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August 7, 2017 (Work Session) Page 3241 <br /> 2. The County Manager may transfer amounts up to $500, 000 between <br /> functions of the same fund. <br /> 3. The County Manager may transfer amounts between contingency funds <br /> which are set aside for a specific project for budgetary <br /> shortfalls or upon the appropriate approval of a change order <br /> 4 . The County Manager is authorized to transfer funds from the <br /> General Fund or Capital Reserve Fund to the appropriate fund for <br /> projects approved within the Capital Improvement Plan for the <br /> current fiscal year. <br /> S. Upon notification of funding increases or decreases to existing <br /> grants or revenues, or the award of grants or revenues, the <br /> Manager or designee may adjust budgets to match, including grants <br /> that require a County match for which funds are available. <br /> 6. The Manager or designee may adjust debt financing from estimated <br /> projections to actual funds received. <br /> 7. The County Manager may enter into and execute change orders or <br /> amendments to construction contracts in amounts less than $90, 000 <br /> when the appropriate annual budget or capital project ordinance <br /> contains sufficient appropriated but unencumbered funds. <br /> 8. The County Manager may award and execute contracts which are not <br /> required to be bid or which G.S. 143-131 allows to be let on <br /> informal bids so long as the annual budget or appropriate capital <br /> project ordinance contains sufficient appropriated but <br /> unencumbered funds for such purposes. <br /> 9. The County Manager may execute contracts with outside agencies <br /> to properly document budgeted appropriations to such agencies <br /> where G.S. 153 A-248 (b) , 259, 449 and any similar statutes <br /> require such contracts. <br /> 10. The County Manager may reject formal bids when deemed appropriate <br /> and in the best interest of Cabarrus County pursuant to G.S. 143- <br /> 129 (a) . <br /> 11. The County Manager may reduce revenue projections consistent with <br /> prevailing economic conditions, and also reduce expenditures <br /> correspondingly. <br /> 12. The Manager, Finance Director, or designee may create debt <br /> financing amendments from estimated projections upon approval by <br /> the Board of Commissioners of the debt financing and adjust as <br /> needed upon closing. <br /> Section III. <br /> This ordinance and the budget documents shall be the basis of the financial <br /> plan for the County of Cabarrus. <br /> a. The Finance Director is hereby directed to maintain within the <br /> Capital Project Fund sufficient detailed accounting records to <br /> satisfy the requirements of the law. <br /> b. The Finance Director is directed to report, at the request of <br /> the Board, on the financial status of each project element in <br /> Section I and on the total revenues received or claimed. <br /> c. Copies of this capital project ordinance shall be furnished to <br /> the Clerk to the governing Board, and to the Finance Director <br /> for direction in carrying out this project. <br /> d. At the completion of a construction project; all unrestricted <br /> excess funds are transferred to the General Fund and the portion <br /> of the Capital Project associated with the project is closed. <br /> Adopted this 21st day of August 2017. <br /> CABARRUS COUNTY BOARD OF COMMISSIONERS <br /> BY: /s/ Stephen M. Morris <br /> Stephen M. Morris, Chairman <br />