Agenda - 06-13-2013 - 1 - Laserfiche WebLink

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1 ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: June 13, 2013 Action Agenda Item No. 1 SUBJECT: FY2013-18 Capital Investment Plan - Accept the Five Year Capital Investment Plan and Approve the Intent to Adopt Capital Funding for FY2013-14 DEPARTMENT: County Manager and Finance PUBLIC HEARING: (Y/N) No and Administrative Services ATTACHMENT(S): INFORMATION CONTACT: Frank Clifton 919-245-2306 Clarence Grier 919-245-2453 Paul Laughton 919-245-2152 PURPOSE: FY2013-18 Capital Investment Plan - Accept the Five Year Capital Investment Plan and Approve the Intent to Adopt Capital Funding for FY2013-14. BACKGROUND: For over 20 years, the County has produced a Capital Investment Plan (CIP) that establishes a budget planning guide related to capital needs for the County as well as Schools. The current CIP consists of a 5-year plan that is evaluated annually to include year-to- year changes in priorities, needs, and available resources. Capital Investment Plan — Overview The FY 2013-18 CIP includes County Projects, School Projects, Proprietary Projects, and Special Revenue Projects. The CIP has been prepared anticipating continued slow economic growth of between 1-2% annually over the next five years. Many of the projects in the CIP will rely on debt financing to fund the projects. A Debt Service and Debt Capacity spreadsheet is included in the Appendices section of the document detailing this planned debt. Additionally, during FY 2013-14 the County will pursue a review and update of its facility needs. Several costly maintenance related projects are planned for a few of the County's older facilities. A thorough analysis is needed of whether these maintenance projects should be pursued or whether the funding for these items would better serve County needs being allocated toward new facilities.