Orange County NC Website
Browse       Search
7 <br /> 1 <br /> 2 g. Presentation of Manager's Recommended FY 2017-22 Capital Investment Plan <br /> 3 (CIP) <br /> 4 The Board received the Manager's Recommended FY 2017-22 Capital Investment Plan. <br /> 5 Bonnie Hammersley reviewed the following background information: <br /> 6 <br /> 7 BACKGROUND: <br /> 8 Each year, the County produces a Capital Investment Plan (CIP) that establishes a budget- <br /> 9 planning guide related to capital needs for the County as well as Schools. The current CIP <br /> 10 consists of a 5-year plan that is evaluated annually to include year-to-year changes in priorities, <br /> 11 needs, and available resources. Approval of the CIP commits the County to the first year <br /> 12 funding only of the capital projects; all other years are used as a planning tool and serves as a <br /> 13 financial plan. <br /> 14 <br /> 15 Capital Investment Plan — Overview <br /> 16 The FY 2017-22 CIP includes County Projects, School Projects, and Proprietary Projects. The <br /> 17 School Projects include Chapel Hill-Carrboro City Schools, Orange County Schools, and <br /> 18 Durham Technical Community College— Orange County Campus projects. The Proprietary <br /> 19 Projects include Water and Sewer, Solid Waste Enterprise Fund, and Sportsplex projects. The <br /> 20 CIP has been prepared anticipating slow to moderate economic growth of approximately 1% in <br /> 21 property tax growth and 4% in sales tax growth annually over the next five years. Many of the <br /> 22 projects in the CIP will rely on debt financing to fund the projects. <br /> 23 <br /> 24 Recommended capital expenditures for FY 2017-18 total $27.5 million. Of this amount, $16 <br /> 25 million is recommended for County capital projects, $3.73 million is recommended for <br /> 26 proprietary fund spending including water and sewer projects, Solid Waste, and Sportsplex, and <br /> 27 $7.78 million is recommended for school capital improvements. <br /> 28 <br /> 29 The recommended FY 2017-18 CIP represents a decrease of approximately $41 million <br /> 30 compared to the FY2016-17 Approved CIP. The FY2016-17 CIP included the first of three $40 <br /> 31 million allocations ($120 million total) of general obligation bond funding for school capital <br /> 32 projects and the first of two $2.5 million allocations ($5 million total) to fund affordable housing <br /> 33 projects. When the bond funds are excluded from this comparison, the total Recommended <br /> 34 FY2017-18 CIP represents a decrease of approximately $1 million compared to last fiscal year. <br /> 35 This memorandum describes projects that are recommended in the first year of the FY2017-22 <br /> 36 CIP and other significant changes that are recommended compared to the CIP approved last <br /> 37 fiscal year. <br /> 38 <br /> 39 Bonnie Hammersley made the following PowerPoint presentation: <br /> 40 <br /> 41 County Manager's Recommended <br /> 42 FY2017-22 Capital Investment Plan (CIP) <br /> 43 April 4, 2017 <br /> 44 <br /> 45 FY2017-22 CAPITAL INVESTMENT PLAN <br /> 46 Document includes: <br /> 47 ➢ Transmittal Letter <br /> 48 ➢ CIP Summaries <br /> 49 ➢ County Projects <br /> 50 ➢ Proprietary Projects <br />