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May 19, 20114 (Regular Meeting) <br />Page 2 02 6 <br />3. The County Manager may transfer amounts between <br />contingency funds which are set aside for a specific <br />project for budgetary shortfalls or upon the appropriate <br />approval of a change order. <br />4. The County Manager is authorized to transfer funds from <br />the General Fund or Capital Reserve Fund to the <br />appropriate fund for projects approved within the Capital <br />Improvement Plan for the current fiscal year. <br />5. Upon notification of funding increases or decreases to <br />existing grants or revenues, or the award of grants or <br />revenues, the Manager or designee may adjust budgets to <br />match, including grants that require a County match for <br />which funds are available. <br />6. The Manager or designee may adjust debt financing from <br />estimated projections to actual funds received. <br />7. The County Manager may enter into and execute change <br />orders or amendments to construction contracts in amounts <br />less than $90,000 when the appropriate annual budget or <br />capital project ordinance contains sufficient appropriated <br />but unencumbered funds. <br />8. The County Manager may award and execute contracts which <br />are not required to be bid or which G.S. 143 -131 allows to <br />be let on informal bids so long as the annual budget or <br />appropriate capital project ordinance contains sufficient <br />appropriated but unencumbered funds for such purposes. <br />9. The County Manager may execute contracts with outside <br />agencies to properly document budgeted appropriations to <br />such agencies where G.S. 153 A- 248(b), 259, 449 and any <br />similar statutes require such contracts. <br />10. The County Manager may reject formal bids when deemed <br />appropriate and in the best interest of Cabarrus County <br />pursuant to G.S. 143 - 129(x). <br />11. The County Manager may reduce revenue projections <br />consistent with prevailing economic conditions, and also <br />reduce expenditures correspondingly. <br />Section III. <br />This ordinance and the budget documents shall be the basis of the <br />financial plan for the County of Cabarrus. <br />a. The Finance Director is hereby directed to maintain <br />within the Capital Project Fund sufficient detailed <br />accounting records to satisfy the requirements of the <br />law. <br />b. The Finance Director is directed to report, at the <br />request of the Board, on the financial status of each <br />project element in Section I and on the total revenues <br />received or claimed. <br />c. Copies of this capital project ordinance shall be <br />furnished to the Clerk to the governing Board, and to <br />the Finance Director for direction in carrying out <br />this project. <br />d. At the completion of a construction project, all <br />unrestricted excess funds are transferred to the <br />General Fund and the portion of the Capital Project <br />associated with the project is closed. <br />Adopted this the 19th day of May, 2014. <br />CABARRUS COUNTY BOARD OF COMMISSIONERS <br />BY: /s/ Elizabeth F. Poole <br />Elizabeth F. Poole, Chairman <br />