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October 20, 2014 (Regular Meeting) Page 2190 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 20th day of October, 2014. CABARRUS COUNTY BOARD OF COMMISSIONERS BY: /s/ Elizabeth F. Poole Elizabeth F. Poole, Chairman ATTEST: /s/ Megan I.E. Smit Clerk to the Board Ordinance No. 2014 -27 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 General Fund $40,039,743 Contributions from CVB $398,000 Interest an Investments $307,142 TOTAL REVENUES $40,744,885 D. The following appropriations are made as listed: Northwest Area Elementary School $16,000,000 Mt. Pleasant Middle School Replacement $13,486,500 County Facility Projects $6,331,633 Park Projects $504,622 Park Projects /CVB $398,000 Other County Capital Projects $630,136 Community College Renovations $280,043 Harrisburg EMS Station $375,000 School Roofs /Improvements $2,738,951 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. 3. 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.