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AG 2017 01 17
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AG 2017 01 17
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Last modified
1/20/2017 11:55:41 AM
Creation date
11/27/2017 10:27:07 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
1/17/2017
Board
Board of Commissioners
Meeting Type
Regular
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CABARRUS COUNTY <br /> LIMITED OBLIGATION BONDS 2017 PROJECT <br /> BUDGET ORDINANCE <br /> BE IT ORDAINED by the Board of Commissioners of Cabarrus County, North Carolina <br /> that, Pursuant to Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the <br /> following capital project ordinance is hereby adopted: <br /> Section I. <br /> A. The project authorized is for the construction of a Parking Deck. Details of the project <br /> are listed in section C. of this Project Ordinance. <br /> B. The officers of this unit are hereby directed to proceed with this capital project within <br /> the terms of the Generally Accepted Accounting Principles (GAAP) and the budget <br /> contained herein. <br /> It is estimated that the following revenues will be available to complete capital <br /> projects as listed. <br /> General Fund Contribution $802,000 <br /> Capital Reserve Contribution 7,920,651 <br /> TOTAL REVENUES $8,722,651 <br /> C. The following appropriations are made as listed. <br /> Parking Deck Downtown Concord $802,000 <br /> New Cabarrus County High School 7,920,651 <br /> TOTAL EXPENDITURES $8,722,651 <br /> GRAND TOTAL—REVENUES $8,722,651 <br /> GRAND TOTAL— EXPENDITURES $8,722,651 <br /> Section II. <br /> A. Special appropriations to non-profit organizations shall be distributed after the <br /> execution of an agreement which ensures that all County funds are used for statutorily <br /> permissible public purposes. <br /> B. The County Manager or designee is hereby authorized to transfer appropriations within <br /> or between funds, or modify revenue and expenditure projections as contained herein <br /> under the following conditions: <br /> 1. The Manager may transfer amounts between objects of expenditure and revenues <br /> within a function without limitation. <br /> 2. The County Manager may transfer amounts up to $500,000 between functions of <br /> the same fund. <br /> 3. The County Manager may transfer amounts between contingency funds which are <br /> set aside for a specific project for budgetary shortfalls or upon the appropriate <br /> approval of a change order. <br /> Attachment number 2\n <br /> G-3 Page 75 <br />
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