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March 21, 2015 (Regular Meeting) Page 2678 <br />PUBLIC SCHOOL BUILDING CAPITAL PROJECTS FUND <br />BUDGET ORDINANCE <br />BE IT ORDAINED by the Board of Commissioners of Cabarrus County, North <br />Carolina that, Pursuant to Section 13.2 of Chapter 159 of the General <br />Statutes of North Carolina, the following capital project ordinance is hereby <br />adopted: <br />Section I. <br />A. The project authorized is the various County construction and <br />renovation related projects. Details of the projects are listed in <br />section C. of this Project Ordinance. <br />B. The officers of this unit are hereby directed to proceed with this <br />capital project within the terms of the Generally Accepted <br />Accounting Principles (GAAP) and the budget contained herein. <br />C. It is estimated that the following revenues will be available to <br />complete capital projects as listed. <br />Lottery Proceeds $16,419,308 <br />Lottery Proceeds - Rowan County 300,000 <br />TOTAL REVENUES $16,719,308 <br />D. The following appropriations are made as listed. <br />Debt Service $16,419,308 <br />Debt Service - Rowan County 300,000 <br />TOTAL EXPENDITURES $16,719,308 <br />GRAND TOTAL - REVENUES $16,719,308 <br />GRAND TOTAL - EXPENDITURES $16,719,308 <br />Section II. <br />A. Special appropriations to non- profit organizations shall be <br />distributed after the execution of an agreement which ensures that <br />all County funds are used for statutorily permissible public <br />purposes. <br />B. The County Manager or designee is hereby authorized to transfer <br />appropriations within or between funds, or modify revenue and <br />expenditure projections as contained herein under the following <br />conditions: <br />1. The Manager may transfer amounts between objects of expenditure <br />and revenues within a function without limitation. <br />2. The County Manager may transfer amounts up to $500,000 between <br />functions of the same fund. <br />3. The County Manager may transfer amounts between contingency funds <br />which are set aside for a specific project for budgetary <br />shortfalls or upon the appropriate approval of a change order. <br />4. The County Manager is authorized to transfer funds from the <br />General Fund or Capital Reserve Fund to the appropriate fund for <br />projects approved within the Capital Improvement Plan for the <br />current fiscal year. <br />5. Upon notification of funding increases or decreases to existing <br />grants or revenues, or the award of grants or revenues, the <br />Manager or designee may adjust budgets to match, including grants <br />that require a County match for which funds are available. <br />6. The 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 construction contracts in amounts less than $90,000 <br />