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March 17, 2014 (Regular Meeting) <br />Page 1952 <br />Internal Transfer Within Department ❑ Transfer Between Departments /Funds R supplemental Request <br />Purpose: Adjust the Interest Income line item to estimated end of project earnings. The <br />additional $30 will be used for the Northwest High School Gymnasium project. The Building and <br />Renovation NWHS line item includes the Gymnasium, the Chillers and the Practice Fields for the <br />Hiuh School. <br />Account Number <br />Account Name <br />Approved Budget <br />Inc Amount <br />Dec Amount <br />Revised Budget <br />36760000 -6705 <br />Interest on Invest <br />$12,298.00 <br />$30.00 <br />$12,328.00 <br />36797308 - 9821 -GEN <br />Bldg & Reno -NWHS GEN <br />$3,393,528.31 <br />$30.00 <br />$3,393,558.31 <br />Ordinance No. 2014 -06 <br />CABARRUS COUNTY QUALIFIED SCHOOL CONSTRUCTION BOND CAPITAL PROJECT <br />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 the rehabilitating, repairing and <br />equipping approximately eighteen Cabarrus County Schools and six <br />Kannapolis city School Facilities. The project is being funded by <br />the issuance of Taxable Limited Obligation Qualified school <br />Construction Bonds (QSCB's) and a small contribution from the <br />General Fund. Details of the projects are listed in section D. of <br />this Project Ordinance. <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 />General Fund Contribution $25,840 <br />Interest on Investments $12,328 <br />Taxable Limited Obligation Qualified <br />School Construction Bonds $14,637,157 <br />TOTAL REVENUES $14,675,325 <br />D. The following appropriations are made as listed. <br />Cabarrus County School Projects $11,102,887 <br />Kannapolis City School Projects $3,572,438 <br />TOTAL EXPENDITURES $14,675,325 <br />GRAND TOTAL - REVENUES $14,675,325 <br />GRAND TOTAL - EXPENDITURES $14,675,325 <br />Section lI. <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 $500,000 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 />