Agenda - 04-26-2005- - Laserfiche WebLink

Browse Search

Capital Funding Options -Staff Considerations Prepared /or the Apri120, 2005 Board of Counly Commissioners Wodc Session 7. If the Board of Commissioners makes decisions that increase or decrease the amount of total capital funding expected to be available during the ten-year period (e.g. future bond referenda), is the 60/40 target to be recalculated to reflect the new total? Staff has not included a recommendation for this consideration; that maybe an area that the Board wishes to consider as it approves future Capital Investment Plans. 8. If such a recalculation is to be made, when should that take effect (e.g. with the development of the next ten-year CIP update or immediately)? Staff has not included a recommendation for this consideration; that maybe an area that the Board wishes to consider as it approves future Capital Investment Plans. 9. Should the provision in the current capital funding policy, requiring the Orange County Schools to fund from its pay-as-you-go capital funding allocation that portion of debt service payments for Cedar Ridge High School that exceed the $12.5 million in voter-approved bond funding for the project, be removed from a revised capital funding policy? Of the capital funding options presented to the Board to-date, • Options 1 and 3 provide scenarios where Orange County Schools' portion of Cedar Ridge High School debt service remains with the school district. • Options 2 and 4 offer alternatives where Orange County Schools' portion of Cedar Ridge High School debt service is removed from the school district and combined with all of the County's school related debt service. At the April 14, 2005 work session, Commissioner Jacobs requested staff to provide additional options that provided for one-half of the Orange County Schools portion of Cedar Ridge High School debt service to remain with the school district and combine the remaining one-half with all of the County's school related debt service. As outlined below, Options 5A throtfgh 5C offer three funding alternatives that allow for Commissioner Jacobs' request. • Option 5A -One-half of Cedar Ridge High School debt remains with Orange County Schools while the other half is combined with all of the County's school related debt service; all peak debt service remains with Orange County Schools. • Option 58 -One half of Cedar Ridge High School debt remains with Orange County Schools while the other half is combined with all of the County's school related debt service; one-half of peak debt service remains with Orange Gounty Schools. Option 5C -One half of Cedar Ridge High School debt remains with Orange County Schools while the other half is combined with all of the County's school related debt service,° peak debt service is removed from Orange County Schools portion of the funding equation.