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County staff present FY26 reappropriations and record LOB issuance costs; financing rate under 4% noted
Summary
Staff provided the annual list of FY26 funds to carry into FY27 and presented a related LOB budget amendment that records issuance costs and the first interest payment expected in 2027; commissioners noted the county secured a financing rate under 4% for projects such as Northwest Cabarrus Elementary.
Finance staff presented the routine annual request to reappropriate funds budgeted in FY26 for carryover into FY27, explaining many items are grant-timed or calendar-year projects that require appropriations to complete planned purchases. The reappropriation list will be included with the budget amendment on the regular meeting agenda.
Jim briefed the board on an associated LOB budget amendment to allocate revenue and costs for projects funded in the July issuance, including cost-of-issuance fees and recording the first interest payment anticipated in May or June 2027. Commissioners noted the county obtained a financing rate under 4% for a project cited by staff (Northwest Cabarrus Elementary). Staff said the action is for recording purposes and will be moved to consent at the regular meeting.
