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September 21, 2015 (Regular Meeting) Page 2545 <br />Clerk to the Board <br />Ordinance No. 2015 -36 <br />CABARRUS COUNTY CAPITAL RESERVE <br />CAPITAL PROJECT BUDGET ORDINANCE <br />BE IT ORDAINED by the Board of Commissioners of Cabarrus County, North <br />Carolina that, Pursuant to Section 13.2 of Chapter 159 of the General <br />Statutes of North Carolina, the following capital project ordinance is hereby <br />adopted: <br />Section I. <br />A. The project authorized is for the purpose of accumulating and <br />appropriating funds specifically for future County and School <br />capital projects. <br />B. The officers of this unit are hereby directed to proceed with this <br />capital project within the terms of the Generally Accepted <br />Accounting Principles (GAAP) and the budget contained herein. <br />C. It is estimated that the following revenues will be available to <br />complete capital projects as listed. <br />Contributions from General Fund $45,074,750 <br />Contributions from CVB 843,617 <br />Contribution from Capital Projects Fund 6,600 <br />Interest on Investments 329,142 <br />TOTAL REVENUES $46,254,109 <br />D. The following appropriations are made as listed: <br />Odell 3 -5 Elementary School <br />$19,735,848 <br />Mt. Pleasant Middle School Replacement <br />2,620,000 <br />Royal Oaks Elementary <br />1,645,000 <br />Kannapolis Middle School <br />849,100 <br />School Contingency <br />3,254,663 <br />County Facility Projects <br />5,796,633 <br />Park Projects <br />4,243,573 <br />Park Projects /CVB <br />843,617 <br />Other County Capital Projects <br />6,610,632 <br />Community College Renovations <br />280,043 <br />Harrisburg EMS Station <br />375,000 <br />TOTAL EXPENDITURES <br />$46,254,109 <br />GRAND TOTAL - REVENUES <br />$46,254,109 <br />GRAND TOTAL - EXPENDITURES <br />$46,254,IC9 <br />Section II. <br />A. Special appropriations to non - profit organizations shall be <br />distributed after the execution of an agreement which ensures that <br />all County funds are used for statutorily permissible public <br />purposes. <br />B. The County Manager or designee is hereby authorized to transfer <br />appropriations within or between funds, or modify revenue and <br />expenditure projections as contained herein under the following <br />conditions: <br />1. The Manager may transfer amounts between objects of expenditure <br />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 <br />shortfalls or upon the appropriate approval of a change order. <br />4. The County Manager is authorized to transfer funds from the <br />General Fund or Capital Reserve Fund to the appropriate fund for <br />