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During the January 29, 2008 work session, Commissioners offered collective as well as <br />individual thoughts about funded and unfunded projects. In addition, staff proposed the <br />possibility of meeting unfunded capital needs with price tags of $5 million and more with the <br />issuance of future debt. A+tMM WO-3 <br />As staff as shared with the Board on a number occasions, opportunities for the County to <br />issue debt beyond what is currently pro r between now and fiscal year 2009-10 is <br />very limited. However, as shown on tt ;annua ment f this agenda abstract, in 2009-10, <br />based on the assumption that the County's General Fund budget will increase at 7 <br />percent each year, staff anticipates that the County's borrowing capacity will open up <br />thereby allowing the County to finance new projects and still remain within its current Debt <br />Management Policy. <br />FINANCIAL IMPACT: The chart below summarizes funded and unfunded capital needs for the <br />County and both school districts for fiscal years 2008-18. <br />2008-18 Identified County and School Capital Needs <br />Summary of Funded and Unfunded Needs <br />Dollar amounts are shown in millions of dollars <br /> Funded Unfunded Total <br />Orange County Local <br />Government $146.6 $74.4 $221.0 <br />Chapel Hill Carrboro <br />City Schools $39.7 $245.5 $285.2 <br />Orange County <br />Schools $29.6 $23.8 $53.4 <br />Total 2008-18 County <br />and School Capital <br />Needs $215.9 $343.7 $559.6 <br />For details on individual County and Schools funded projects, refer to the on-line version of the <br />proposed 2008-18 County and Schools Capital Investment Plan (CIP) <br />(http://www.co.orange.nc.us/budget/2008-18CIP-Ma nagerRecommended.asp). The attached <br />Summary of 2008-18 Unfunded County and Schools' Capital Needs summarizes unfunded <br />capital needs included in the above table. <br />RECOMMENDATION(S): The Manager recommends that the Board of County Commissioners <br />receive the presentation of Orange County Schools 2008-18 Unfunded Capital Needs.