Agenda - 03-20-2007- - Laserfiche WebLink

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UPDATED 062305 General Fund property tax rate. The proceeds from 3 cents will be earmarked for schools, with funds allocated to each school system for the next fiscal year based on each system's respective share of the student membership as of November 15 immediately preceding the next fiscal year.. Proceeds from 1 cent on the tax rate will be earmarked for County recurring capital needs. With regard to County Equipment and Vehicle acquisitions accomplished through the use of third party financing, the Board of County Commissioners will determine the source of funding to repay the associated debt service at the point that the Board approves the financing arrangement. Construction Management Function Beginning with the 2005-06 fiscal year, the Board of Commissioners will appropriate funding to establish a Construction Management function to oversee County and School capital projects. In fiscal years 2005-06 through 2007-08, $100,000 will be allocated annually to fund this function. The source of funding for the Construction Management function will be split on a 60/40 basis with each school district sharing the schools portion of funding (60%) in accordance with certified student membership as of November 15 each year. Each entity's share of this function will be deducted from its share of long- range capital funding prior to allocating capital funds. Schools Adequate Public Facilities Ordinance Orange County's Schools Adequate Public Facilities Ordinance (SAPFO) and Memoranda of Understanding (MOUs) between the County and its municipal and school partners establish the machinery to assure that, to the extent possible, new development will take place only when there are adequate public school facilities available, or planned, which will accommodate such new development. The Board of County Commissioners is committed to the principle that new school space documented as needed through the annual SAPFO technical review process will be reflected in the next adopted CIP, and will be funded so as to be constructed to be available before the relevant level of service threshold is exceeded. Rescission This policy rescinds the Orange County Board of Commissioners Capital Funding Policy, as originally approved on December 7, 1996 and as amended on February 3, 1998.