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<br />CABARRUS COUNTY ADEQUATE FACILITIES <br />SPECIAL REVENUE PROJECT ORDINANCE <br /> <br />BE IT ORDAINED, by the Board of County Commissioners of the <br />County of Cabarrus, North Carolina that, pursuant to Section 13.2 of <br />Chapter 159 of the General Statutes of North Carolina, the following <br />special revenue project ordinance is hereby adopted: <br /> <br />Section 1. The special revenue project authorized is for the <br />purpose of collecting and appropriating Adequate Facility Fees for <br />school facilities, land, architect, improvements or Furniture and <br />Fixtures at the discretion of the Cabarrus County Board of <br />Commissioners. <br /> <br />Section 2. The officers of this unit are hereby directed to <br />proceed with this project within the terms of the Generally Accepted <br />Accounting Principals (GAAP) and the budget contained herein. <br /> <br />Section 3. The following budgeted amounts are appropriated <br />for the projects: <br /> <br />Facility Projects <br /> <br />$1,238,000 <br /> <br />Section 4. The following revenues are anticipated to be <br />available to complete this project: <br /> <br />Adequate Facilities Fees <br />Interest on Investments <br />Contribution from General Fund <br />Contribution from Capital Reserve Fund <br /> <br />$ 656,032 <br />$ 38,303 <br />$ 97,750 <br />$ 445,915 <br /> <br />Section 5. The Finance Officer is hereby directed to maintain <br />within the Special Revenue Fund sufficient detailed accounting <br />records. <br /> <br />Section 6. Funds may be advanced from the General Fund for <br />the purpose of making payments as due. Reimbursement to the General <br />Fund should be made in an orderly and timely manner. <br /> <br />Section 7. The Finance Officer is directed to report, at the <br />request of the Board, on the financial status of each project <br />element in Section 3 and on the total revenues received or claimed. <br /> <br />Section 8. Copies of this special revenue project ordinance <br />shall be furnished to the Clerk to the Governing Board, and to the <br />Budget Officer and the Finance Officer for direction in carrying out <br />this project. <br /> <br />Section 9. At the completion of the project, all unrestricted <br />excess funds are transferred to the Capital Reserve Fund and the <br />Special Revenue Project Ordinance is closed. <br /> <br />Section 10. The County Manager is hereby authorized to transfer <br />revenues and appropriation within an ordinance as contained herein under <br />the following conditions: <br /> <br />a. The Manager may transfer amounts between objects of expenditures <br />and revenues within a function without limitation. <br />b. The Manager may transfer amounts up to $100,000 between functions <br />of the same ordinance. <br /> <br />F-II <br />