BC 2017 12 18 Regular Meeting - Laserfiche WebLink

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December 16, 2017 (Regular Meeting) Section III. Page 3391 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. B. 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 G.S. 153 A -248(b), 259, 449 and any similar statutes require such contracts. 10. The County Manager may reject formal bids when deemed appropriate and in the best interest of Cabarrus County pursuant to G.S. 143-129(a). 11. The County Manager may reduce revenue projections consistent with prevailing economic conditions, and also reduce expenditures correspondingly. This ordinance and the budget documents shall be the basis of the financial plan for the County of Cabarrus. a. The Finance Director is hereby directed to maintain within the Capital Project Fund sufficient detailed accounting records to satisfy the requirements of the law. b. The Finance Director is directed to report, at the request of the Board, on the financial status of each project element in Section I and on the total revenues received or claimed. C. Copies of this capital project ordinance shall be furnished to the Clerk to the governing Board, and to the Finance Director for direction in carrying out this project. d. At the completion of a construction project, all unrestricted excess funds are transferred to the General Fund and the portion of the Capital Project associated with the project is closed. Adopted this 18Th day of December 2017. CABARRUS COUNTY BOARD OF COMMISSIONERS BY: /s/ Stephen M. Morris Stephen M. Morris, Chairman ATTEST: /s/ Terri Lea Hugie Clerk to the Board (F-6) Finance - Contractual Incentive Payment for SMG (Cabarrus Arena) The contract between Cabarrus County and SMG, the operator of the Cabarrus Arena and Events Center, includes annual incentive payments based on quantitative and qualitative measurements, as well as food sales volumes. Documents detailing the calculations of the incentive amounts have been reviewed by Finance staff and is in keeping with the contract. A budget amendment for the incentive payments is also included with this agenda item. UPON MOTI0N by Commissioner Shue, seconded by Commissioner Kiger and unanimously carried, the Board approved the incentive payments and adopted the associated budget amendment.