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Orange County Schools:
<br />Revenue Source FY 2010-11
<br /> Amendment
<br />From General Fund (PAYG) $879,608
<br />Total $879,608
<br />Project FY 2010-11
<br />.Current Budget FY 2010-11
<br />Amendment FY 2010-11
<br />Revised
<br />Cameron Park Elementary $593,285 $230,600 $823,885
<br />Central Elementary $240,000 $65,900 $305,900
<br />Efland Cheeks Elementary $133,541 $189,908 $323,449
<br />Hillsborough Elementary $295,000 $70,000 $365,000
<br />A.L. Stanback Middle $0 $32,000 $32,000
<br />C.W. Stanford Middle $273,065 $250,000 $523,065
<br />Orange High `$418,235 $41,200 $459,435
<br />Total $1,953,126 $879,608 $2,832,734
<br />Alternative Financed Capital Projects
<br />10. On December 6, 2010, the Board of County Commissioners approved a resolution 2010-
<br />093 authorizing the issuance of up to $2,000,000 for equipment financing at an interest
<br />rate not to exceed 3.00 percent. A total of $2,000,000 of equipment financing was closed
<br />on December 13, 2010 for 60 months at a rate of 2.36 percent. The proceeds financed
<br />the following projects:
<br />PIMS Tax Software
<br />Sheriff Radios
<br />Telephone System
<br />Payroll Software
<br />$ 650, 000
<br />$ 473,436
<br />$ 546,703
<br />329 861
<br />Total $2,000,000
<br />The final costs of both the Payroll Software and PIMS Tax Software were unknown when
<br />the projects were first budgeted. A County Capital Project Budget Amendment is needed
<br />for $979,861 to update the projects with the correct budgets, $650,000 for the PIMS Tax
<br />Software and $329,861 for,the Payroll Software.
<br />Technology -PIMS Tax Software (Project # 30007)
<br />Revenues for this project:
<br /> FY 2010-11
<br />Current Bud et FY 2010-11
<br />Amendment FY 2010-11
<br />Revised
<br />Alternative Financin $1,500,00 $650,000 $2,150,000
<br />Total Project Fundin $1,500,000 $650,000 $2,150,000
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