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2 <br />Culbreth Middle School Science Wing <br />During its April 11, 2013 work session discussion on the FY 2013 -18 Capital Investment Plan <br />(CIP), the Board of County Commissioners requested staff to provide possible debt funding <br />scenario impacts of funding the Culbreth Middle School Science Wing Addition. The Chapel <br />Hill- Canrboro City Schools included this project, totaling $4,971,676, in their Unfunded New <br />School /Facilities section of their FY 2013 -18 CIP request. <br />Attachment 1 represents Scenario #1, which adds the Science Wing to the County Debt Service <br />calculations beginning in FY 2013 -14. This would increase the Debt Service as a percentage of <br />the General Fund Budget to 15.89% in FY 2017 -18 ($1,739,060 over the Debt Capacity). In <br />looking ahead to FY 2018 -19 (Year 6 of the CIP), if all other projects in the CIP remain the <br />same, the percentage would increase to 17.58 %, and would be $5,124,940 over the Debt <br />Capacity. <br />Attachment 2 represents Scenario #2, which adds the Science Wing and Delays the need to <br />open Middle School #5 by two (2) years to the County Debt Service calculations. This would <br />decrease the Debt Service as a percentage of the General Fund Budget to 14.23% in FY 2017- <br />18 (leaving $1,497,483 in Available Debt Service Capacity). However, in looking ahead to FY <br />2018 -19 (Year 6 of the CIP), if all other projects in the CIP remain the same, the percentage <br />would increase to 16.03 %, and would be $2,053,303 over the Debt Capacity. <br />FINANCIAL IMPACT: There is no financial impact related to receiving this information. <br />RECOMMENDATION(S): The Manager recommends that the Boards of the respective <br />governing bodies discuss the information and provide feedback to their individual staffs. <br />