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2 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: June 12, 2014 <br /> Action Agenda <br /> Item No. 1 <br /> SUBJECT: FY2014-19 Capital Investment Plan - Accept the Five Year Capital Investment <br /> Plan and Approve the Intent to Adopt Capital Funding for FY2014-15 <br /> DEPARTMENT: County Manager and Finance PUBLIC HEARING: (Y/N) No <br /> and Administrative Services <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Michael Talbert 919-245-2308 <br /> Clarence Grier 919-245-2453 <br /> Paul Laughton 919-245-2152 <br /> PURPOSE: FY2014-19 Capital Investment Plan - Accept the Five Year Capital Investment Plan <br /> and Approve the Intent to Adopt Capital Funding for FY2014-15. <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 2014-19 CIP includes County Projects, School Projects, Proprietary Projects, and <br /> Special Revenue Projects. <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 /> FINANCIAL IMPACT: The Five Year Capital Investment Plan is a long-range financial planning <br /> tool with a financial impact in FY 2014-15, if the first year of the CIP is approved by the Board of <br /> County Commissioners with the adoption of the Annual Operating Budget. <br /> RECOMMENDATION(S): The Manager recommends that the Board accept the Five Year <br /> Capital Investment Plan and Approve the Intent to Adopt Capital Funding for FY2014-15. <br />