BC 2012 05 21 Regular Meeting - Laserfiche WebLink

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May 21, 2012 (Regular Meeting) Page 1061 amendments to County construction contracts in amounts up to $90,000 when the project ordinance contains sufficient appropriated but unencumbered funds. Adopted this 21st day of May, 2012. CABARRUS COUNTY BOARD OF COMMISSIONERS BY: /s/ Elizabeth F. Poole Elizabeth F. Poole, Chairman ATTEST: /s/ Kay Honeycutt Clerk to the Board Ordinance No. 2012 -03 CABARRUS COUNTY ADEQUATE FACILITIES CAPITAL PROJECT ORDINANCE BE IT ORDAINED, by the Board of County Commissioners of the County of Cabarrus, 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 1. The project authorized is for the purpose of collecting and appropriating Adequate Facility Fees for school facilities, land, architect, improvements or Furniture and Fixtures at the discretion of the Cabarrus County Board of Commissioners. Section 2. The officers of this unit are hereby directed to proceed with this project within the terms of the Generally Accepted Accounting Principles (GAAP) and the budget contained herein. Section 3. The following budgeted amounts are appropriated for the projects: Facility Projects $2,570,098 Construction & Renovation of Schools $7,340,092 Section 4. The following revenues are anticipated to be available to complete this project: Adequate Facilities Fees $8,419,775 Interest on Investments $ 245,986 Contribution from General Fund $ 97,750 Contribution from Capital Projects Fund $ 700,764 Contribution from Capital Reserve Fund $ 445,915 Section S. The Finance Officer is hereby directed to maintain within the Capital Projects Fund sufficient detailed accounting records. Section 6. Funds may be advanced from the General Fund for the purpose of making payments as due. Reimbursement to the General Fund should be made in an orderly and timely manner. Section 7. The Finance Officer is directed to report, at the request of the Board, on the financial status of each project element in Section 4 and on the total revenues received or claimed. Section 8. Copies of this special revenue project ordinance shall be furnished to the Clerk to the Governing Board, and to the Budget Officer and the Finance Officer for direction in carrying out this project. Section 9. At the completion of the project, all unrestricted excess funds are transferred to the General Fund and the Capital Project Ordinance is closed. Section 10. The County Manager is hereby authorized to transfer revenues and appropriation within an ordinance as contained herein under the following conditions: