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o~D- ac~la - 005 <br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: February 21, 2012 <br />Action Age~ a h <br />Item No. <br />SUBJECT: Fiscal Year 2011-12 Budget Amendment # 6 <br />DEPARTMENT: Financial Services <br />PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): <br />Attachment 1. Budget as Amended <br />Spreadsheet <br />Attachment 2. Year-To-Date Budget <br />Summary <br />INFORMATION CONTACT: <br />Clarence Grier, (919) 245-2453 <br />PURPOSE: To approve budget and grant project ordinance amendments for fiscal year 2011- <br />12. <br />BACKGROUND: <br />Carry Forwards <br />On June 30 of each year, there are instances where approved funding for certain Board <br />approved initiatives is not fully expended at the end of the fiscal year, and the <br />unexpended monies revert to the County's fund balance. In order for the County to fulfill <br />financial obligations related to these appropriations, the Board must re-appropriate fund <br />balance in the ne~ fiscal year for these planned expenditures. For FY 2011-12, the <br />General Fund Balance appropriation request is $21,974. These carry forwards consist <br />of the following: (1) $5,523 in NC Matching Grant funds within the Soil and Water <br />division; (2) $14,250 in donations to the Little River Park for the purchase of new park <br />equipment; and (3) $2,201 in donations for equipment for Fairview Park. <br />In order to carry funds forward and authorize their expenditure in fiscal year 2011-12, it <br />is necessary for the Board to appropriate $21,974 from the General Fund's fund <br />balance. (See Attachment 1, column 1) <br />Library <br />2. In accordance with the Memorandum of Understanding befinreen Caswell, Person and <br />Orange counties, the Transition Plan outlines the asset purchase of the Honda Civic <br />Hybrid previously owned by Hyconeechee Regional Library. The estimated fair market <br />value, as determined in Kelly Blue Book, is $11,000 and will be divided equally among <br />the three counties. This budget amendment provides for an appropriation of $7,334 <br />from the County's General Fund balance to pay Caswell and Person counties their <br />