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April 18, 2016 (Regular Meeting) <br />Page 2762 <br />b. The Finance Director is directed to report, at the request of the <br />Board, on the financial status of each project element in Section <br />I and on the total, revenues received or claimed. <br />c. Copies of this capital project ordinance shall be furnished to <br />the Clerk to the governing Board, and to the Finance Director for <br />direction in carrying out this project. <br />d. At the completion of a construction project, all unrestricted <br />excess funds are transferred to the General Fund and the portion <br />of the Capital. Project associated with the project is closed. <br />Adopted this the 1Bth day of April, 2016. <br />CABARRUS COUNTY BOARD OF COMMISSIONERS <br />BY: /s/ Stephen M. Morris <br />Stephen M. Morris, Chairman <br />ATTEST: <br />/s/ Megan Smit <br />Clerk to the Board <br />CABARRUS COUNTY CAPITAL RESERVE <br />CAPITAL PROTECT BUDGET ORDINANCE <br />Ordinance No. 2016 -07 <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 for the purpose of accumulating and <br />appropriating funds specifically for future County and School <br />capital projects. <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 />Contributions from General Fund $63,853,907 <br />Contributions from CVB 843,617 <br />Contribution from Capital Projects Fund 6,600 <br />Interest on Investments 329,142 <br />TOTAL REVENUES $65,033,266 <br />D. The following appropriations are made as listed: <br />Odell 3 -5 Elementary School <br />$19,755,I75 <br />Mt. Pleasant Middle School Replacement <br />3,237,692 <br />Royal Oaks Elementary <br />1,992,600 <br />Kannapolis Middle School <br />1,222,100 <br />School Contingency <br />3,235,336 <br />County Facility Projects <br />5,796,633 <br />Park Projects <br />4,243,573 <br />Park Projects /CVB <br />843,617 <br />Other County Capital Projects <br />22,066,497 <br />Community College Renovations <br />280,043 <br />Harrisburg EMS Station <br />375,000 <br />Cabarrus County Schools - Buses <br />875,000 <br />Cabarrus County Schools - Mobile Units <br />1,110,000 <br />TOTAL EXPENDITURES <br />$65,033,266 <br />GRAND TOTAL - REVENUES <br />$65,033,266 <br />GRAND TOTAL - EXPENDITURES <br />$65,033,266 <br />Section II. <br />