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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: December 11, 2007 <br />Action Agenda <br />Item No. ~-~ <br />SUBJECT: Presentation of Orange County Schools 2008-18 Unfunded Capital Needs <br />DEPARTMENT: Budget PUBLIC HEARING: (YIN) No <br />ATTACHMENT(S): <br />Summary of 2008-18 Unfunded County <br />and Schools' Capital Needs <br />INFORMATION CONTACT: <br />Donna Coffey, (919) 245-2151 <br />PURPOSE: To receive a presentation of Orange County Schools 2008-18 Unfunded Capital <br />Needs. <br />BACKGROUND: <br />The Board of County Commissioners received the proposed 2008-18 County and Schools <br />Capital Investment Plan (CIP) (http://www.co.orange.nc.us/budget/2008-18CIP- <br />ManagerRecommended.asp) on November 5, 2007 and during their November 13, 2007 work <br />session, Commissioners and staff had an opportunity to exchange ideas about the proposal. As <br />presented to the Board, the plan included funded capital needs for the County, Chapel Hill <br />Carrboro City Schools and Orange County Schools as well as unfunded needs for the County <br />and Chapel Hill Carrboro City Schools. Due to transitioning from the former Superintendent to <br />the newly hired one, the Orange County School Board had an opportunity to review and <br />approve that District's unfunded capital needs for the ten-year period of 2008-18 and <br />consequently a list of unfunded needs for the District were absent from the County's proposed <br />Capital Investment Plan. Tonight's meeting offers the Orange County Schools Board of <br />Education an opportunity to share the District's unfunded capital needs with Commissioners. <br />Definition of Funded and Unfunded Capital Needs <br />Recent CIP related discussions have centered on the differences between funded and unfunded <br />capital needs. <br />Funded capital needs include projects whose costs fall within current and future <br />revenues available to the County. <br />o For purposes of the 2008-18 CIP includes pay-as-you-go funding and unspent <br />1997 and 2001 voter approved bonds funds. Pay-as-you-go funding ~ consists of <br />the net proceeds of dedicated sales and property tax CIP revenues after School <br />and County debt service obligations have been satisfied plus project related grants <br />and fees. <br />Unfunded capital needs include projects whose costs fall beyond current and projected <br />revenues available to the County. In order to complete the projects that are currently <br />