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Clarence Grier said that staff would come each year to make sure the Board of County <br /> Commissioners is informed as to where the County stands on the capital projects. <br /> Frank Clifton said that he does not understand why the auditing firms never questioned <br /> this capital project accounting process in the past years. <br /> Chair Foushee said that a citizen should be able to look at this type of document and <br /> see that this money has been earmarked. <br /> Commissioner Hemminger asked about the process now and Chair Foushee said to <br /> adopt it tonight in principle and it will come back on the 151H <br /> Michael Talbert said that there will be future changes. For example, in the Twin Creeks <br /> project, there are two items that the Board has not acted on. There has been an appropriation <br /> in theory of $623,000 for the Town of Chapel Hill for Cedar Falls Park, but this money has not <br /> been put into a reserve for this project. <br /> A motion was made by Commissioner Gordon, seconded by Commissioner Nelson to <br /> approve the Manager's recommendation to approve the closing of 15 projects with total <br /> available funds of $961,485 and the transfer of $825,000 from existing projects to the Capital <br /> Projects Fund Balance as listed on Attachment 1, and the correct name of the library fund. <br /> Frank Clifton said that he would clarify this on the 151h <br /> VOTE: UNANIMOUS <br /> b. Appropriate Funds to Existing County Capital Projects and Transfer funds <br /> to the County Capital Reserve Fund <br /> Michael Talbert said that there are four projects with a funding shortfall. The projects are <br /> Twin Creeks Park ($900,000); Blackwood Farms ($400,000); Homestead Community Center <br /> ($17,834); and Lands Legacy ($111,636). The total shortfall is $1,429,470. To help fund <br /> these projects, there are some unallocated funds that accumulated in the Capital Projects <br /> Fund but have not yet been appropriated to an individual project. The amounts are sales tax <br /> refunds that the County has paid. The total unallocated sales tax reimbursements total <br /> $285,733. The other part- $734, 400 - is interest income. The total of the action that was just <br /> taken in item 2-a combined with this $1,020,133 will free up funds for the shortfall. <br /> A motion was made by Commissioner Gordon, seconded by Commissioner Nelson to <br /> appropriate $1,020,133 from Unallocated Resources and $409,337 from the Fund Balance of <br /> the County Capital Projects Fund to fund the $1,429,470 shortfall; and appropriate $200,000 <br /> from the Fund Balance of the County Capital Projects Fund to the County Capital Reserve <br /> Fund, earmarking $50,000 for the Library Future Facilities Fund and $150,000 for the Fund <br /> Balance; leaving $1,229,470 available for future County Capital Needs. <br /> VOTE: UNANIMOUS <br /> c. Approve the First Year of the Capital Investment Plan (CIP) and instruct staff <br /> as to changes in the 2010-15 CIP Process <br /> c.1 First Year of the CIP Plan <br /> Michael Talbert made reference to Attachment 1 and reviewed this. <br /> Attachment 1 <br /> Orange County Recommended Projects <br /> Capital Investment Plan FY 2010-11 <br />