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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: May 9, 2017 <br /> Action Agenda <br /> Item No. 1 <br /> SUBJECT: Discuss and Prioritize Capital Projects in the Manager's Recommended FY <br /> 2017-22 Capital Investment Plan (CIP) <br /> DEPARTMENT: County Manager and Finance and Administrative Services <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Attachment 1: FY 2017-22 Manager Bonnie Hammersley, (919) 245-2300 <br /> Recommended Capital Investment Plan Travis Myren, (919) 245-2308 <br /> Previously Provided Under Separate Gary Donaldson, (919) 245-2453 <br /> Cover—Also Available Online: Paul Laughton, (919) 245-2152 <br /> Manager Recommended FY2017-22 <br /> County Capital Investment Plan <br /> http://www.orangecountync.gov/departme <br /> nts/finance and administrative services.p <br /> Attachment 2: FY 2017-22 Capital <br /> Investment Plan Alternative 1 <br /> Attachment 3: Davenport and Company <br /> County Tax Supported CIP Discussion <br /> Materials <br /> PURPOSE: To discuss and prioritize Capital Projects in the Manager's Recommended FY <br /> 2017-22 Capital Investment Plan to achieve the County's Debt Management Policy of fifteen <br /> percent (15%) of General Fund revenues, and to achieve Debt Affordability by minimizing or <br /> eliminating any cash flow shortfalls. <br /> BACKGROUND: On April 4, 2017, the Manager's Recommended FY 2017-22 Capital <br /> Investment Plan (CIP) was presented to the Board of County Commissioners (See Attachment <br /> 1). The Five-Year Plan includes County Capital projects, School Capital projects (including <br /> Chapel Hill-Carrboro City Schools, Orange County Schools, and Durham Technical Community <br /> College — Orange County Campus), as well as Proprietary projects (including Water and Sewer, <br /> Solid Waste Enterprise Fund, and Sportsplex Enterprise Fund). <br /> The projects listed in the FY 2017-22 CIP totaled $274,423,538, with Debt Capacity Ratios <br /> (Debt Service to General Fund revenues) ranging from 12.8% in FY 2017-18 to 17.4% in FY <br /> 2021-22. The County has a Debt Management Policy which states, "The County will strive to <br /> maintain its annual debt service costs at a level no greater than fifteen percent of general fund <br /> revenues, including installment purchase debt". This policy is consistent with the Government <br /> Finance Officers Association best practice. <br />