BC 2014 06 16 Regular Meeting - Laserfiche WebLink

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June 16, 2014 (Regular Meeting) current fiscal year. Page 2078 5. 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. 6. The Manager or designee may adjust debt financing from estimated projections to actual funds received. 7. 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. 8. The County Manager may'award and 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 ordinance contains sufficient appropriated but unencumbered funds for such purposes. 9. The County Manager may execute contracts with outside agencies to properly document budgeted appropriations to such agencies where G.S. 153 A-248(b), 259, 449 and any similar statutes require such contracts. 10. The County Manager may reject formal bids when deemed appropriate and in the best interest of Cabarrus County pursuant to G.S. 143- 129 (a) . 11. The County Manager may reduce revenue projections consistent with prevailing economic conditions, and also reduce expenditures correspondingly. Section III. This ordinance and the budget documents shall be the basis of the financial plan for the County of Cabarrus. a. The Finance Director is hereby directed to maintain within the Capital Project Fund sufficient detailed accounting records to satisfy the requirements of the law. b. The Finance Director is directed to report, at the request of the Board, on the financial status of each project element in Section I and on the total revenues received or claimed. c. Copies of this capital project ordinance shall be furnished to the Clerk to the governing Board, and to the Finance Director for direction in carrying out this project. d. At the completion of a construction project, all unrestricted excess funds are transferred to the General Fund and the portion of the Capital Project associated with the project is closed. Adopted this the 19th day of June, 2014. CABARRUS COUNTY BOARD OF COMMISSIONERS BY: /s/ Elizabeth F. Poole Elizabeth F. Poole, Chairman ATTEST: /s/ Megan Smit Clerk to the Board (G -5) County Manager - Introduction of General Obli ation Bond Orders for Schools and Communit y College Ann Wilson, Finance Director, reported there are multiple steps for the Board to take along the way to the bond referendum in November. She said the steps that need to be taken tonight include the introduction of the bond orders for the schools and community college; the authorization of the publication of the bond orders; and the scheduling of a public hearing for the regular meeting an July 21, 2014.