BC 2016 05 16 Regular Meeting - Laserfiche WebLink

Home Browse Search

May 16, 2016 (Regular Meeting) Page 2731 Harold Winkler Middle School 23,171,817 Hickory Ridge Road Extension 1,572,857 AL Brown High School 9,723,664 Legal and Debt Expenses 16,605,719 Total $ 98,817,571 Section 4. The following revenues are anticipated to be available to complete this project: Proceed from COPS 85,170,000 Contribution - Capital Projects Fund (Lottery) 5,639,943 Contribution - Special Revenue Fund (APFO Fees) 5,115,855 Contribution - Capital Reserve Fund 423,920 Premium on Debt Issue 2,292,583 Interest Income 172,040 Donations 3,230 Total $ 98,817,571 Section 5. The Finance Officer is hereby directed to maintain within the Capital Project Fund sufficient detailed accounting records to satisfy the terms of debt financing resolution. Section 6. Funds may be advanced from the General Fund for the purpose of making payments as due. Reimbursement requests should be made to the grantor agencies in an orderly and timely manner. Section 7. The Finance Officer is directed to report, at the request of the Board, an the financial status of each project element in Section 3 and on the total revenues received or claimed. Section 8. Copies of this capital project ordinance shall be furnished to the Cleric to the Governing Board, and to the Budget Officer and the Finance Officer for direction in carrying out this project. Section 9. At the completion of each individual project, all unrestricted excess funds are transferred to the General Fund and the Capital Project Ordinance is closed. Section 10. The County Manager is hereby authorized to transfer revenues and appropriation within an ordinance as contained herein under the following conditions: a. The Manager may transfer amounts between objects of expenditures and revenues within a function without limitation. b. The Manager may transfer amounts up to $100,000 between functions of the same ordinance. c. The Manager may transfer amounts between contingency funds which are set aside for a specific project for budgetary shortfalls or upon the appropriate approval of a change order by the School Systems. Adopted this 16th day of May, 2016. CABARRUS COUNTY BOARD OF COMMISSIONERS BY: /s/ Stephen M. Morris Stephen M. Morris, Chairman ATTEST: /s/ Megan Smit Clerk to the Board ordinance No. 2416 -17 CABARRUS COUNTY CONSTRUCTION AND RENOVATION PROJECT BUDGET ORDINANCE BE IT ORDAINED by the Board of Commissioners of Cabarrus County, 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: