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Attachment 3 also lists three active projects that are not yet complete and will remain active for <br />their identified purposes. The available funds identified with these three projects of $825,000 <br />were volunteered by the Department of Environment, Agriculture, Parks and Recreation <br />(DEAPR) to assist balancing the County's annual budget without further reductions in programs. <br />FINANCIAL IMPACT: The closing of 38 projects and transferring $825,000 from existing <br />projects to the Capital Projects Fund Balance will make $1,808,428 available for future County <br />Capital Needs. <br />RECOMMENDATION(S): The Manager recommends the Board approve the closing of 38 <br />projects and the transfer of $825,000 from existing projects to the Capital Projects Fund <br />Balance as listed on Attachments 2 and 3. <br />ACTIONS REQUESTED <br />5. Appropriate County Capital Fund Balance to provide: <br />a. Funding for four projects with a shortFall; and <br />b. Funding for the County Capital Reserve Fund. <br />BACKGROUND: The Board of County Commissioners was presented a two year plan on <br />February 3, 2009 related to School and County Capital Projects. The plan was to fund a $5.9 <br />million dollars shortfall from the General Fund. A total of $4.2 million dollars has been <br />appropriated from the General Fund - $3.5 million in Fiscal Year 2008/2009 and $.7 million in <br />Fiscal Year 2009/2010. <br />CURRENT SITUTATION: The Board first took action to implement the 2 year plan to correct <br />the shortfall in the County Capital Projects Fund on February 3, 2009. After the initial <br />appropriation of $3.5 million from the General Fund, staff was given direction to take those <br />actions necessary to reallocate available funding to correct the project shortfalls. <br />Staff proceeded to reallocate resources between projects without the approval of the BOCC. <br />Then these projects were closed once adequate funding was available at the end of Fiscal Year <br />2008/2009. This staff action leaves four County Capital projects with a shortfall of $1,429,470. <br />The shortfall did not exist before action was taken to close projects in Fiscal Year 2008/2009. <br />Three of these projects are still active, with only the Homestead Community Center Project <br />having been completed. The total shortfall for these four projects is $1,429,470. <br />Proiects with a ShortFall <br />Twin Creeks Park (funded with 2003 Alternative Financing) $ 900,000. <br />Blackwood Farms (From County Parks Reserve) $ 400,000 <br />Homestead Community Center (project over budget) $ 17,834 <br />Lands Legacy (2004 2/3"s Bonds) $ 111,636 <br />Total Shortfall $1,429,470 <br />