BC 2015 06 14 Regular Meeting - Laserfiche WebLink

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June 15, 2015 (Regular Meeting) Page 2460 GRAND TOTAL - ALL FUNDS REVENUES 233,306,153 GRAND TCTAL - ALL FUNDS - EXPENDITURES 233,306,153 Section II. There is hereby levied a tax at the rate of 70 cents per one hundred dollars valuation of property listed for taxes as of January 1, 2015, for the purpose of raising the revenue listed as "CURRENT AD VALOREM TAX LEVY" in the General Fund. This rate of tax is based on an estimated total valuation of property for the purposes of taxation of $20,008,671,688, at an estimated combined collection rate of 96.33 percent (96.25% for real and personal and 96.97° for vehicles) . The estimated rate of collections is based on the fiscal year ending 2014. An estimated total valuation of Real, Personal and Public Service property is $18,269,576,735 and vehicle of $1,739,094,953. Section III. 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 and /or Finance Director, 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 Finance Director may transfer amounts between objects of expenditure within a function. 2. The County Manager may transfer amounts between objects of expenditures and revenues without limitation. 3. The County Manager may not transfer any amounts between funds or from any contingency appropriation within any fund without action of the Board of Commissioners, except as specified below for budget shortfalls and change orders. 4. 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. 5. 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. 6. Additional authority is granted to the Finance Director or designee to transfer amounts within and between funds for the sole purpose of funding salary and benefits adjustments consistent with the Cabarrus County Personnel Management Policy and the Cabarrus County Personnel Ordinance. 7. 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. S. The Manager, Finance Director, or designee may create debt financing amendments from estimated projections upon approval by the Board of Commissioners of the debt financing and adjust as needed upon closing. 9. 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. 1C. The County Manager may 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