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2OO <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> Action A nila <br /> Item No.t, <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: September 8, 1987 <br /> SUBJECT: Policy on Capital Expenditures and, <br /> Capital Reserves <br /> DEPARTMENT: PUBLIC HEARING: Yes X No <br /> Manager <br /> ATTACHMENT(S) : INFORMATION CONTACT:Manager, Ext. 501 <br /> (1) Memorandum from Chair dated July 20, 1987 TELEPHONE NUMBER: <br /> (2) Memorandum from Finance Director Hillsborough — 732-8181 <br /> Chapel Hill - 968-4501 <br /> Mebane - 227-2031 <br /> Durham - 688-7331 <br /> PURPOSE: To consider certain policy issues relating to capital expenditures <br /> and capital reserves. <br /> • <br /> BACKGROUND: During the budget work sessions on the Capital Improvement Program <br /> the need for formal policies on capital items became apparent. As <br /> a result, the Chair presented certain suggested policies in a <br /> memorandum dated July 20th that were discussed at the Board <br /> meeting of August 3rd. It was decided at that time to postpone <br /> adoption of capital policies until after the budget process had <br /> ended. <br /> RECOMMENDATION(S) : As the Board decides. <br />