BC 2017 12 04 Work Session - Laserfiche WebLink

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December 4, 2017 (Work Session) Page 3372 B. The officers of this unit are hereby directed to proceed with this capital project within the terms of the Generally Accepted Accounting Principles (GAAP) and the budget contained herein. It is estimated that the following revenues will be available to complete capital projects as listed. General Fund Contribution $997,000 Capital Reserve Contribution 5,049,665 Capital Projects Fund 7,179,803 Debt Proceeds 79,194,879 TOTAL REVENUES $92,421,347 C. The following appropriations are made as listed. Parking Deck Downtown Concord $13,583,850 New Cabarrus County High School 71,549,745 Performance Learning Center 4,000,000 Warehouse 2,141,264 Financing Costs 814,779 Other County Projects 331,709 TOTAL EXPENDITURES $92,421,347 GRAND TOTAL - REVENUES $92,421,347 GRAND TOTAL - EXPENDITURES $92,421,347 Section II. A. Special appropriations to non-profit organizations shall be distributed after the execution of an agreement which ensures that all County funds are used for statutorily permissible public purposes. B. The County Manager or designee is hereby authorized to transfer appropriations within or between funds, or modify revenue and expenditure projections as contained herein under the following conditions: 1. The Manager may transfer amounts between objects of expenditure and revenues within a function without limitation. 2. The County Manager may transfer amounts up to $500,000 between functions of the same fund. 3. The County Manager may transfer amounts between contingency funds which are set aside for a specific project for budgetary shortfalls or upon the appropriate approval of a change order 4. 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. 5. Upon notification of funding increases or decreases to existing grants or revenues, or the award of grants or revenues, the Manager or designee may adjust budgets to match, including grants that require a County match for which funds are available. 6. The Manager or designee may adjust debt financing from estimated projections to actual funds received. 7. The County Manager may enter into and execute change orders or amendments to construction contracts in amounts less than $90,000 when the appropriate annual budget or capital project ordinance contains sufficient appropriated but unencumbered funds. 8. The County Manager 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. 9. The County Manager may execute contracts with outside agencies to properly document budgeted appropriations to such agencies where