Orange County NC Website
Browse       Search
w <br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />Action Agenda <br />Item No V-A <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: October 1, 1990 <br />SUBJECT: Public School Building Capital Funds <br />DEPARTMENT Budget <br />ATTACHMENT(S) <br />Application <br />DPI Certificate of Approval <br />Proposed Capital Project Ordinances <br />PUBLIC HEARING YES NO X <br />INFORMATION CONTACT <br />Budget Office, ext 2450 <br />TELEPHONE NUMBER <br />Hillsborough 732 -8181 <br />Chapel Hill 968 -4501 <br />Mebane 227 -2031 <br />Durham 688 -7331 <br />I <br />PURPOSE: To make formal application to the State for release of a <br />portion of Public School Building Capital Funds that have <br />accumulated on behalf of Orange County, and to adopt <br />associated capital project ordinances. <br />BACKGROUND: Since 1987, the State has set aside funds every quarter <br />for Orange County school capital outlay projects in the <br />Public School Building Capital Fund. Thesap have been <br />included in the County's CIP as part of the "pay as you <br />go" funds allocated each year to the two school systems. <br />The Orange County account balance as of August 31, 1990 <br />was $2,131,219. <br />The orange County Schools capital project plan (as well as <br />the County CIP and the County's 1990 -91 budget) for pay as <br />you go expenditures for 1990 -91 includes $1,269,170 for <br />New Hope Elementary School. These expenditures need to be <br />paid for through State Public School Building Capital <br />Funds. The attached application form, when approved by <br />both the Board of Commissioners and the Board of <br />Education, will be reviewed and approved by the State <br />Office of Budget and Management, and will make available <br />the $1,269,170 needed for planned 1990 -91 pay as you go <br />project expenditures. The Orange County Board of <br />Education approved the application at their September 24, <br />1990 meeting. <br />The attached capital project ordinances would authorize <br />expenditure of State Public School Building Capital Funds <br />for New Hope Elementary School and would complete the <br />allocation of funds previously approved in the CIP, but <br />not yet needed for expenditure, to reserve project <br />accounts for the two school systems. <br />