AG 2013 02 18 - Laserfiche WebLink

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CABARRUS COUNTY CAPITAL RESERVE CAPITAL PROJECT ORDINANCE BE IT ORDAINED, by the Board of County Commissioners of the County of Cabarrus, North Carolina, that, pursuant to Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the following capital project ordinance is hereby adopted: Section 1. The project authorized is for the purpose of accumulating and appropriating funds specifically for future County and School capital projects. Section 2. The officers of this unit are hereby directed to proceed with this project within the terms of the Generally Accepted Accounting Principles (GAAP) and the budget contained herein. Section 3. The following budgeted amounts are appropriated for the projects: Capital Improvement Projects: School Projects $10,639,297 County Facility Projects $12,707,810 Park Projects /CVB $ 398,000 Park Projects $ 6,045,282 Tower /Communication Projects $ 2,172,000 Other County Capital Projects $ 1,902,552 Community College Renovations $ 280,043 Total $34,144,984 Section 4. The following revenues are anticipated to be available to complete this project: Contributions from the General Fund $33,460,842 Contributions from CVB $ 398,000 Interest on Investments $ 286,142 Total $34,144,984 Section 5. The Finance Officer is hereby directed to maintain within the Capital Projects Fund sufficient detailed accounting records. Section 6. Funds may be advanced from the General Fund for the purpose of making payments as due. Reimbursement to the General Fund should be made in an orderly and timely manner. Section 7. The Finance Officer is directed to report, at the request of the Board, on the financial status of each project element in Section 4 and on the total revenues received or claimed. Section 8. Copies of this project ordinance shall be furnished to the Clerk to the Governing Board, and to the Budget Officer and the Finance Officer for direction in carrying out this project. Attachment number 1 F -3 Page 74