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1 <br /> ORD-2015-018 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: June 16, 2015 <br /> Action Agenda <br /> Item No. 6-d <br /> SUBJECT: Application for North Carolina Education Lottery Proceeds for Chapel Hill — <br /> Carrboro City Schools (CHCCS) and Contingent Approval of Budget <br /> Amendment#10-A Related to CHCCS Capital Project Ordinances <br /> DEPARTMENT: Finance and Administrative PUBLIC HEARING: (Y/N) No <br /> Services <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Attachment 1. CHCCS — Lottery Paul Laughton, (919) 245-2152 <br /> Proceeds Debt Service <br /> Application <br /> PURPOSE: To approve an application to the North Carolina Department of Public Instruction <br /> (NCDPI) to release proceeds from the NC Education Lottery account related to FY 2014-15 <br /> debt service payments for Chapel Hill — Carrboro City Schools (CHCCS), and to approve <br /> Budget Amendment #10-A (amended School Capital Project Ordinances) contingent on <br /> NCDPI's approval of the application. <br /> BACKGROUND: Both County School Systems have previously presented approved <br /> resolutions from their respective Boards requesting that the County modify its Capital Funding <br /> Policy by applying accumulated lottery funds to debt service payments, and permitting current <br /> year withdrawals of lottery proceeds immediately after the State's quarterly lottery fund <br /> allocations. This policy expedites both the application process and the receipt of funds for both <br /> school systems. <br /> Currently, the accumulated available lottery proceeds for Chapel Hill — Carrboro City Schools <br /> (CHCCS) is $203,170. The attached application requests NCDPI to release lottery proceeds in <br /> the amount of $203,170 to cover debt service for projects previously financed for the Chapel Hill <br /> — Carrboro City School system. <br /> Budget Amendment #10-A provides for the receipt of the Lottery Proceeds, contingent on <br /> NCDPI's approval of the application, and substitutes the amount of Lottery Proceeds approved <br /> for debt service as additional Pay-As-You-Go (PAYGO) funds for FY 2014-15 for CHCCS long- <br /> range capital needs and projects, and amends the budgets for the following CHCCS capital <br /> projects: <br />