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October 20, 2008 (Regular Meeting) Page 996 Section 2. The officers of this unit are hereby directed to proceed with the capital project within the terms of the grant document(s) and the budget contained herein. Section 3. The following revenues are anticipated to be available to complete this project. $675,000 N.C. Agricultural Development and Farmland Preservation Grant $195,750 Local Grant Match funds $20,000 Donations $2,529 Cannon Grant $259,250 Capital Reserve Funds $1,097,529 Total Revenue Section 9. The following amounts are appropriated for the project: $890,750 N.C. Agricultural Development and Farmland Preservation Grant Expense $2,529 Cannon Grant Expenses $254,250 Incubator Farm Site $1,097,529 Total Expenses Section 5. The Finance Officer is hereby directed to maintain within the Special Projects Fund sufficient detailed accounting records to provide the accounting to the grantor agencies required by the grant agreement(s) and any federal and state regulations. Section 6. Requests for funds should be made to the grantor agency in an orderly and timely manner as funds are obligated and expenses incurred. 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 4 and on the total revenues received or claimed. Section 8. Copies of this Special 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 project, all unrestricted excess funds will be transferred to the Capital Reserve Eund. Section 10. The County Manager is hereby authorized to transfer revenues and appropriations 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 County Manager is authorized to transfer funds from the General Fund or Capital Reserve Fund to the appropriate fund for projects approved within the Capital Improvement Plan for the current fiscal year. ADOPTED this 20th day of October, 2008. CABARRUS COONTY BOARD OF COMMISSIONERS By: /s/ H. Jay White, Sr. H. Jay White, Sr., Chairman ATTEST /s/ Kay Honeycutt Clerk to the Board (F-S) Finance - Approval of Land Acquisition by Condemnation of Garrison Property £or the New Northwest Area Middle School This item was moved to New Business for discussion. See item G-9. F-9) Finance - zk as an Addit Currently Cabarrus County has a joint account with SMG, the management company for the Arena, for our daily banking activities concerning the Arena.