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July 16, 2024 (Regular Meeting) <br />Page <br />3. Transfer amounts between contingency funds which are set aside for <br />a specific project for budgetary shortfalls or upon the appropriate <br />approval of a change order. <br />4. Enter and execute change orders or amendments to construction <br />contracts in amounts less than $90,000 when the appropriate annual <br />budget or capital project ordinance contains sufficient appropriated <br />but unencumbered funds. <br />5. Award and execute contracts which are not required to be bid or which <br />G.S. 143-131 allows to be let on informal bids so long as the annual <br />budget or appropriate capital project ordinance contains sufficient <br />appropriated but unencumbered funds for such purposes. <br />6. Execute contracts with outside agencies to properly document budgeted <br />appropriations to such agencies where G.S. 153 A-248(b), 259, 449 <br />and any similar statutes require such contracts. <br />7. Reject formal bids when deemed appropriate and in the best interest <br />of Cabarrus County pursuant to G.S. 143-129(a). <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 the <br />Board, on the financial status of each project element in Section I <br />and on the total revenues received or claimed. <br />c. Copies of this capital project ordinance shall be furnished to the <br />Clerk to the governing Board, and to the Finance Director for <br />direction in carrying out this project. <br />d. At the completion of a construction project, all unrestricted excess <br />funds are transferred to the Community Investment Fund and the <br />portion of the Capital Project associated with the project is closed. <br />Adopted this 16th day of July 2024. <br />ATTEST: <br />/s/ Lauren Linker <br />Clerk to the Board <br />CABARRUS COUNTY BOARD OF COMMISSIONERS <br />BY: /s/ Stephen M. Morris <br />Stephen M. Morris, Chairman <br />CABARRUS COUNTY <br />SCHOOL CAPITAL PROJECTS <br />BUDGET ORDINANCE <br />Ordinance No. 2024-12 <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 for the construction and renovations of School <br />Facilities. Details of the project are listed in section C. of this <br />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 Accounting <br />Principles (GAAP) and the budget contained herein. <br />It is estimated that the following revenues will be available to <br />complete capital projects as listed. <br />Page 26 <br />