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Commissioners Brown & Keigher - Register of Deeds - To Appropriate Restricted Automation Preservation Fund Balance to Fund Record Vault Expansion ($8,000)
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STAFF CONTACT
Jonathan L. Fletcher - Register of Deeds - 704-862-7535
BUDGET IMPACT
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General Fund: Appropriate $8,000 in restricted Automation Funds fund balance. Increase Automation Funds expenditures by $8,000. No additional County funds.
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BACKGROUND
State law requires that ten percent (10%) of the fees collected pursuant to G.S. 161-10 and retained by the county, or six dollars and twenty cents ($6.20) in the case of a fee collected pursuant to G.S. 161-10(a)(1a) for the first page of a deed of trust or mortgage, shall be set aside annually and placed in a nonreverting Automation Enhancement and Preservation Fund, the proceeds of which shall be expended on computer or imaging technology and needs associated with the preservation and storage of public records in the office of the Register of Deeds.
As of the FY24 audit, Automation Enhancement and Preservation Fund fund balance totaled $1,714,050. This Board Action and Budget Change Request appropriates $8,000 of the restricted funds for the following expenditures:
1. Register of Deeds Record Vault Expansion
POLICY IMPACT
N/A
ATTACHMENTS
Budget Change Request (BCR)