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August 20, 2018 (Regular Meeting) <br />Section III. <br />Page 3666 <br />10. The County Manager may reject formal bids when deemed <br />appropriate and in the best interest of Cabarrus County pursuant <br />to G.S. 143-129(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 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 portion <br />of the Capital Project associated with the project is closed. <br />Adopted this 20th day of August, 2018. <br />CABARRUS COUNTY BOARD OF COtM7ISSIONERS <br />BY: /s/ Stephen M. Morris <br />Stephen M. Morris, Chairman <br />ATTEST: <br />/s/ Lauren Linker <br />Clerk to the Board <br />Ordinance No. 2018-38 <br />CABARRUS COUNTY CONSTRUCTION AND RENOVATION <br />PROJECT <br />BUDGET ORDINANCE <br />BE IT ORDAINED by the Board of Commissioners of Cabarrus County, North <br />Carolina that, Pursuant to Section 13.2 of Chapter 159 of the General Statutes <br />of North Carolina, the following capital project ordinance is hereby adopted: <br />Section I. <br />A. The project authorized is the various County construction and <br />renovation related projects. Details of the projects are listed in <br />section C. of this Project Ordinance. <br />B. The officers of this unit are hereby directed to proceed with this <br />capital project within the terms of the Generally Accepted <br />Accounting Principles (GAAP) and the budget contained herein. <br />C. It is estimated that the following revenues will be available to <br />complete capital projects as listed. <br />Capital Reserve Fund Contribution <br />Rental - Tower Lease <br />Lease Proceeds (Robert Wallace Park) <br />General Fund Contribution <br />Sale of Fixed Assets <br />Contributions and Donations <br />Park k Recreation Trust Fund(PARTF) Grant <br />Capital Projects Fund Contribution <br />TOTAL REVENUES <br />D. The following appropriations are made as listed. <br />$13,238,399 <br />847,693 <br />4,596,394 <br />5,216,780 <br />423,417 <br />117,036 <br />350,000 <br />5,775 <br />$24,795,494 <br />