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October 18, 2010 (Regular Meeting) Page 165 (F -7) Commerce - 2010 -2011 HOME Project Ordinance and Related Budge Amendment - $172,898.00 Cabarrus County elected to participate in the Cabarrus /Iredell /Rowan HOME Consortium for the 2010 -2011 fiscal year. Adoption of the HOME project ordinance and related budget amendment are necessary to authorize this project and maintain compliance with Governmental Auditing Standards and the Local Government Budget and Fiscal Control Act. UPON MOTION of Commissioner Privette, seconded by Vice Chairman Poole and unanimously carried, the Board adopted the following project ordinance and related budget amendment: 2011 GRANT PROJECT ORDINANCE Ordinance No. 2010 -23 BE IT ORDAINED, by the Board of County Commissioners of the County of Cabarrus, North Carolina that, pursuant to Section 13.2(a)of Chapter 159 of the General Statutes of North Carolina, the following grant project ordinance is hereby adopted: Section 1. The project authorized is for a Grant Project for the purpose of receiving and disbursing funds as directed Home Program Grant. The project is referenced in Section 3. Section 2. The officers of this unit are hereby directed to proceed with this grant project ordinance following the terms contained within. Section 3. The following budgeted amounts are appropriated for the projects: HOME Program 172,898 Total $ 172,898 Section 4. The following revenues are anticipated to be available to complete these projects: HOME Program Grant 132,898 Contribution from General Fund 40,000 Total $ 172,898 Section 5. The Finance Officer is hereby directed to maintain within the Grant Project Fund sufficient detailed accounting records to satisfy the terms of any debt financing resolutions and any grant agreements or federal and state regulations. 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 grant 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 the projects. Section 9. At the completion of each individual project, all unrestricted excess funds are transferred to the Capital Reserve Fund and the Grant 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: 1. The Manager may transfer amounts between objects of expenditures and revenues within a function without limitation. a. The Manager may transfer amounts up to $100,000 between functions of the same ordinance. b. The Manager may transfer amounts between contingency