BC 2012 08 20 Regular Meeting - Laserfiche WebLink

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August 20, 2012 (Regular Meeting) Page 1197 Public School Expenditures $ 8,210,061 Debt Service 9,262,562 $17,472,623 Section 4. The following revenues are anticipated to be available to complete this project: State Public School Funds $ 2,897,042 Lottery Proceeds 13,850,813 Contribution from General Fund 724,768 Total $17,472,623 Section 5. The Finance Officer is hereby directed to maintain within the Capital Project Fund sufficient detailed accounting records to satisfy the requirements of the law. Section 6. Funds may be advanced from the General Fund for the purpose of making payments as due. Reimbursements 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 3 and on the total revenues received or claimed. Section 8. Copies of this capital project ordinance shall be furnished to the Clerk of the Governing Board, and to the Budget Officer and the Finance Director for direction in carrying out this project. Section 9. At the completion of each individual project, all unrestricted excess funds are transferred to the General Fund and accounting for the individual Capital Project is written off. Section 10. The County Manager is hereby authorized to transfer revenues and appropriations within an ordinance as contained herein under the following conditions: a. The Manager may transfer amounts between objects of expenditures and revenues within a function without limitation. b. The Manager may transfer amounts up to $100,000 between functions of the same ordinance. c. The Manager may transfer amounts between contingency funds which are set aside for a specific project for budgetary shortfalls or upon the appropriate approval of a change order. d. The Manager may enter into and execute change orders or amendments to County construction contracts in amounts up to $90,000 when the project ordinance contains sufficient appropriated but unencumbered funds. Adopted this 20th day of August, 2012. ATTEST: /s/ Kay Honeycutt Clerk to the Board CABARRUS COUNTY BOARD OF COMMISSIONERS BY: /s/ Elizabeth F. Poole Elizabeth F. Poole, Chairman (F -4) Finance - Qualified School Construction Bonds (QSCB) Reallocation Request for Central Cabarrus High School - $42,343.00 The Cabarrus County School Finance staff are requesting a reallocation of $42,343.00 at Central Cabarrus High School. QSCB funds of $42,343.00 will be reallocated from the Coltrane Webb Elementary School Magnet School Program Remodeling project to the Central Cabarrus High School Window Replacement project. Per the School staff, the Coltrane Webb Elementary School project is complete and came in under budget and funds are needed at Central Cabarrus High School for unanticipated asbestos abatement for the window replacement project. The reallocation request was presented to Board of Education for formal approval on August 6, 2012.