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<br />Piedmont Food and Agricultural Processing (PFAP) Center
<br />8. The Piedmont Food and Agricultural Processing Center held its grand opening on
<br />October 21, 2011, and has now moved fully into the operational phase of the project.
<br />The Center is currently managed by Orange County under the guidance of an Inter -local
<br />Cooperative Agreement between Alamance, Chatham, Durham, and Orange counties.
<br />Up to this point, all financial activity related to the project has been processed through
<br />the Capital Project Fund.
<br />As part of the grant funds received, the Center was awarded $479,000 in North Carolina
<br />Tobacco Trust Funds, with $75,000 being designated for support in the early stages of
<br />the Center's operations. Now that the Center is in operation, an Agency Fund is being
<br />established, with an effective date of July 1, 2011, to handle all operational activities. Of
<br />the $75,000 designated for operational support, $17,856 was spent on operational
<br />related items prior to June 30, 2011. This budget amendment provides for the transfer
<br />of the remaining operational funds of $57,144 from the PFAP Capital Project to the
<br />newly created PFAP Agency Fund, and amends the following Capital Project Ordinance
<br />and creates the new Agency Fund. Once the Center has completed two months of full
<br />operations (November and December 2011), staff anticipates bringing to the BOCC, at
<br />its January 24, 2012 meeting, an amended Agency Fund budget reflecting its projected
<br />revenues and expenditures for the remainder of FY 2011 -12. (See Attachment 1,
<br />column #6)
<br />Piedmont Food and Agricultural Processing Center ($- 57,144) — Capital Project # 10043
<br />Revenues for this proiect:
<br />Appropriated for this oroiect:
<br />Current FY
<br />2011 -12
<br />FY 2011 -12
<br />Amendment
<br />FY 2011 -12
<br />Revised
<br />Grant Funds
<br />$1.400,369
<br />$(57,144)
<br />$1,343,225
<br />Total Project Funding
<br />$1,400,369
<br />$ 57,144
<br />$1,343,225
<br />Appropriated for this oroiect:
<br />Piedmont Food and Agricultural Processing Center ($57,144) — Agency Fund # 79
<br />Revenues for this proiect:
<br />Current FY
<br />2011 -12
<br />FY 2011 -12
<br />Amendment
<br />FY 2011 -12
<br />Revised
<br />PFAP Center
<br />$1,400,369
<br />$(57,144)
<br />$1,343,225
<br />Total Costs
<br />$1,400,369
<br />$(57,144)
<br />$1,343,225
<br />Piedmont Food and Agricultural Processing Center ($57,144) — Agency Fund # 79
<br />Revenues for this proiect:
<br />Appropriated for this proiect:
<br />Current FY
<br />2011 -12
<br />FY 2011 -12
<br />Amendment
<br />FY 2011 -12
<br />Revised
<br />Tobacco Trust Funds
<br />$0
<br />$57,144
<br />$57,144
<br />Total Project Funding
<br />$0
<br />$57,144
<br />$57,144
<br />Appropriated for this proiect:
<br />Current FY
<br />2011 -12
<br />FY 2011 -12
<br />Amendment
<br />FY 2011 -12
<br />Revised
<br />PFAP Center Operations
<br />$0
<br />$57,144
<br />$57,144
<br />Total Costs
<br />$0
<br />$57,144
<br />$57,144
<br />
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