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July 16, 2024 (Regular Meeting) <br />Page <br />shortfalls or upon the appropriate approval of a change order. <br />4. The County Manager is authorized to transfer funds from the <br />General Fund or Capital Reserve Fund to the appropriate fund for <br />projects approved within the Capital Improvement Plan for the <br />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 grants <br />that require a County match for which funds are 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 $90,000 <br />when the appropriate annual budget or capital project ordinance <br />contains sufficient appropriated but unencumbered funds. <br />8. The County Manager may award and execute contracts which are not <br />required to be bid or which G.S. 143-131 allows to be let on <br />informal bids so long as the annual budget or appropriate capital <br />project ordinance contains sufficient appropriated but <br />unencumbered funds for such purposes. <br />9. The County Manager may execute contracts with outside agencies to <br />properly document budgeted appropriations to such agencies where <br />G.S. 153 A-248(b), 259, 449 and any similar statutes require such <br />contracts. <br />10. The County Manager may reject formal bids when deemed appropriate <br />and in the best interest of Cabarrus County pursuant to G.S. 143- <br />129 (a) . <br />11. The County Manager may reduce revenue projections consistent with <br />prevailing economic conditions, and also reduce expenditures <br />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 the <br />Board, on the financial status of each project element in Section <br />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 for <br />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, Community <br />Investment Fund or other Capital Project Fund and the portion of <br />the Capital Project associated with the project is closed. <br />Adopted this 16th Day of July 2024. <br />CABARRUS COUNTY BOARD OF COMMISSIONERS <br />BY: /s/ Stephen M. Morris <br />Stephen M. Morris, Chairman <br />ATTEST: <br />/s/ Lauren Linker <br />Clerk to the Board <br />(G) REPORTS <br />(G-1) BOC - Receive Updates from Commission Members Who Serve as Liaisons to <br />Municipalities or on Various Boards/Committees <br />Page 28 <br />