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Agenda - 06-08-2010 - 2b
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Agenda - 06-08-2010 - 2b
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7/24/2012 9:08:14 AM
Creation date
6/7/2010 10:07:31 AM
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BOCC
Date
6/8/2010
Meeting Type
Budget Sessions
Document Type
Agenda
Agenda Item
2b
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Minutes 06-08-2010
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\Board of County Commissioners\Minutes - Approved\2010's\2010
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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />• ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: June 8, 2010 <br />Action Agenda <br />Item No. Z, b <br />SUBJECT: Appropriate Funds to Existing County Capital Projects and Transfer funds to <br />the County Capital Reserve Fund. <br />DEPARTMENT: Financial Services PUBLIC HEARING: (Y /N) No <br />ATTACHMENT(S): <br />INFORMATION CONTACT: <br />Clarence Grier, (919) 245 -2453 <br />Michael Talbert, (919) 245 -2153 <br />PURPOSE: To Appropriate County Capital Fund Balance to provide $1,429,470 of funding for <br />four projects with a shortfall, and $200,000 to be transferred to the County Capital Reserve <br />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 dollar shortfall from the General Fund. A <br />appropriated from the General Fund, $3.5 million in <br />Fiscal Year 2009/2010. The remaining $1.7 million <br />2010. <br />• <br />total of $4.2 million dollars has been <br />Fiscal Year 2008/2009 and $.7 million in <br />was approved by the BOCC on May 18, <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 />and these projects were closed once adequate funding was available at the end of Fiscal Year <br />2008/2009. This staff action left 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 />
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