Orange County NC Website
Browse       Search
1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: June 12, 2012 <br /> Action Agenda <br /> Item No. 1 <br /> SUBJECT: Accept and Approve the Five-Year Capital Investment Plan and Adopt the Capital <br /> Project budget of$6,666,950 for the FY 2012-13 County Capital Projects Fund. <br /> DEPARTMENT: Finance and Administrative PUBLIC HEARING: (Y/N) No <br /> Services <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> 1. County Capital Recommended Frank Clifton 919-245-2306 <br /> Projects CIP FY2012-13 Clarence Grier 919-245-2453 <br /> Paul Laughton 919-245-2152 <br /> PURPOSE: To accept and approve the FY2012-17 Orange County Five-Year Capital <br /> Investment Plan and adopt the capita project budget of$6,666,950 for the FY 2012-13 County <br /> Capital Projects Fund. <br /> BACKGROUND: For over 20 years, the County has produced a Capital Investment Plan (CIP) <br /> that establishes a budget planning guide related to capital needs for the County as well as <br /> Schools. The current CIP consists of a 5-year plan that is evaluated annually to include year-to- <br /> year changes in priorities, needs, and available resources. <br /> Capital Investment Plan — Overview <br /> The FY 2012-17 CIP includes County Projects, School Projects, Proprietary Projects, and <br /> Special Revenue Projects. The Special Revenue Projects are a new addition in the FY 2012-17 <br /> CIP, and includes Economic Development and School related projects funded from the Article <br /> 46 (1/4 cent) Sales Tax proceeds. The Article 46 Sales Tax was approved by the voters in the <br /> November 2011 election, and became effective April 1, 2012. <br /> The CIP has been prepared anticipating continued slow economic growth of between 1-2% <br /> annually over the next five years. Many of the projects in the CIP will rely on debt financing to <br /> fund the projects. A Debt Service and Debt Capacity spreadsheet is included in the Appendices <br /> section of the document detailing this planned debt. <br /> Additionally, during FY 2012-13 the County should pursue a review and update of its facility <br /> needs. Several costly maintenance related projects are planned for a few of the County's older <br /> facilities. A thorough analysis is needed of whether these maintenance projects should be <br /> pursued or whether the funding for these items would better serve County needs being allocated <br /> toward new facilities. <br />