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B. The County Manager or designee is hereby authorized to transfer appropriations <br />within or between funds, or modify revenue and expenditure projections as contained <br />herein under the following conditions: <br />1. The Manager may transfer amounts between objects of expenditure and <br />revenues 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 <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 />Attachment number 8 \n <br />F -5 Page 65 <br />