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3. The County Manager may transfer amounts between contingency funds which <br /> are set aside for a specific project for budgetary shortfalls or upon the <br /> appropriate approval of a change order <br /> 4. The County Manager is authorized to transfer funds from the General Fund or <br /> Capital Reserve Fund to the appropriate fund for projects approved within the <br /> Capital Improvement Plan for the current fiscal year. <br /> 5. Upon notification of funding increases or decreases to existing grants or <br /> revenues, or the award of grants or revenues, the Manager or designee may <br /> adjust budgets to match, including grants that require a County match for which <br /> funds are available. <br /> 6. The Manager or designee may adjust debt financing from estimated projections <br /> to actual funds received. <br /> 7. The County Manager may enter into and execute change orders or amendments <br /> to construction contracts in amounts less than $90,000 when the appropriate <br /> annual budget or capital project ordinance contains sufficient appropriated but <br /> unencumbered funds. <br /> 8. The County Manager may award and execute contracts which are not required to <br /> be bid or which G.S. 143-131 allows to be let on informal bids so long as the <br /> annual budget or appropriate capital project ordinance contains sufficient <br /> appropriated but unencumbered funds for such purposes. <br /> 9. The County Manager may execute contracts with outside agencies to properly <br /> document budgeted appropriations to such agencies where G.S. 153 A-248(b), <br /> 259, 449 and any similar statutes require such contracts. <br /> 10. The County Manager may reject formal bids when deemed appropriate and in <br /> the best interest of Cabarrus County pursuant to G.S. 143-129(a). <br /> 11. The County Manager may reduce revenue projections consistent with prevailing <br /> economic conditions, and also reduce expenditures correspondingly. <br /> Section III. <br /> This ordinance and the budget documents shall be the basis of the financial plan for the <br /> County of Cabarrus. <br /> a. The Finance Director is hereby directed to maintain within the Capital Project <br /> Fund sufficient detailed accounting records to satisfy the requirements of the law. <br /> b. The Finance Director is directed to report, at the request of the Board, on the <br /> financial status of each project element in Section I and on the total revenues <br /> received or claimed. <br /> c. Copies of this capital project ordinance shall be furnished to the Clerk to the <br /> governing Board, and to the Finance Director for direction in carrying out this <br /> project. <br /> Attachment number 5\n <br /> F-3 Page 75 <br />