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May 15, 2017 (Regular Meeting) Page 3129 <br /> expenditures and revenues within a function without limitation. <br /> 2. The County Manager may transfer amounts up to $100, 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 shortfalls <br /> or upon the appropriate approval of a change order. <br /> 4. 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 /> 5. 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 /> 6. The County Manager or designee may adjust debt financing from <br /> estimated projections to actual funds received. <br /> 7. The County Manager may enter into and execute change orders or <br /> amendments to County construction contracts in amounts less than <br /> $90, 000 when the appropriate annual budget or capital project <br /> ordinance contains sufficient appropriated but unencumbered funds. <br /> 8. The County Manager may award and execute contracts which are not <br /> required to be bid or which G.S. 143-131 allows to be let on <br /> informal bids so long as the annual budget or appropriate capital <br /> project ordinance contains sufficient appropriated but <br /> unencumbered funds for such purposes. <br /> 9. The County Manager may execute contracts with outside agencies to <br /> properly document budgeted appropriation to such agencies where <br /> G.S. 153 A-248 (b) , 259. 449 and any similar statutes require such <br /> contracts. <br /> 10. 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 /> 11. The County Manager may reduce revenue projections consistent with <br /> prevailing economic conditions, and also reduce expenditures <br /> correspondingly. <br /> Section III. <br /> This ordinance and the budget documents shall be the basis of the <br /> financial plan for the County of Cabarrus. <br /> a. The Finance Director is hereby directed to maintain within the <br /> Capital Projects Fund sufficient detailed accounting records to <br /> satisfy the requirements of the law. <br /> b. The Finance Officer 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 <br /> for 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 Ordinance associated with the project is <br /> closed. <br /> Adopted this 15th day of May, 2017. <br /> CABARRUS COUNTY BOARD OF COMMISSIONERS <br /> BY: /s/ Stephen M. Morris <br /> Stephen M. Morris, Chairman <br /> ATTEST: <br /> /s/ Megan Smit <br />