Agenda - 05-05-1986 - Laserfiche WebLink

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APPROVED AUGUST 4, 1986 MINUTES ORANGE COUNTY BOARD OF COMMISSIONERS MAY 9, 1986 (CONTINUED MEETING FROM 5/5/86) The Orange County Board of Commissioners reconvened on May 9, 1986 at 12:00 noon in the Orange County Board of Education meeting room, Hills- borough, North Carolina from adjourned session of May 5, 1986 regular meeting. BOARD MEMBERS PRESENT: Chair Don Willhoit and Commissioners Shirley Marshall, Moses Carey and Ben Lloyd. BOARD MEMBER ABSENT: Commissioner Norman Walker. STAFF PRESENT: County Manager Kenneth R. Thompson, Finance Director Gordon Baker, Clerk to the Board Beverly Blythe, Planning Director Marvin Collins and Commission for Women Coordinator Andi Reynolds. CONTINUED DISCUSSION ENSUED ON SCHOOL CAPITAL EXPANSION REQUESTS FOR ORANGE HIGH SCHOOL AND THE GLENWOOD/ESTES HILLS MULTIPURPOSE SPACE County Manager Ken Thompson presented an update for funding all projects. This could be accomplished by the redesignation of the projects outlined by the two school systems. There is also the net debt reduction option for borrowing additional funds. Dr. Lunsford explained that alternates could be added at a later date if the same low bidder was involved. Another alternative for a source of funds would be the State Literary Loan Fund. There is about a million dollars left in this fund. The formula for allocation is based upon the net debt reduction. Application for these funds would require approval by the Board of Education and Board of Commissioners. Discussion ensued on the possibilities of borrowing using the net debt reduction The cost figures and time schedule for the proposed capital improvement projects were reviewed. Richard Drake, Maintenance Supervisor for Chapel Hill-Carrboro Schools, explained that the engineering design work for the three projects listed for completion in 1986-87 would need to be done in the summer of 1986-87 with the work actually beginning in late spring or early summer of 1987- 88. Ken Thompson noted that an additional amount of $207,000 could be realized through reallocation of undesignated funds and used for the Orange County High School project. It would cost $324,000 in additional funds for the base project and alternate B. All except $50,000 - $60,000 would be used in 1986-87. Discussion ensued on the appropriated and unappropriated fund balance and the possibility of appropriating $160,000 from fund balance. Thompson explained that three (3) elements go into the fund equity column - the restricted amount which is unappropriated, the appropriated fund balance which will be used to balance the upcoming budget and the undesignated which must remain at least 8% of the general fund budget. After a five (5) minute break, Chair Willhoit asked that Chapel Hill- Carrboro Schools return to the Board when bids are received for the projects slated for completion in 1987-88 and that the approval for these projects be contingent upon available funds at that time. The funds for the engineering work will be included in the 1986-87 budget.