Orange County NC Website
<br />Retuning capital for each School System will be based on the equivalent of three cents on the <br />General Fund Property Tax Rate (not adjusted for the 1997 revaluation of real property but adjusted <br />each revaluation thereafter.) Funds will be allocated to each school system based on the State <br />Department of Public hrsh°uction planning allocation which is the same method used to allocate <br />current expense appropriation. <br />H Plamring Period <br />During each fiscal year, the Boazd of Conunissioners shall adopt a ten year Capital hnprovements <br />Plan. The ten year plan shall include anticipated County capital expendihu-es costing $30,000 or <br />more (excluding equipment) and anticipated school capital expendihu-es costing $50,000 oi° more <br />(excluding equipment). Equipment costing $1,000 or more can be considered as pant ofthe Capital <br />Lnprovements Plan. The first year of the adopted Ten Year Capital Imps°ovements Plan shall be <br />incorporated into the next annual operating budget recommended by the County Manager. <br />