BC 2009 07 20 Regular - Laserfiche WebLink

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July 20, 2009 (Regular Meetinq) Page 1490 GRAND TOTAL - ALL FUNDS - EXPENDITURES $ 205,391,176 Section II. There is hereby levied a tax at the rate of 63 cents per one hundred dollars valuation of property listed for taxes as of January 1, 2009, for the purpose of raising the revenue listed as "CURRENT AD VALOREM TAX LEVY" in the General Fund. This rate of tax is based on an estimated total valuation of property for the purposes of taxation of $20,991,109,000 at an estimated combined collection rate of 98.16 percent (98.99°s for real and personal and 89.53 for vehicles). The estimated rate of collections is based on the fiscal year ending 2008. An estimated total valuation of Real, Personal and Public Service property is $19,628,379,054 and vehicle of $1,362,739,996. Section III. A. Special appropriations to non-profit organizations shall be distributed after the execution of an agreement which ensures that all County funds are used for statutorily permissible public purposes. B. The County Manager and/or Finance Director is hereby authorized to transfer appropriations within or between funds as contained herein under the following conditions: 2. The Finance Director or designee may transfer amounts between objects of expenditure within a department. 3. The County Manager may transfer amounts between objects of expenditures or revenues within a function without limitation. 9. The County Manager may transfer amounts up to $100,000 between functions of the same fund. 5. The County Manager may not transfer any amounts between funds nor from any contingency appropriation within any fund without action of the Board of Commissioners, except as specified below for budget shortfalls, change orders, the Capital Improvement Plan, and Salary and Benefits adjustments. 6. The County 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. 7. The County Manager is authorized to transfer funds from the General Eund or Capital Reserve Fund to the appropriate fund for projects approved within the Capital Improvement Plan for the current fiscal year. 8. Additional authority is granted to the Finance Director to transfer amounts within and between funds for the sole purpose of funding salary and benefits adjustments consistent with the Cabarrus County Personnel Management Policy and the Cabarrus County Personnel Ordinance. 9. Upon notification of funding increases or decreases to existing grants or revenues, or the award of grants or revenues, the Manager or Finance Officer may adjust budgets to match. 10. The Manager of Finance Director may adjust debt financing from estimated projections to actual funds received. 11. The County Manager may enter into and execute change orders or amendments to construction contracts in amounts less than $90,000 when the appropriate annual budget or capital project ordinance contains sufficient appropriated but unencumbered funds. 12. The County Manager may award and execute contracts which are not required to be bid or which G.S. 193-131 allows to be let on informal bids so long as the annual budget or appropriate capital project ordinance contains sufficient appropriated but unencumbered funds for such purposes.