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Agenda - 12-11-2007-3e
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Agenda - 12-11-2007-3e
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9/1/2008 9:49:49 PM
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8/28/2008 10:39:31 AM
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BOCC
Date
12/11/2007
Document Type
Agenda
Agenda Item
3e
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Minutes - 20071211
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\Board of County Commissioners\Minutes - Approved\2000's\2007
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a <br />considered unfunded, <br />approved bonds and <br />government authorize <br />the County would have to either acquire new debt through voter <br />alternative third party financing or have access to a new local <br />d revenue. <br />It is important to note that while projects fall into the unfunded category, it does <br />not mean that the County does not plan to complete the project. It does mean that <br />in order to complete individual project plans, Commissioners and project partners, <br />such as School Boards, must engage in further discussion regarding <br />infrastructure/facility needs, capital funding and annual operating costs. <br />The attached spreadsheet summarizes unfunded capital needs for Orange County Local <br />Government, Chapel Hill Carrboro City Schools and Orange County Schools for fiscal years <br />2008-18. <br />In accordance with the revised 2008-18 Capital Investment Plan (CIP) approved by <br />Commissioners on December 3, 2007, the next step in the CIP approval process (after tonight) <br />comes with amid-January CIP and Local Revenue Options work session. The Board has not <br />finalized a date for the work session. <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 />Cit 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-ManagerRecommended.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. <br />
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