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AG 2014 06 16
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AG 2014 06 16
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Last modified
6/18/2014 9:32:09 AM
Creation date
11/27/2017 10:47:36 AM
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Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
6/16/2014
Board
Board of Commissioners
Meeting Type
Regular
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Budget Ordinance <br />Section II. <br />There is hereby levied a tax at the rate of 70 cents per one hundred dollars valuation of property listed for taxes <br />as of January 1, 2014, for the purpose of raising the revenue listed as "CURRENT AD VALOREM TAX LEVY" in the <br />General Fund. <br />This rate of tax is based on an estimated total valuation of property for the purposes of taxation of <br />$19,364,626,398, at an estimated combined collection rate of 96.67 percent (97.29% for real and personal and <br />89.19% for vehicles). The estimated rate of collections is based on the fiscal year ending 2013. An estimated <br />total valuation of Real, Personal and Public Service property is $17,819,635,798 and vehicle of $1,544,990,600 <br />Section III. <br />A. Special appropriations to non - profit organizations shall be distributed after the execution of an agreement <br />which ensures that all County funds are used for statutorily permissible public purposes. <br />B. The County Manager and /or Finance Director, or designee is hereby authorized to transfer appropriations <br />within or between funds, or modify revenue and expenditure projections, as contained herein under the <br />following conditions: <br />1. The Finance Director may transfer amounts between objects of expenditure within a function. <br />2. The County Manager may transfer amounts between objects of expenditures and revenues without <br />limitation. <br />3. The County Manager may not transfer any amounts between funds or from any contingency <br />appropriation within any fund without action of the Board of Commissioners, except as specified below <br />for budget shortfalls and change orders. <br />4. The County Manager may transfer amounts between contingency funds which are set aside for a <br />specific project for budgetary shortfalls or upon the appropriate approval of a change order. <br />5. The County Manager is authorized to transfer funds from the General Fund or Capital Reserve Fund to <br />the appropriate fund for projects approved within the Capital Improvement Plan for the current fiscal <br />year. <br />6. Additional authority is granted to the Finance Director or designee to transfer amounts within and <br />between funds for the sole purpose of funding salary and benefits adjustments consistent with the <br />Cabarrus County Personnel Management Policy and the Cabarrus County Personnel Ordinance. <br />7. Upon notification of funding increases or decreases to existing grants or revenues, or the award of <br />grants or revenues, the Manager or Designee may adjust budgets to match, including grants that require <br />a County match for which funds are available. <br />8. The Manager, Finance Director, or designee may create debt financing amendments from estimated <br />projections upon approval by the Board of Commissioners of the debt financing and adjust as needed <br />upon closing. <br />Attachment number <br />G -5 Page 297 <br />
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