BC 2018 03 19 Regular Meeting - Laserfiche WebLink

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March 19, 2018 (Regular Meeting) Page 3492 BE IT ORDAINED by the Board of Commissioners of Cabarrus County, North Carolina that, Pursuant to Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the following capital project ordinance is hereby adopted: Section I. A. The project authorized is for the construction and renovations of Public Schools. Details of the project are listed in section C. of this Project Ordinance. 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. Capital Reserve Contribution Capital Project Fund Contribution General Fund Contribution Debt Proceeds TOTAL REVENUES C. The following appropriations are made as listed. RCCC - Advanced Technology Center New Cabarrus County Elementary School Land - RCCC Legal Fees TOTAL EXPENDITURES GRAND TOTAL - REVENUES GRAND TOTAL - EXPENDITURES Section II. $3,500,200 517,197 901,000 40,043,000 $44,961,397 $15,873,396 28,203,001 135,000 750,000 $44,961,397 $44,961,397 $44,961,397 A. Special appropriations to non-profit organizations shall be distributed after the execution at 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.