Agenda - 04-30-2007-1 - Laserfiche WebLink

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consider "non-traditional schools" as well as more traditional models, in furtherance of evolving educational priorities and smart growth initiatives, and in light of the harsh realities of spiraling costs in the construction industry. Those revised standards, once formally adopted by the BOCC, will play an integral role in shaping the discussions about capital funding -and the sources thereof -that will be needed to construct the new school facilities that were identified in the 2006 -16 Capital Investment Plan. The construction standards are also an essential consideration as the County prepares to engage its external consultant to update the School Construction Impact Fee Technical Report. That report is a precursor to the BOCC's pending review of the appropriateness and adequacy of impact fees that are currently being charged for the construction of each new residential dwelling unit in Orange County. Attachment A - School Construction Standards Apri12047 Update -Fourth Draft b. Landbanking History and Goals Consistent with provisions in the proposed School Construction Standards far consideration of "non-traditional schools", it is timely for the County, school systems, and municipalities to collaborate on opportunities to identify and secure potential sites for future schools. The Chairs recently initiated formal contact with the Towns of Carrboro, Chapel Hill, and Hillsborough and with the City of Mebane to undertake a specific effort to explore the prospects for school sites that are consistent with the new standards and that could potentially be "landbanked" for future use. Elected officials may wish to provide comments ar direction to County and School staffs regarding this initiative. Attachment 8 - 4/2/07 Letter from Chairs to Mayors re: School Site Identification c. Capital Funding Policy, Including Lottery Proceeds The Board of Commissioners approved revisions to the County's capital funding policy at their April 24, 2007 meeting. Of particular note are determinations that have been made regarding the use and timing of budgeting for proceeds from the North Carolina Education Lottery. The timing of the annual cycle for review and updating of the County and Schools' Ten Year Capital Investment Plans has also been moved back to autumn so that adequate review and analysis of capital needs can be accomplished at a time distinct from the annual operating budget development process. County staff will briefly review the policy changes and their operational impacts, and respond to any questions that elected officials may have on this subject. Attachment C - 4/24147 Agenda Abstract: "Approval of County Capital Funding Policy" d. Fund Balance Policy Since 1986, the County and two school systems have been operating within an informal understanding that each school system would observe a specific target in maintaining annual available fund balance in their respective local funds. Far the Chapel Hill-Carrboro Schools, the target has been 5.5%, and for Orange County Schools, the target has been 2.7°~. The higher CHCCS target is related to proceeds from the CHCCS special district tax, receipt of which are typically concentrated in the period between November and January each year. The higher available fund balance allows CHCCS to address cash flow needs during the first few months of each fiscal year, when the monthly current expense appropriations from the County