BC 2011 06 20 Regular - Laserfiche WebLink

Home Browse Search

June 20, 2011 (Regular Meeting) Page 490 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 June 2011. CABARRUS COUNTY BOARD OF COMMISSIONERS BY: /s/ H. Jay White, Sr. H. Jay White, Sr., Chairman ATTEST: /s/ Kay Honeycutt Clerk to the Board Ordinance No. 2011 -21 CABARRUS COUNTY UTILITY FUND 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 special revenue project ordinance is hereby adopted: Section 1. The project authorized is for the purpose of collecting and appropriating utility assessment fees for utility projects at the discretion of the Cabarrus County Board of Commissioners. Section 2. The Utility Fund was previously accounted for as a Special Revenue Fund. Under the direction of GASB 54, Fund Balance Reporting and Governmental Fund Type Definitions, the Utility Fund shall now be reported as a Capital Projects Fund. The previous Utility Special Revenue Project Ordinance adopted on May 17, 2010 is considered void. Section 3. 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 4. The following budgeted amounts are appropriated for the projects: Utility Improvement Projects $ 694,203 Section S. The following revenues are anticipated to be available to complete this project: Assessment Fees $ 598,904 Interest Income $ 95,299 Section 6. The Finance Officer is hereby directed to maintain within the Capital Projects Fund sufficient detailed accounting records. Section 7. 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 8. 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 9. Copies of this capital 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 10. At the completion of the project, all unrestricted excess funds are transferred to the General Fund and