BC 2016 07 18 Regular Meeting - Laserfiche WebLink

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July 18, 2016 (Regular Meeting) Page 2822 Principles (GAAP) and the budget contained herein. C. It is estimated that the following revenues will be available to complete capital projects as listed. Capital Reserve Contribution $6,473,992 General Fund Contribution 1,336,500 Limited Obligation Bonds 84,944,452 Public School Building - Lottery funds 1,600,000 Interest Income 18,818 TOTAL REVENUES $94,373,762 D. The following appropriations are made as listed. Royal Oaks Elementary School $21,781,200 Mt. Pleasant Middle School 33,870,692 Kannapolis Middle School 37,981,500 Legal Fees /Closing Costs 740,370 TOTAL EXPENDITURES $94,373,762 GRAND TOTAL - REVENUES $94,373,762 GRAND TOTAL - EXPENDITURES $94,373,762 Section II. A. Special appropriations to non- profit organizations shall be distributed after the execution of an agreement which ensures that all County funds are used for statutorily permissible public purposes. B. The County Manager or designee is hereby authorized to transfer appropriations within or between funds, or modify revenue and expenditure projections as contained herein under the following conditions: 1. The Manager may transfer amounts between objects of expenditure and revenues within a function without limitation. 2. The County Manager may transfer amounts up to $500,000 between functions of the same fund. 3. The County 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. 4. The County Manager is authorized to transfer funds from the General Fund or Capital Reserve Fund to the appropriate fund for projects approved within the Capital Improvement Plan for the current fiscal year. 5. Upon notification of funding increases or decreases to existing grants or revenues, or the award of grants or revenues, the Manager or designee may adjust budgets to match, including grants that require a County match for which funds are available. 6. The Manager or designee may adjust debt financing from estimated projections to actual funds received. 7. The County Manager may enter into and execute change orders or amendments to construction contracts in amounts less than $90,000 when the appropriate annual budget or capital project ordinance contains sufficient appropriated but unencumbered funds. 8. The County Manager may award and execute contracts which are not required to be bid or which G.S. 143 -131 allows to be let on informal bids so long as the annual budget or appropriate capital project ordinance contains sufficient appropriated but unencumbered funds for such purposes. 9. The County Manager may execute contracts with outside agencies to properly document budgeted appropriations to such agencies where G.S. 153 A- 248(b), 259, 449 and any similar statutes require such contracts. 10. The County Manager may reject formal bids when deemed appropriate and in the best interest of Cabarrus County pursuant to G.S. 143---