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OZD -90H - ooq <br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: February 15, 2011 <br />Action Agenda <br />Item No. — h <br />SUBJECT: School Capital Projects Budget Ordinance Amendments — Budget Amendment <br />#7 -B <br />DEPARTMENT: Financial Services PUBLIC HEARING: (Y /N) No <br />ATTACHMENT(S): <br />Attachment 1: Reconciliation of Under- <br />funded Projects as of 6/30/10 ' <br />Attachment 2: Capital Project Monitoring <br />and Administration Procedures <br />INFORMATION CONTACT: <br />Clarence Grier, (919) 245 -2453 <br />Michael Talbert, (919) 245 -2153 <br />PURPOSE: To approve Budget Amendment #7 -13 appropriating $192,719 of fund balance in <br />the General Fund for transfer to the School Capital Project 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 has been followed <br />the past two years with funds appropriated to fund under - funded County and School Capital <br />Projects. Funds transferred from completed projects to fund under - funded projects, and projects <br />completed in the past 10 years have been closed. <br />As part of the on -going process of reviewing School Capital Projects, County staff has met with <br />both School Systems to reconcile project budgets as of June 30, 2010. This reconciliation has <br />led to the need to appropriate additional revenues to fund under - funded projects. Attachment 1 <br />lists under - funded and over - funded projects and the net shortfall in the Schools Capital Projects <br />Fund as of June 30, 2010. After completed projects were closed and resources reallocated <br />within the School Capital Projects Fund, the remaining revenue needed to fund under - funded <br />projects is $192,719. <br />On June 16, 2009 the Board was provided a copy of a new internal administrative monitoring <br />procedure for School Capital Project Ordinances. Financial Services is following that procedure <br />by: <br />1. Meeting with both school systems twice a year to compare records and resolve any <br />differences. <br />2. Closing out project budgets when a project is complete. <br />3. Communicate with both school systems to reconcile accounting records as needed to <br />address changes in priorities, funding issues, changes in funding sources and bring <br />these issues to the Board as needed. <br />