Agenda - 04-21-2015 - 6a - Laserfiche WebLink

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22 1 • General Fund — remains under the 15% debt capacity throughout the 5-year CIP; 2 highest % is 14.08% in Year 4 (FY 2018-19), and remains under 15% throughout 3 the Years 6-10 period. 4 • Water and Sewer Projects (Article 46 Sales Tax proceeds) — current projected 5 revenue earmarked for debt service is adequate to cover debt service payments 6 over the 5-Year CIP. 7 • Capital Funding, Debt Management, and Fund Balance Management Policies 8 9 Document Availability 10 • Clerk to the Board of Commissioners 11 • County Finance and Administrative Services Office 12 • Orange County Website 13 • www.orangecountync.gov 14 15 Paul Laughton said one of the things controlling the drop in schools percentage in years 16 1 through 5 is the fact that a couple of the schools moved out of the CIP due to capacity issues. 17 He noted that the target over a 10 year period is for capital funding to include schools at 60 18 percent and County projects at 40 percent, and this is pretty close that that goal. 19 Referring to the slide on Appendices, Paul Laughton reminded the Board that debt 20 capacity and debt affordability are two different things. He said you can be under debt capacity, 21 but you must have the revenues to pay for the increase in debt service. He noted that in years 22 2017-18, the debt service increases by $2.1 million, and then in 2018-19 it increases another 23 $1.7 million. He said if the revenue stream is not sufficient, a tax increase may be required at 24 this time to pay for the debt. 25 Bonnie Hammersley said she met with all of the department directors, as well as the 26 schools, and this was a good process. She will come to the future work sessions with a more 27 vertical view of the big picture. 28 29 PUBLIC COMMENT: 30 Bonnie Hauser thanked the Board for the decision to defer their decision on the bond 31 referendum. She said it is clear that better policies are needed to manage the older schools. 32 She asked the Board to please consider the policies that govern how funds are allocated to the 33 schools. She said the current policy design is such that school maintenance needs are made at 34 the expense of teachers and classrooms, and this is why maintenance needs have been 35 deferred for years. She said it is time to modernize these policies. 36 Bonnie Hauser said there is nothing in the CIP about modernizing the Bradshaw Quarry 37 Solid Waste Convenience Center, and she would like for some statement to be included about 38 this facility. She does not want to see it close again. 39 Commissioner McKee noted that there has been no delay or suspension of the bond 40 discussion, and it is in process. 41 Commissioner Dorosin asked for clarification regarding the Rogers Road Infrastructure. 42 Bonnie Hammersley said the schedule has not changed. She said the way it was 43 originally listed in the CIP, all of the money was in one year, and there is one more phase left. 44 She said she and the County attorney are in the process of creating the next interlocal 45 agreement. She said the next design phase would take a year, and the anticipated start is in 46 April or May of 2015, and this will be complete in June or July of 2016. She said the schedule 47 has not changed, but the money has been moved to more accurately fall where it will be spent. 48 Commissioner Dorosin said he would like for them to expedite this process. 49 Bonnie Hammersley said there are a number of easements, and there is work being 50 done with the Jackson Center on these.