Orange County NC Website
Browse       Search
15 <br /> ORD-2015-020 Attachment 2 <br /> Section XI. Internal Service Fund -Vehicle Replacement Fund <br /> The Vehicle Replacement Fund will centralize and account for the purchase and <br /> replacement of County vehicles purchased with revenues and funding provided by the <br /> Governmental Funds of Orange County (General Fund, Special Revenue and Grants <br /> Funds). Projected sources of revenues and funds for fiscal year 2015-16 will be <br /> $793,209 of short-term installment financing and internal reserves, and the projected <br /> expenses for the purchase of vehicles for fiscal year 2015-16 will be $793,209. <br /> Section XII. Agency Funds <br /> These funds account for assets held by the County as an agent for other government <br /> units, and by State Statutes, these funds are not subject to appropriation by the Board of <br /> County Commissioners, and not included in this ordinance. <br /> Section XIII. Encumbrances <br /> Operating funds encumbered by the County as of June 30, 2015 are hereby <br /> reappropriated to this budget. <br /> Section XIV. Capital Projects & Grants Fund <br /> The County Capital Improvements Fund, Schools Capital Improvements Fund, <br /> Community Development Fund and the Grant Projects Fund are hereby authorized. <br /> Appropriations made for the specific projects or grants in these funds are hereby <br /> appropriated until the project or grant is complete. <br /> The County Capital Projects Fund FY 2015-16 budget, with anticipated fund revenues of <br /> $6,751,674 and project expenditures of $6,751,674 is hereby adopted in accordance <br /> with G.S. 159 by Orange County for the fiscal year beginning July 1, 2015, and ending <br /> June 30, 2016, and the same is adopted by project. <br /> The School Capital Projects Fund FY 2015-16 budget, with anticipated fund revenues of <br /> $4,952,849, and project expenditures of $4,952,849, is hereby adopted in accordance <br /> with G.S. 159 by Orange County for the fiscal year beginning July 1, 2015, and ending <br /> June 30, 2016, and the same is adopted by project. <br /> The County Grant Projects Fund FY 2015-16 budget, with anticipated fund revenues of <br /> $780,281, and project expenditures of $780,281, is hereby adopted in accordance with <br /> G.S. 159 by Orange County for the fiscal year beginning July 1, 2015, and ending June <br /> 30, 2016, and the same is adopted by project. <br /> Any capital project or grant budget previously adopted, the balance of any anticipated, <br /> but not yet received, revenues and any unexpended appropriations remaining on June <br /> 30, 2015, shall be reauthorized in the 2015-16 budget. <br /> Section XV. Contractual Obligations <br /> The County Manager is hereby authorized to execute contractual documents under the <br /> following conditions: <br /> 1. The Manager may execute contracts for construction or repair projects that do <br /> not require formal competitive bid procedures, and which are within budgeted <br /> 8 <br />