974 Chapel Hill-Carrboro Schools 2c Smith Middle Sch Cam us School Impact Fees $ 395,474 Construction $ 395,474 2d Can'boro Hi h School Sales Tax Reimb. $257,600 Construction ($915,544) Transfer from Gen Fd. ($1,173,144) 2e Mobile Classroom Transfer from Gen Fd ($274,200) Other ($110,000 2f Morris Grove Elementa Sales Tax Reimb. $125,000 Modular urchase Construction ($164,200) $125,000 Fund Total ($621,635) ($621,635)