Orange County NC Website
Browse       Search
2 <br /> (c) It is the intent of the Board of County Commissioners to dedicate the equivalent <br /> of four cents on the annual ad valorem property tax to funding recurring capital <br /> expenditures for schools (three cents) and county (1 cent). However, there will. <br /> be times when the County will be bound fiscally and unable to achieve full <br /> funding. During those times, Commissioners may find it necessary to depart <br /> from the Policy. During the 2008-18 Capital Investment Plan development <br /> process, the Board will consider a timetable for phasing in the additional two— <br /> cents necessary to fully the recurring capital component of this policy. <br /> (d) During October of each fiscal year, the County Manager shall present, to the <br /> Board, ten-year County and School capital needs and funding plans in the form <br /> of a Capital Investment Plan. Each year, the Board of Commissioners shall <br /> conduct a public hearing on the Manager's Recommended CIP during <br /> November and subsequently adopt a ten-year Capital Investment Plan (CIP). <br /> (e) The first year of the adopted ten-year Capital Investment Plan shall become <br /> the basis for the annual capital budget and incorporated into the next annual <br /> operating budget recommended by the County Manager. <br /> 2) Request that the CHCCS and OCS Boards of Education prioritize existing school facility <br /> needs and present those needs with the School Collaboration Work Group for their review <br /> during Summer 2007. Based on the outcome of the Collaboration Work Group's review and <br /> recommendations: <br /> (a) Direct County staff to analyze how the school facility needs can be <br /> accommodated in the County's debt issuance plans for fiscal year 2007-08 and <br /> beyond. <br /> (b) Present the outcomes of these recommendations at the September 2007 Joint <br /> Meeting of the Boards of Education and County Commissioners. <br /> 3) Commissioners also directed staff to: <br /> (a) Prepare an interim County and School pay-as-you-go capital budget for fiscal <br /> year 2007-08 to be presented to Commissioners in conjunction with the <br /> County's annual operation budget in May 2007. <br /> (b) Present, in October 2007, ten-year Capital Investment Plan that includes the <br /> outcomes of the School Collaboration Work Group as outlined in item 2 <br /> (above). <br /> During the April 10 meeting, Commissioner Gordon requested staff to contact state officials to <br /> see if there was a way for the County to request Lottery proceeds prior to them being expended <br /> by the County. Budget Director Donna Coffey spoke with NC Department of Public Instruction <br /> and was advised that the County can request Lottery funds before actually expending them as <br /> long as (1) the County anticipates making the expenditure within the fiscal year and (2) there are <br /> funds in the account to request. It is important to note that in accordance with General Statutes, <br /> the Lottery Commission is required to make a deposit into the school construction account four <br /> times per year. The Statute is silent on specific dates or timing of those deposits. This year, for <br /> example, the Lottery Commission has made two deposits on a quarterly basis — one in October <br /> 2006 and the other in February 2007. However, according to staff from the Department of <br /> Public Instruction, if the Commission chose to make four deposits in four consecutive days at <br /> the end of the fiscal year, they would comply with the statute. <br /> To that end, it is suggested that an additional amendment to the County's Capital Funding <br /> Policy be made: <br />