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For County projects, beginning in 1998 -99 the equivalent of one cent on the general <br />• fund property tax rate will be necessary. The Board of Commissioners in adopting <br />this policy instructed staff to identify other funding options rather than a tax <br />increase to make up this shortfall. The Board of Commissioners may consider <br />shifting the one cent capital reserve fund to be dedicated to County projects (see <br />Capital Reserve section below). <br />E. School/parks Capital Reserve <br />The school /parks capital reserve fund, established by the Board of Commissioners in <br />1995 -96, receives annual allocations equivalent to one cent on the General Fund <br />Property Tax Rate (not adjusted for the 1997 revaluation of property but adjusted for <br />revaluation of real property beyond the 1997 revaluation.) This reserve will accumulate <br />during 1996 -97 and 1997 -98 with these funds used for site acquisition for schools and <br />or recreation, or the combination of both. The Board of Commissioners will evaluate <br />this reserve fund during 1998 -99 to determine if this one cent reserve should continue. <br />F. School/Parks/Recreation <br />It is the intent of the Board of County Corurnissioners to evaluate each new proposed <br />school in both School Districts for joint use to include park and recreation use. <br />G. Recurring Capital <br />Recurring capital for each School System will be based on the equivalent of three cents <br />on the General Fund Property Tax Rate (not adjusted for the 1997 revaluation of real <br />property but adjusted each revaluation thereafter.) Funds will be allocated to each <br />school system based on the State Department of Public Instruction planning allocation <br />which is the same method used to allocate current expense appropriation. <br />H. Planning Period <br />During each fiscal year, the Board of Commissioners shall adopt a ten year Capital <br />Improvements Plan. The ten year plan shall include anticipated County capital <br />expenditures costing $30,000 or more (excluding equipment) and anticipated school <br />capital expenditures costing $50,000 or more (excluding equipment). Equipment <br />costing $1,000 or more can be considered as part of the Capital Improvements Plan. <br />The first year of the adopted Ten Year Capital Improvements Plan shall be <br />incorporated into the next annual operating budget recommended by the County <br />Manager. <br />• <br />