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June 20, 2026 (Regular Meeting) <br />Page 2788 <br />modify revenue and expenditure projections, as contained herein under <br />the following conditions: <br />1. The Finance Director may transfer amounts between objects of <br />expenditure within a function. <br />2. The County Manager may transfer amounts between objects of <br />expenditures and revenues without limitation. <br />3. The County Manager may not transfer any amounts between funds or <br />from any contingency appropriation within any fund without action <br />of the Board of Commissioners, except as specified below for budget <br />shortfalls and change orders. <br />4. The County Manager may transfer amounts between contingency funds <br />which are set aside for a specific project for budgetary shortfalls <br />or upon the appropriate approval of a change order. <br />5. The County Manager is authorized to transfer funds from the General <br />Fund or Capital Reserve Fund to the appropriate fund for projects <br />approved within the Capital Improvement Plan for the current fiscal <br />year. <br />6. Additional authority is granted to the Finance Director or designee <br />to transfer amounts within and between funds for the sole purpose <br />of funding salary and benefits adjustments consistent with the <br />Cabarrus County Personnel Management Policy and the Cabarrus County <br />Personnel Ordinance. <br />7. Upon notification of funding increases or decreases to existing <br />grants or revenues, or the award of grants or revenues, the Manager <br />or Designee may adjust budgets to match, including grants that <br />require a County match for which funds are available. <br />8. The Manager, Finance Director, or designee may create debt <br />financing amendments from estimated projections upon approval by <br />the Board of Commissioners of the debt financing and adjust as <br />needed upon closing. <br />9. The County Manager may enter into and execute change orders or <br />amendments to construction contracts in amounts less than $90,000 <br />when the appropriate annual budget or capital project ordinance <br />contains sufficient appropriated but unencumbered funds. <br />10. The County Manager may execute contracts which are not required to <br />be bid or which G.S. 143 -131 allows to be let on informal bids so <br />long as the annual budget or appropriate capital project ordinance <br />contains sufficient appropriated but unencumbered funds for such <br />purposes. <br />11. The County Manager may execute contracts with outside agencies to <br />properly document budgeted appropriations to such agencies where <br />G.S. 153 A-- 248(b), 259, 449 and any similar statutes require such <br />contracts. <br />12. The County Manager may reject formal bids when deemed appropriate <br />and in the best interest of Cabarrus County pursuant to G.S. 143- <br />129 (a) . <br />13. The County Manager may reduce revenue projections consistent with <br />prevailing economic conditions, and also reduce expenditures <br />correspondingly. <br />14. The County Manager may assign fund balance for unpaid Economic <br />Development Incentives until contractual obligations are met. <br />C. The appropriations for Cabarrus County Schools and Kannapolis City <br />Schools have been allocated by category. Cabarrus County Schools and <br />Kannapolis City Schools must obtain the approval of the Board of <br />Commissioners for any amendment to their respective budgets which would <br />increase or decrease the amount of County appropriations allocated by <br />category by more than ten percent. <br />Section IV. <br />This ordinance and the budget documents shall be the basis for the <br />