Halifax County commissioners today approved the transfer of $6,987,893 of American Rescue Plan Act enabled funds into the capital reserve account and earmarked them for specific improvements.
In a memo to the board, County Attorney Glynn Rollins wrote that the board’s earlier direction for future use of ARPA-enabled funds was the transfer of nearly $7 million to the capital reserve account.
As required by law, a resolution designates the capital projects for which the funds are to be held in reserve.
The resolution also requires that interest accrued on the fund balance be apportioned to the various capital projects on a pro-rata basis.
Prior to today's approval, the total in the capital reserve fund was $881,153.87 — $850,000 in principal and $31,153.87 in interest.
Projects currently earmarked include:
$1.1 million for a new county vehicle and school bus garage
$1 million for improvements to the 4-H Rural Life Center
$3.6 million in water and sewer infrastructure improvements
$400,000 for renovations to the Historic Courthouse on King Street
$887,893 for school facilities
“This is a great way of being proactive and thinking of the future needs of our county,” board Chair Vernon Bryant said.