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B. The County Manager or designee is hereby authorized to transfer appropriations within <br />or between funds, or modify revenue and expenditure projections as contained herein <br />under the following conditions: <br />1. The Manager may transfer amounts between objects of expenditure and revenues <br />Within a function Without limitation. <br />2. The County Manager may transfer amounts up to $500,000 between functions of <br />the same fund. <br />3. The County Manager may transfer amounts between contingency funds which are <br />set aside for a specific project for budgetary shortfalls or upon the appropriate <br />approval of a change order. <br />4. The County Manager is authorized to transfer funds from the General Fund or <br />Capital Reserve Fund to the appropriate fund for projects approved within the <br />Capital Improvement Plan for the current fiscal year. <br />5. Upon notification of funding increases or decreases to existing grants or revenues, <br />or the award of grants or revenues, the Manager or designee may adjust budgets <br />to match, including grants that require a County match for which funds are <br />available. <br />6. The Manager or designee may adjust debt financing from estimated projections to <br />actual funds received. <br />7. The County Manager may enter into and execute change orders or amendments <br />to construction contracts in amounts less than $90,000 when the appropriate <br />annual budget or capital project ordinance contains sufficient appropriated but <br />unencumbered funds. <br />B. The County Manager may award and execute contracts which are not required to <br />be bid or which G.S. 143-131 allows to be let on informal bids so long as the annual <br />budget or appropriate capital project ordinance contains sufficient appropriated but <br />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 the <br />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 Fund <br />sufficient detailed accounting records to satisfy the requirements of the law. <br />Page 82 <br />