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March 24, 2008 (Regular Meeting) Page 756 The following is a Project Ordinance for the Public School Building Capital Projects Fund. This fund is a multi-year fund and is not included in the annual budget. After previous discussions with the Institute of Government, it was decided that a project ordinance was needed for this type of fund instead of reappropriating the remaining funds after the year end audit. This fund has had budget amendments presented in the past; however a project ordinance had not been created. UPON MOTION of Commissioner Privette, seconded by Vice Chairman Juba and unanimously carried, the Board adopted the following ordinance: Ordinance No. 2008-03 PUBLIC SCHOOL BUILDING CAPITAL PROJECTS FUND CAPITAL PROJECT ORDINANCE BE IT ORDAINED, by the Governing Board of Cabarrus County, North Carolina, that, pursuant to Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the following capital project ordinance is hereby adopted: Section 1. The project authorized for smaller non-debt Capital Projects conducted by the County. Section 2. The officers of this unit are hereby directed to proceed with this capital project within the terms contained in this project ordinance. Section 3. The following budgeted amounts are appropriated for the projects: State Public School Funds $ 796,000 Lottery Proceeds 7,027,590 Lottery Proceeds-Rowan County Projects 268,500 Total $ 8,092,090 Section 9. The following revenues are anticipated to be available to complete this project: Public School Expenditures $ 746,000 Contribution - Capital Proj Fund -Lottery 7,027,540 Lottery Expenditures - Rowan County 268,500 Total $ 8,092,090 Section 5. The Finance Officer is hereby directed to maintain within the Capital Project Fund sufficient detailed accounting records to satisfy the requirements of the law. Section 6. Funds may be advanced from the General Fund for the purpose of making payments as due. Reimbursements to the General Fund should be made 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. The Budget Officer is directed to include a detailed analysis of past and future costs and revenues on this capital project in every budget submission to this Board. Section 9. Copies of this capital project ordinance shall be furnished to the Clerk of Cabarrus County, and to the Budget Officer and the Finance Director for direction in carrying out this project. Section 10. At the completion of each individual project, all unrestricted excess funds are transferred to the Capital Reserve Fund and accounting for the individual Capital Project is written off. Section 11. The County Manager is hereby authorized to transfer revenues and appropriations within an ordinance as contained herein under the following conditions: