Browse
Search
ORD-2014-006 Ordinance approving Budget Amendment #4-C for Fiscal Year 2013-14 Related to CHCCS Capital Project Ordinances
OrangeCountyNC
>
Board of County Commissioners
>
Ordinances
>
Ordinance 2010-2019
>
2014
>
ORD-2014-006 Ordinance approving Budget Amendment #4-C for Fiscal Year 2013-14 Related to CHCCS Capital Project Ordinances
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
3/13/2019 9:48:39 AM
Creation date
6/3/2014 11:35:45 AM
Metadata
Fields
Template:
BOCC
Date
2/4/2014
Meeting Type
Regular Meeting
Document Type
Ordinance
Agenda Item
6g
Document Relationships
Agenda - 02-04-2014 - 6g
(Linked To)
Path:
\Board of County Commissioners\BOCC Agendas\2010's\2014\Agenda - 02-04-2014 - Regular Mtg.
Minutes 02-04-2014
(Attachment)
Path:
\Board of County Commissioners\Minutes - Approved\2010's\2014
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
5
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
ORD- 2014 -006 <br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: February 4, 2014 <br />Action Agenda <br />Item No. 6 -g <br />SUBJECT: Application for North Carolina Education Lottery Proceeds for Chapel Hill — <br />Carrboro City Schools (CHCCS) and Contingent Approval of Budget <br />Amendment #4 -C Related to CHCCS Capital Project Ordinances <br />DEPARTMENT: Financial Services <br />ATTACHMENT(S): <br />Attachment 1. CHCCS — Debt Service <br />Application <br />PUBLIC HEARING: (Y /N) No <br />INFORMATION CONTACT: <br />Clarence Grier, (919) 245 -2453 <br />PURPOSE: To approve an application to the North Carolina Department of Public Instruction <br />(NCDPI) to release funds from the NC Education Lottery account related to FY 2013 -14 debt <br />service payments for Chapel Hill — Carrboro City Schools, and to approve Budget Amendment <br />#4 -C (amended School Capital Project Ordinances), contingent on the State's approval of the <br />application. <br />BACKGROUND: Both School Systems have previously presented approved resolutions from <br />their respective Boards requesting that the County modify its Capital Funding Policy by applying <br />accumulated lottery funds for debt service payments, and permitting current year withdrawals <br />immediately after the State's quarterly lottery fund allocations. This expedites both the <br />application process and the receipt of funds for the school systems. <br />Currently, the accumulated available lottery funds for Chapel Hill — Carrboro City Schools <br />(CHCCS) is $256,087. The attached application requests the State to release lottery funds to <br />cover debt service for the Chapel Hill — Carrboro City School system. <br />Budget Amendment #4 -C provides for the receipt of the Lottery Funds, contingent on State <br />approval of the application, and substitutes the amount of Lottery Funds approved for debt <br />service as additional Pay -As- You -Go (PAYGO) funds for FY 2013 -14 for CHCCS capital needs <br />and projects, and amends the budgets for the following CHCCS capital projects: <br />
The URL can be used to link to this page
Your browser does not support the video tag.