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7 <br /> 2016-17 Unassigned Fund Balance $7,180,587 <br /> Reduction for Capital Projects $3,500,000 <br /> Balance of Unassigned Fund Balance (5.03%) $3,680,587 <br /> CIP Additional 5 year funding $2,400,000 <br /> Recurring Capital Fund Balance: <br /> 2016-17 Unassigned Fund Balance $976,000 <br /> 2017-18 Unobligated Balance of Non-recurring $1.2M $700,000 <br /> Fund 6 Cash Balances (unobligated): $400,000 <br /> GRAND TOTAL FOR CAPITAL PROJECTS $7,976,000 <br /> Financial Summary Both Projects <br /> Lincoln Center Campus $38,513,900 <br /> Chapel Hill High School —est. $63,624,000 <br /> Total $102,137,900 <br /> Bond Funding $72,100,000 <br /> Shortfall $30,037,900 <br /> Less: <br /> Value Engineering Lincoln Center $1,200,000 <br /> TOCH (2 projects) $1,643,000 <br /> District Funding $7,976,000 <br /> Remaining Shortfall $19,218,900 <br /> Compromises and Trade Offs <br /> • Moving forward with LC without additional funding jeopardizes the integrity of the CHHS <br /> project <br /> • Not moving forward with LC results in rebidding, possible increased costs, and delays <br /> capacity increases <br /> Value Engineering and Communication between Staff <br /> • Identified $1.2 million in potential LC reductions <br /> • Complete the CHHS design focusing to reduce costs <br /> • Exploring other strategies with the County Director of Asset Management Services <br /> Immediate Needs and Next Steps <br /> • Lincoln Center Project Bid Expires 12/26/2017 <br /> • How to best navigate our 2 projects and the current reality? <br /> • Continue discussions for options and cost reductions with the Director of Asset <br /> Management Services <br /> • Encourage State School Bond <br /> Future Discussion <br /> • What is feasible with the remaining 7 projects? <br /> o Will there be additional $? <br /> o Target date for additional funding? <br /> o Focus only on broken infrastructure? <br /> o Build new schools? Requires $ But where? <br />