BC 2014 05 19 Regular Meeting - Laserfiche WebLink

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May 19, 2014 (Regular Meeting) BY: /s/ Elizabeth F. Poole Elizabeth F. Poole, Chairman ATTEST: /s/ Megan Smit Clerk to the Board Page 2625 Ordinance No. 2014 -13 CABARRUS COUNTY CAPITAL RESERVE CAPITAL 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 purpose of accumulating and appropriating funds specifically for future County and School capital projects. 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. Contributions from $40,039,743 General Fund $398,000 Contributions from CVB $307,142 Interest on Investments TOTAL REVENUES $40,744,885 D. The following appropriations are made as listed: Northwest Area Elementary $16,000,000 School $13,486,500 Mt. Pleasant Middle School $6,331,633 Replacement $3,243,573 County Facility Projects $398,000 Park Projects $630,136 Park Projects /CVB $280,043 Other County Capital $375,000 Projects Community College Renovations Harrisburg EMS Station TOTAL EXPENDITURES $40,744,885 GRAND TOTAL - REVENUES $40,744,885 GRAND TOTAL - EXPENDITURES $40,744,885 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 $100,000 between functions of the same fund.