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<br /> School Capital Project Ordinance (Elementary #11)
<br /> 7. At its February 21, 2012 meeting, the Board of County Commissioners approved as part
<br /> of resolution 2012-024 the issuance of Limited Obligation Bonds to finance the
<br /> construction of Chapel Hill-Carrboro City Schools Elementary #11 in the amount of
<br /> $21,500,000. The financing was closed on March 29, 2012. This budget amendment
<br /> provides for these financing proceeds and amends the Elementary #11 Capital Project
<br /> Ordinance as follows:
<br /> Revenues for this project:
<br /> FY 2011-12 FY 2011-12 FY 2011-12
<br /> Current Budget Amendment Revised
<br /> Lottery Proceeds $974,000 $0 $974,000
<br /> Alternative Financing $500,000 $21,500,000 $22,000,000
<br /> From General Fund $663,196 $0 $663,196
<br /> Total Project Funding $2,137,196 $21,500,000 $23,637,196
<br /> A ppropriated for this project:
<br /> FY 2011-12 FY 2011-12 FY 2011-12
<br /> Current Budget Amendment Revised
<br /> Professional Services $974,000 $0 $974,000
<br /> Construction $1,163,196 $21,500,000 $22,663,196
<br /> Total Costs $2,137,196 $21,500,000 $23,637,196
<br /> Cooperative Extension (4-H Fund)
<br /> 8. Orange County 4-H has been selected by Triangle Community Foundation as a "Send a
<br /> Kid to Camp" partner for the 2012 camp season, and has received grant funds totaling
<br /> $4,650 for use in FY 2011-12 and FY 2012-13. Orange County 4-H will receive $700 in
<br /> FY 2011-12, and $3,930 in FY 2012-13. These grant funds will be used for scholarships
<br /> for 4-H kids to attend the following summer camps: Summer Sizzle, State 4-H Camp,
<br /> Citizenship Focus, and 4-H Congress.
<br /> This budget amendment provides for the receipt and budgeting of the $700, in the 4-H
<br /> Agency Fund, for use in FY 2011-12. The remaining grant funds of $3,930 will be
<br /> budgeted within the agency fund in FY 2012-13. (See Attachment 1, column 6)
<br /> FINANCIAL IMPACT: Financial impacts are included in the background information above.
<br /> RECOMMENDATION(S): The Manager recommends the Board of County Commissioners
<br /> approve budget, grant, and capital project ordinance amendments for fiscal year 2011-12.
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