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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: June 23, 2004 <br />Action Agen <br />Item No. <br />SUBJECT: Application for State Public School Building Capital Funds <br />DEPARTMENT: Budget PUBLIC HEARING: (Y/N) No <br />ATTACHMENT (S): <br />Attachment 1. Application for Public <br />School Building Capital <br />Funds <br />INFORMATION CONTACT: <br />Donna Dean 245-2151 <br />TELEPHONE NUMBERS: <br />Hillsborough <br />Chapel Hill <br />Durham <br />Mebane <br />732-8181 <br />968-4501 <br />688-7331 <br />336-227-2031 <br />PURPOSE: To approve an application to the North Carolina Department of Public Instruction to <br />release funds from Orange County's Public School Building Fund account, <br />BACKGROUND: In 1987, the General Assembly established the Public School Building Capital <br />Fund (PSBCF) to assist county governments in meeting their public school needs. The State <br />uses a portion of its corporate income tax receipts (including interest earned) to fund the <br />PSBCF). Monies from the funds are allocated to counties on a per average daily membership <br />(ADM) basis according to the Department of Public Instruction's certified ADM for the current <br />fiscal year, Counties can use these funds to offset costs in three major areas: <br />New school construction projects (including the purchase of land) and <br />repairing/renovating older facilities; <br />Implementation of local school technology projects; <br />• Repayment of debt service. <br />Since the creation of this fund, Orange County has used its allocations to cover a portion of the <br />renovation casts at Ephesus Elementary, Chapel Hill High, Stanford Middle, and Hillsborough <br />Elementary. In addition, these funds have offset a portion of the construction costs at East <br />Chapel Hill High School, McDougle Elementary, Scroggs Elementary and New Hope <br />Elementary. More recently, the County has used these funds to pay a portion of the debt <br />service associated with various school projects that are debt financed. <br />It is important to note that staff has not requested the BOCG approve an application for PSBCF <br />since June 18, 2002.. This is because the State withheld contributions to this fund during fiscal <br />year 2002-03 from all but a handful of Counties in order to offset its fiscal crisis that year, The <br />