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March 15, 2010 (Regular Meeting) Page 1845 Budget Officer and the Finance Officer for direction in carrying out this project. Section 9. At the completion of the construction project, all unrestricted excess funds are transferred to the General Fund for payment of Debt Service 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: 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 projects upon the appropriate approval of the change order. d. The Manager may enter into and execute change orders or amendments to County construction contracts in amounts up to $100,000 when the project ordinance contains sufficient appropriated but unencumbered funds. If the construction contracts are for Public Education or the Community College, the Board of County Commissioners must enter into and execute these change orders. Adopted this 15th day of March, 2010. CABARRUS COUNTY BOARD OF COMMISSIONERS BY: /s/ H. Jay White, Sr. H. Jay White, Sr., Chairman ATTEST: /s/ Kay Honeycutt Clerk to the Board RESOLUTION ESTABLISHMENT AND MAINTENANCE OF THE CAPITAL RESERVE FUND Resolution No. 2010-07 WHEREAS, there is a need to maintain funds for future County and School capital projects; and WHEREAS, the Capital Reserve fund was established to account for the accumulation of funds; NOW, THEREFORE, BE IT RESOLVED BY THE GOVERNING BOARD THAT: Section 1. The Governing Board hereby creates a Capital Reserve fund for the purpose of maintaining funds for future capital projects at the County and the Schools. Section 2. The following budgeted amounts are appropriated for the projects: Capital Improvement Projects $55,000,000 Section 3. The following revenues are anticipated to be available to fund this project: Investment earnings $ 3,000,000 Transfer from other funds $ 570,000 Contributions from the General Fund $51,430,000 Section 4. The County Manager is hereby authorized to transfer revenues and appropriation 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.