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June 14, 2005 (Recessed Meeting) Page 233 Rimer Winecoff - Contracted to City of Kannapolis Northeast Mt. Pleasant Rural Richfield-Misenheimer 138,705,512 24,576,519 .06 .035 83,012 9,170 85,984,201 299,640,709 9,844,786 .06 .045 .07 51,670 135,332 6,763 Section V. The County Manager is hereby authorized to transfer appropriations within a fund as contained herein under the following conditions: 1. He may transfer amounts between objects of expenditures and revenues within a department without limitation. 2. He may transfer amounts up to $25,000 between departments of the same fund. 3. He may not transfer any contingency appropriation Board of Commissioners. amounts between funds nor from any within any fund without action of the 4. He may enter into and execute change orders or amendments to construction contracts in amounts up to $25,000 when the appropriate annual budget or capital project ordinance contains sufficient appropriated but unencumbered funds. 5. He may award and execute contracts which are not required to be bid or which G.S. 143-131 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. 6. He may execute contracts with outside document budgeted appropriations to such A-248 (b) , 259, 449 and any similar contracts. agencies to properly agencies where G.S. 15 statutes require such 7. He may reject formal bids when deemed appropriate and in the best interest of Cabarrus County pursuant to G.S. 143-129(a). Section VI. Copies of this Budget Ordinance shall be furnished Administrator and to each fire department for direction in of their duties and are available for public inspection. to the Tax the carry out Adopted this the 14th day of June, 2005. /s/ Carolyn B. Carpenter Carolyn B. Carpenter, Chairman /s/ Frankie F. Bonds Frankie F. Bonds, Clerk to the Board Property Tax Assistance Program John Day, County Manager, presented the following proposed Property Tax Assistance Grant Program. Property Tax Assistance Grant The Homestead Act, authorized by the North Carolina General Assembly, provides property tax relief for the permanently disabled and those 65 and older with incomes of $19,200 or less. Those eligible receive a reduction in their property tax values of $20,000, or 50% of the total value, whichever is greater. A committee composed of several staff members (including some who work with low-income residents), a representative from the county's aging advisory board and representatives from three local non-profit organizations that assist low- to moderate income residents, was formed to study this matter. After some research and review, it recommended establishing a grant program that will extend the benefits of the Homestead Act to all county homeowners who meet its income guideline. The grant would be in the form of a voucher.