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8. The County Manager may award and execute contracts which are not required <br />to be bid or which G.S. 143-131 allows to be let on informal bids so long as the <br />annual budget or appropriate capital project ordinance contains sufficient <br />appropriated but unencumbered funds for such purposes. <br />9. The County Manager may execute contracts with outside agencies to properly <br />document budgeted appropriations to such agencies where G.S. 153 A -248(b), <br />259, 449 and any similar statutes require such contracts. <br />10. The County Manager may reject formal bids when deemed appropriate and in <br />the best interest of Cabarrus County pursuant to G.S. 143-129(a). <br />11. The County Manager may reduce revenue projections consistent with prevailing <br />economic conditions, and also reduce expenditures correspondingly. <br />Section III. <br />This ordinance and the budget documents shall be the basis of the financial plan for the <br />County of Cabarrus. <br />a. The Finance Director is hereby directed to maintain within the Capital Project <br />Fund sufficient detailed accounting records to satlsfy the requirements of the <br />law. <br />b. The Finance Director is directed to report, at the request of the Board, on the <br />financial status of each project element in Section I and on the total revenues <br />received or claimed. <br />c. Copies of this capital project ordinance shall be furnished to the Clerk to the <br />governing Board, and to the Finance Director for direction in carrying out this <br />project. <br />d. At the completion of a constructon project, all unrestricted excess funds are <br />transferred to the General Fund and the portion of the Capital Project associated <br />with the project is closed. <br />Adopted this 15th Day of October, 2018. <br />CABARRUS COUNTY BOARD OF COMMISSIONERS <br />1-31A <br />ATTEST: <br />Clerk to the Board <br />Stephen M. Morris, Chairman <br />Page 100 <br />