Minutes 03-11-2014 - Laserfiche WebLink

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• Lottery Proceeds ($1,336,280) — decrease of approximately $17,000 from FY 2013-14 (based on State projections) Appendices • Debt Service and Debt Capacity: • General Fund — remains under the 15% debt capacity throughout the 5-year CIP; reaches 15.44% in Year 6 (FY 19-20) with a high of 19.15% in Year 8 (FY 21-22) • Water and Sewer Projects (Article 46 Sales Tax proceeds) — current projected revenue earmarked for debt service is adequate to cover debt service payments over the 5-Year CIP • County Capital Project balances • Capital Funding, Debt Management, and Fund Balance Management Policies Document Availability • Clerk to the Board of Commissioners • County Finance and Administrative Services Office • Orange County Website • www.orangecountync.gov Paul Laughton referred to the pie charts regarding appropriation and revenues. He said the appropriations can really change year to year. He said a large part of this year's increase is driven by the jail project. He said the SAPFO numbers for the schools drive the needs and capacity decisions. He said the CIP shows many of these in years 6 through 10. He reminded the Board of the capitol funding policy included in the appendices section, which gives a principle target of providing capital funding of 60 percent to schools, and 40 percent to the County over a decade, starting in 2005. He said the County is right at this goal if you look at the 10 year period, with 59.6 percent schools and 40.4 percent County. Paul Laughton said the HVAC chiller is having a lot of problems and there is $150,000 in HVAC to pay for this. He said the total cost is $200,000, but there is $100,000 in available contingency from the Whitted project that can be used. Chair Jacobs said the current chiller has been a problem from the start, and there is an issue in the community with the sound. He suggested that the replacement be vetted for sound. Paul Laughton said the co-build concept for EMS substations with the towns of Chapel Hill and Hillsborough includes a plan to do two buildings in year 2, with a cost of$600,000 per substation. He said this would be one for the town of Chapel Hill and one with the town of Hillsborough. He said this would be done again the next year, followed by two stand alone stations. He said this would include one in year 5 and one in the out years. He said this provides 4 co-built locations and 2 stand-alones, which is a major change. He said the Lands Legacy allocations are $400,000 in year 1 and $2 million in year 2. Commissioner Dorosin asked if the Lands Legacy plan is to spend $2.4 million by 2015-16 buying more land. Paul Laughton said that money would be available. Commissioner Dorosin asked if the money could be given to something else if it is not spent. Paul Laughton said that would be a decision for the Board, but the people approved this bond for use with Lands Legacy. He said this lapsed in 2010, and it will require refinancing and re-funding if it is the desire of the Board.