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May 18, 2015 (Regular Meeting) Page 2388 Date:4/20/2015 Amount: $2,200,000 Susan Fearrington, Asst. Finance Dept. Head:Director Department: Finance- Public School Building Cap Fund ❑ Internal Transfer Within Department ❑ Transfer Between Departments /Funds 0 Supplemental Request Purpose: This amendment records the Public School Building Capital Lottery funds requested from the Department of Public Instruction. The funds will be used towards the FY15 school debt service payments. Cabarrus County Schools' portion is $1,900,000 and Kannapolis City schools' portion is $300,000 Account Number Account Name Approved Budget I Inc Amount I Dec Amount TRevised Budget 32067210 -6444 Lottery Proceeds 1 $12,219,308.00 $2,200,000.00 $14,419,308.00 32097210 -9704 Cont to General Fund 1 $12,219,308.00 $2,200,000.00 $14,419,308.00 Ordinance No. 2015 -11 PUBLIC SCHOOL BUILDING CAPITAL PROJECTS FUND 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 the various County construction and renovation related projects. Details of the projects 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. C. It is estimated that the following revenues will be available to complete capital projects as listed. Lottery Proceeds TOTAL REVENUES $14,419,30$ $14,419,308 D. The following appropriations are made as listed. Debt Service $14,419,308 TOTAL EXPENDITURES $14,419,308 GRAND TOTAL - REVENUES $14,419,308 GRAND TOTAL - EXPENDITURES $14,419,308 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