FY2018 Recommended Budget

b. May approve the application and execution of grant agreements to or from public and nonprofit organizations, which are anticipated within budgeted funds unless a grantor organization requires execution by the Town Council. c. May execute contracts as the lessor or lessee of real property for a maximum duration of five years or less. III. Special Appropriation Authorization a. May recognize and appropriate cost share reimbursements for fire protection services, fire protection equipment and facility maintenance services and direct said funds back to the appropriate Department. b. May recognize and appropriate donations received for restricted or special designations. c. May recognize and appropriate all insurance claim reimbursements received along with fees for the disposal of assets and direct said funds back to the affected department. IV. Inter-fund Loan Authorization a. May make inter-fund loans as necessary to meet cash flow needs for approved capital project ordinances for working capital purposes pending receipt of debt proceeds, awarded grant reimbursements or agreements.

Section 16. Utilization of Budget Ordinance

A. This ordinance shall be the basis of the financial plan for the Morrisville Municipal Government during Fiscal Year 2018. The Town Manager/Budget Officer shall administer the Budget and ensure that operating officials are provided guidance and sufficient details to implement their appropriate portion of the Budget. B. The Finance Department shall establish and maintain all records, which are in consonance with this Budget Ordinance and the appropriate Statutes of the State of North Carolina. C. The equivalent estimated value of 1 Cent on the tax rate will be dedicated annually to the Roadway and Transportation Reserve Fund.

Section 17. Re-appropriation of Funds Encumbered in FY 2017

Operating funds encumbered on the financial records as of June 30, 2017, are hereby re-appropriated to Fiscal Year 2018.

Adopted this 23 rd day of May, 2017

______________________________

Mark Stohlman, Mayor

ATTEST:

______________________________

Erin L. Hudson, Town Clerk

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