BC 2017 08 21 Regular Meeting - Laserfiche WebLink

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August 21, 2017 (Regular Meeting) Page 3261 Section I and on the total revenues received or claimed. c. Copies of this capital project ordinance shall be furnished to the Clerk to the governing Board, and to the Finance Director for direction in carrying out this project. d. At the completion of a construction project, all unrestricted excess funds are transferred to the General Fund and the portion of the Capital Project associated with the project is closed. Adopted this the 21St day of August 2017. CABARRUS COUNTY BOARD OF COMMISSIONERS BY: /s/ Stephen M. Morris Stephen M. Morris, Chairman ATTEST: /s/ Angela Poplin Interim Clerk to the Board Ordinance No. 2017-51 CABARRUS COUNTY LIMITED OBLIGATION BONDS 2018 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: Section I. A. The project authorized is for the construction and renovations of Public Schools. Details of the project are listed in section C. of this Project Ordinance. B. The officers of this unit are hereby directed to proceed with this capital project within the terms of the Generally Accepted Accounting Principles (GAAP) and the budget contained herein. It is estimated that the following revenues will be available to complete capital projects as listed. Capital Reserve Contribution $4, 017, 397 TOTAL REVENUES $4, 017,397 C. The following appropriations are made as listed. RCCC - Advanced Technology Center $1,580,396 New Cabarrus County Elementary School 2,437, 001 TOTAL EXPENDITURES $4, 017,397 GRAND TOTAL - REVENUES $4, 017, 397 GRAND TOTAL - EXPENDITURES $4,017,397 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.