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1 <br /> <br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: October 26, 2010 <br />Action Agenda <br />Item No. 3 <br />• <br />SUBJECT: Review of the new format for the County's Capital Investment Plan (CIP), <br />including revisions to the existing Capital Funding Policy and Debt <br />Mana ement Policy. <br />DEPARTMENT: County Manager & Financial <br />Services <br />PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): <br />Attachment 1: 2"d Draft of the 2011-16 <br />Orange County Capital <br />Investment Plan <br />Attachment 2: 2"d Draft of the Orange <br />County Capital Funding <br />Policy <br />Attachment 3: 2"d Draft of the Orange <br />County Debt <br />Management Policy <br />INFORMATION CONTACT: <br />Frank Clifton, County Manager, <br />245-2300 <br />Clarence Grier, Financial Services, <br />(919) 245-2453 <br />Michael Talbert, Financial Services, <br />(919) 245-2153 <br />PURPOSE: To review and discuss proposed changes in format for the County's Capital <br />Investment Plan, as well as changes in the Capital Funding Policy and Debt Management <br />Policy included in the CIP. (All financial information presented in the CIP is for illustration <br />only) <br />BACKGROUND: On September 14, 2010, the Board was presented and reviewed the first <br />draft of a revised Five Year Capital Investment Plan. As the format was presented and <br />discussed, changes were requested to improve that format and provide the Board with <br />information that is necessary to make Capital Funding decisions. Attached is the revised 2"d <br />draft of the format for the Orange County Capital Investment Plan; which includes the 2"d drafts <br />of the County's Capital Funding Policy and Debt Management Policy <br />For over 20 years, the County has produced a Capital Improvement Plan that establishes a <br />program of improvements for the County as well as Schools. The CIP was originally prepared <br />as a 5 year planning document that was re-evaluated annually to include year-to-year changes <br />in priorities, needs, and available resources. Over the years, the CIP evolved to a 10 year plan <br />and the name was changed to the Capital Investment Plan. The CIP has evolved over the years <br />• to also include a Capital Funding Policy and Debt Management Policy. The 2008-18 Capital <br />Investment Plan was the most recent 10 year CIP approved by the Board. <br />