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8. The County Manager may award and execute contracts which are not required to <br />be bid or which 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 appropriated but <br />unencumbered funds for such purposes. <br />9. The County Manager may execute contracts with outside agencies to properly <br />document budgeted appropriations to such agencies where G.S. 153 A-248(b), <br />259, 449 and any similar statutes require such contracts. <br />10. The County Manager may reject formal bids when deemed appropriate and in the <br />best interest of Cabarrus County pursuant to G.S. 143-129(a). <br />11. The County Manager may reduce revenue projections consistent with prevailing <br />economic conditions, and also reduce expenditures correspondingly. <br />Section III. <br />This ordinance and the budget documents shall be the basis of the financial plan for the <br />County of Cabarrus. <br />a. The Finance Director is hereby directed to maintain within the Capital Project Fund <br />sufficient detailed accounting records to satisfy the requirements of the law. <br />b. The Finance Director is directed to report, at the request of the Board, on the <br />financial status of each project element in Section I and on the total revenues <br />received or claimed. <br />Copies of this capital project ordinance shall be furnished to the Clerk to the <br />governing Board, and to the Finance Director for direction in carrying out this <br />project. <br />d. At the completion of a construction project, all unrestricted excess funds are <br />transferred to the General Fund, Community Investment Fund or other Capital <br />Project Fund and the portion of the Capital Project associated with the project is <br />closed. <br />Adopted this 21 st day of January 2025. <br />CABARRUS COUNTY BOARD OF COMMISSIONERS <br />Chris Measmer, Chairman <br />ATTEST: <br />Clerk to the Board <br />Page193 <br />