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June 18, 2018 (Regular Meeting) <br />Section III. <br />Page 3586 <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 <br />estimated 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 />10. The County Manager may reject formal bids when deemed <br />appropriate and in the best interest of Cabarrus County <br />pursuant 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 />This ordinance and the budget documents shall be the basis of the <br />financial 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 portion <br />of the Capital Project associated with the project is closed. <br />Adopted this 18�" Day of June, 2018. <br />CABARRUS COUNTY BOARD OF COMMISSIONERS <br />BY: /s/ Stephen M. Morris <br />Stephen M. Morris, Chairman <br />ATTEST: <br />/s/ Angela Poplin <br />Interim Clerk to the Board <br />ordinance No. 2018-20 <br />CABARRUS COUNTY SCHOOL CONSTRUCTION PROJECT <br />BUDGET ORDINANCE <br />BE IT ORDAINED by the Board of Commissioners of Cabarrus County, North <br />