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7 <br /> 1 2016-17 Unassigned Fund Balance $976,000 <br /> 2 2017-18 Unobligated Balance of Non-recurring $1.2M $700,000 <br /> 3 <br /> 4 Fund 6 Cash Balances (unobligated): $400,000 <br /> 5 GRAND TOTAL FOR CAPITAL PROJECTS $7,976,000 <br /> 6 <br /> 7 Financial Summary Both Projects <br /> 8 Lincoln Center Campus $38,513,900 <br /> 9 Chapel Hill High School — est. $63,624,000 <br /> 10 Total $102,137,900 <br /> 11 Bond Funding $72,100,000 <br /> 12 Shortfall $30,037,900 <br /> 13 <br /> 14 Less: <br /> 15 Value Engineering Lincoln Center $1,200,000 <br /> 16 TOCH (2 projects) $1,643,000 <br /> 17 District Funding $7,976,000 <br /> 18 Remaining Shortfall $19,218,900 <br /> 19 <br /> 20 Compromises and Trade Offs <br /> 21 • Moving forward with LC without additional funding jeopardizes the integrity of the CHHS <br /> 22 project <br /> 23 • Not moving forward with LC results in rebidding, possible increased costs, and delays <br /> 24 capacity increases <br /> 25 <br /> 26 Value Engineering and Communication between Staff <br /> 27 • Identified $1.2 million in potential LC reductions <br /> 28 • Complete the CHHS design focusing to reduce costs <br /> 29 • Exploring other strategies with the County Director of Asset Management Services <br /> 30 <br /> 31 Immediate Needs and Next Steps <br /> 32 • Lincoln Center Project Bid Expires 12/26/2017 <br /> 33 • How to best navigate our 2 projects and the current reality? <br /> 34 • Continue discussions for options and cost reductions with the Director of Asset <br /> 35 Management Services <br /> 36 • Encourage State School Bond <br /> 37 <br /> 38 Future Discussion <br /> 39 • What is feasible with the remaining 7 projects? <br /> 40 0 Will there be additional $? <br /> 41 0 Target date for additional funding? <br /> 42 0 Focus only on broken infrastructure? <br /> 43 0 Build new schools? Requires $ But where? <br /> 44 • Implement a plan to "escape" the perfect storm <br /> 45 0 Older facilities in disrepair <br /> 46 0 Newer facilities that have become older <br /> 47 0 Continued enrollment growth <br /> 48 0 Few school sites remaining <br /> 49 <br /> 50 <br />