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32 <br /> <br />Slide #53 <br /> <br /> Chair Bedford asked for guidance on the Active Capital Project Summary on page 165. <br /> Kirk Vaughn said each project has a capital funding ordinance and makes the funding <br />available for the life of the project. He said the sheet provides transparency of what the balance <br />is for each of those projects. He said that some amounts have been spent or encumbered and <br />what is leftover is available. He said it is organized by fund and more broadly, by purpose. He <br />said that a project is closed when there is no more activity. <br /> Commissioner Fowler asked where the money goes if there is leftover and the project is <br />complete. <br /> Kirk Vaughn said if it’s cash it can go to other projects, and if it is borrowed then they will <br />not borrow. <br /> Commissioner Richards said that is important because you don’t borrow the money until <br />it is needed. <br /> Kirk Vaughn said any project authorized is included in the debt model and they keep track <br />of all of them. <br /> Bonnie Hammersley said LGC requires bids in hand to borrow. <br /> Chair Bedford said that they had a budget amendment for Lands Legacy and she does <br />not recall exactly how they changed it. She said it seems to be more continual. <br /> Kirk Vaughn said the budget amendment for that was pre-planned for a grant match. He <br />said when you see the available balance, that represents the county’s authority to spend. He said <br />those funds do not get spent until they have the project and they will do a budget amendment <br />when the grant is received. <br /> Commissioner Fowler asked how projects with negative funding are covered. <br /> Kirk Vaughn said if the project is overspent, it will have a budget amendment or if it is <br />closed out, the balance is absorbed. <br /> Chair Bedford thanked staff for their work on the CIP. <br /> <br />