BC 2010 06 21 Regular Meeting - Laserfiche WebLink

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June 21, 2010 (Regular Meeting) Page 22 Section 1. The project authorized is the construction and renovations of Schools for Cabarrus County. The capital projects will be financed by Capital Reserve funds and Interest Income. Section 2. The officers of this unit are hereby directed to proceed with this capital project within the terms of future debt resolutions and the budget contained herein. Section 3. The following budgeted amounts are appropriated for the projects: Construction and Renovations of Public School Facilities $10,249,489 Section 4. The following revenues are anticipated to be available to complete this project: Capital Reserve Funds $10,247,601 Interest Income 1,888 Total $10,249,489 Section 5. The Finance Officer is hereby directed to maintain within the Capital Project Fund sufficient detailed accounting records to satisfy the terms of future debt financing resolution. Section 6. Funds may be advanced from the General Fund for the purpose of making payments as due. Reimbursement requests should be made to the grantor agencies 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 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 construction project, all unrestricted excess funds are transferred to the Capital Reserve 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: 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 by the School Systems. Adopted this 21S day of June, 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 (F -6) Finance - Budget Amendment (2009 School Construction Fund - $157,223.85) The Carl A. Furr Elementary School wing. addition project has been completed and $157,223.85 of Capital Reserve funding was not used. The