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Attachment 4 ^
<br /> September 2015, Recommended 2017, and 2017 CIP Alternative #2 ORANGE COUNTY
<br /> NORTH CAROLINA
<br /> Overview Difference in Debt Funded Projects
<br /> • The County adopts a 5 Year Capital Improvement Plan on an A B c D
<br /> annual basis as part of its budget process. September 2015 Recommended 2017 CIP
<br /> — The County identifies funding sources for each of the projects. CIP Funding 2017 CIP Funding Alternative #2
<br /> Funding
<br /> — Proposed capital projects are reviewed and adjusted as
<br /> necessary each year. 1 Debt Funded Projects
<br /> 2 2016 6,475,175 7,427,000 7,427,000
<br /> • Since September 2015,the County has adopted the FY 2016-2017 3 2017 65,651,867 10,000,000 9,312,000
<br /> CIP and is currently in the process of reviewing the FY 2017-2018 4 2018 28,563,031 67,683,272 66,971,272
<br /> 5 2019 45,634,167 34,245,550 30,520,392
<br /> CIP' 6 2020 7,917,545 76,995,092 61,720,311
<br /> 7 2021 74,603,512 28,584,380 11,366,868
<br /> • As part of the adoption and development of these CIPs, a number 8 2022 - 58,017,330 54,935,304
<br /> of items have changed and evolved since September 2015. 9 Total ('16-'22) 228,845,297 282,952,624 242,253,147
<br /> 10
<br /> • In addition to adjustments made to the projects included in the 11 Total ('17-'22) 222,370,122 275,525,624 234,826,147
<br /> CIP, a number of assumptions have been adjusted in the debt
<br /> funding model, including items such as:
<br /> — Project amounts and timing to match the CIP, including one
<br /> additional year of CIP projects.
<br /> — The addition of short term financings for software, equipment,
<br /> and similar projects.
<br /> — Updated budget assumptions and growth rates for key drivers,
<br /> including:
<br /> — General Fund Revenues.
<br /> — Assessed Value.
<br /> — Value of a Penny.
<br /> — In analyses where an upfront tax increase is calculated, the year
<br /> of the tax increase was shifted from FY 2018 to FY 2019.
<br /> • The following pages contain a summary of the debt issuance
<br /> included in the current draft CIP and the associated impacts.
<br /> DAVENPORT&COMPANY
<br /> June 13,2017 Orange County, NC 16
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