FY2020 Budget

TOWN OF MORRISVILLE * 100 TOWN HALL DRIVE * MORRISVILLE, NC 27560

CAPITAL INVESTMENT BUDGET ORDINANCE 2019-100-B

BE IT ORDAINED by the Town Council of the Town of Morrisville, North Carolina that the following anticipated Capital Investment revenues and project appropriations are hereby adopted for the operation of the Town government and its activities relating to the specified capital projects for the Fiscal Year beginning July 1, 2019. SECTION 1: The capital projects authorized by this ordinance are for the purpose designated by each project scope provided within and relate to advancing Capital Investment Program projects and other capital needs that are not included in the Annual Operating Budget Ordinance.

SECTION 2: The Town Manager is hereby directed to proceed with the capital projects within the terms of the budgets contained herein.

SECTION 3: The Town Manager may make Interfund Loans as necessary for cash flow needs pending receipt of debt proceeds or reimbursement grants or agreements. Such transactions will comply with financial reporting requirements. SECTION 4: The Town Manager has the authority to transfer funds; both expenditures and revenues, between accounts within the same fund as listed in Section 3 as may be necessary, provided however that the total expenditures may not exceed the project total without amendment by this Council.

SECTION 5: The Finance Officer is hereby directed to maintain within the Capital Project Fund, sufficient specific detailed accounting records to satisfy the requirements of the financing agreement(s).

SECTION 6: All purchasing policies and laws, as related to the acquisition, design and construction or purchase of the above capital investment projects, remain in full force and effect.

SECTION 7: Utilization of Capital Investment Budget Ordinance – This ordinance shall be the basis of the financial plan for capital investments projects for the Morrisville municipal government during the 2020 Fiscal Year. The above revenue and expenditure authorizations shall extend from year to year until each individual project is complete.

SECTION 8: Statutory Definition of Project Ordinance – This Capital Investment Budget Ordinance is adopted in conformance with Section 159-13.2 of the Local Government Budget and Fiscal Control Act.

SECTION 9: Other Transfers and Adjustments – The following special transfers and/or adjustments are occurring through approval of the Fiscal Year 2020 capital budget.

SECTION 10: Copies of this capital project ordinance shall be furnished to the Town Clerk, Finance Officer, and the Budget Officer for direction in carrying out the project.

SECTION 11: The following amounts are anticipated and appropriated for the capital projects identified below:

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