Laserfiche WebLink
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 County 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 County construction contracts in amounts less than $90,000 <br />when the appropriate annual budget or capital project ordinance contains <br />sufficient appropriated but 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 appropriation 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 <br />Projects Fund sufficient detailed accounting records to satisfy the <br />requirements of the law. <br />b. The Finance Officer 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 />d. At the completion of a construction project, all unrestricted excess funds are <br />transferred to the General Fund and the portion of the Capital Project <br />Ordinance associated with the project is closed. <br />Attachment number 7 \n <br />G -2 Page 375 <br />