FY23 FULL BUDGET REPORT ADOPTED

Section 2. Appropriations Authority The grant projects funds are appropriated pursuant to Section 13.2 of Chapter 159 of the General Statutes of North Carolina; therefore, appropriations do not lapse at the end of the fiscal year and are available for duration of the project unless subsequently amended by Town Council, or as specified in Section 3. Section 3. Authority To Transfer Appropriations The Town Manager is authorized to transfer appropriations between projects within the American Rescue Plan Act Fund, provided such transfers do not increase or decrease the total budget for the fund. Section 4. Appropriations To Equal Final Project Expenditures In instances when revenue and expenditure appropriation exceed the final expenditures for a grant project, the Town Manager has authority to close projects and/or programs and reduce appropriations. When actual revenues are available in projects to be closed or which are substantially complete, the Town Manager may transfer savings to uncommitted funds to make available for future appropriations which require Town Council approval. This Section applies to current and prior year appropriations. Section 5. Ordinance Copies Copies of this grant project ordinance shall be furnished to the Budget Officer, the Finance Officer and to the Clerk to Town Council within five days of adoption.

Adopted this 14 th day of June 2022.

______________________________ TJ Cawley, Mayor

ATTEST:

______________________________ Eric W. Smith II, Town Clerk

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