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April 16, 2018 (Regular Meeting) <br />Page 3519 <br />all County funds are used for statutorily permissible public <br />purposes. <br />B. The County Manager or designee is hereby authorized to transfer <br />appropriations within or between funds, or modify revenue and <br />expenditure projections as contained herein under the following <br />conditions: <br />1. The Manager may transfer amounts between objects of expenditure <br />and revenues within a function without limitation. <br />2. The County Manager may transfer amounts up to $100,000 between <br />functions of the same fund. <br />3. The County Manager may transfer amounts between contingency <br />funds which are set aside for a specific project for budgetary <br />shortfalls or upon the appropriate approval of a change order. <br />9. The County Manager is authorized to transfer funds from the <br />General Fund or Capital Reserve Fund to the appropriate fund <br />for projects approved within the Capital Improvement Plan for <br />the current fiscal year. <br />5. Upon notification of funding increases or decreases to existing <br />grants or revenues, or the award of grants or revenues, the <br />Manager or designee may adjust budgets to match, including <br />grants that require a County match for which funds are <br />available. <br />6. The Manager or designee may adjust debt financing from estimated <br />projections to actual funds received. <br />7. The County Manager may enter into and execute change orders or <br />amendments to construction contracts in amounts less than <br />$90,000 when the appropriate annual budget or capital project <br />ordinance contains sufficient appropriated but unencumbered <br />funds. <br />8. The County Manager may award and execute contracts which are <br />not required to be bid or which G.S. 193-131 allows to be let <br />on informal bids so long as the annual budget or appropriate <br />capital project ordinance contains sufficient appropriated but <br />unencumbered funds for such purposes. <br />9. The County Manager may execute contracts with outside agencies <br />to properly document budgeted appropriations to such agencies <br />where G.S. 153 A -298(b), 259, 999 and any similar statutes <br />require such contracts. <br />lo. The County Manager may reject formal bids when deemed <br />appropriate and in the best interest of Cabarrus County pursuant <br />to G.S. 193-129(a). <br />11. The County Manager may reduce revenue projections consistent <br />with prevailing economic conditions, and also reduce <br />expenditures correspondingly. <br />Section III. <br />This ordinance and the budget documents shall be the basis of the financial <br />plan for the County of Cabarrus. <br />a. The Finance Director is hereby directed to maintain within the <br />Capital Project Fund sufficient detailed accounting records to <br />satisfy the requirements of the law. <br />b. The Finance Director is directed to report, at the request of <br />the Board, on the financial status of each project element in <br />Section I and on the total revenues received or claimed. <br />c. Copies of this capital project ordinance shall be furnished to <br />the Clerk to the governing Board, and to the Finance Director <br />for direction in carrying out this project. <br />d. At the completion of a construction project, all unrestricted <br />excess funds are transferred to the General Fund and the <br />