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Orange County Schools ($95,000):
<br />Classroom/Building Improvements ($60,000) – Project # 51025 (Funds will be used to
<br />correct an OSHA compliance issue at C.W. Stanford Middle School).
<br />Revenues for this project:
<br />Current FY
<br />2018-19
<br />FY 2018-19
<br />Amendment
<br />FY 2018-19
<br />Revised
<br />Alternative Financing $743,600 $0 $743,600
<br />2/3 Net Debt Bonds $289,500 $0 $289,500
<br />QSC Bonds $2,946,819 $0 $2,946,819
<br />From General Fund (Addt’l PAYG) $849,496 $60,000 $909,496
<br />Total Project Funding $4,829,415 $60,000 $4,889,415
<br />
<br />Appropriated for this project:
<br />Current FY
<br />2018-19
<br />FY 2018-19
<br />Amendment
<br />FY 2018-19
<br />Revised
<br />Construction $4,829,415 $60,000 $4,889,415
<br />Total Costs $4,829,415 $60,000 $4,889,415
<br />HVAC Upgrade/Improvements ($35,000) – Project # 51013 (Funds will be used to replace air
<br />handlers at New Hope Elementary)
<br />Revenues for this project:
<br />Current FY
<br />2018-19
<br />FY 2018-19
<br />Amendment
<br />FY 2018-19
<br />Revised
<br />From General Fund (PAYG) $856,740 $35,000 $891,740
<br />2/3 Net Debt Bonds $722,621 $0 $722,621
<br />Total Project Funding $1,579,361 $35,000 $1,614,361
<br />
<br />Appropriated for this project:
<br />Current FY
<br />2018-19
<br />FY 2018-19
<br />Amendment
<br />FY 2018-19
<br />Revised
<br />HVAC Upgrade/Improvements $1,579,361 $35,000 $1,614,361
<br />Total Costs $1,579,361 $35,000 $1,614,361
<br />Note: The Current FY 2018-19 Budgets represent the cumulative budgeted funds for these projects in
<br />the Orange County Schools district since 2009, which is the last time completed projects funds were
<br />closed out. Staff plans to bring recommendations to the Board of County Commissioners in a future
<br />BOCC meeting for closing out completed school and county capital projects.
<br />FINANCIAL IMPACT:The total Lottery Proceeds requested from the NCDPI for Orange
<br />County Schools is $95,000.
<br />SOCIAL JUSTICE IMPACT:There is no Orange County Social Justice Goal associated with
<br />this item.
<br />RECOMMENDATION(S):The Manager recommends that the Board approve, and authorize the
<br />Chair to sign, the application for North Carolina Education Lottery Proceeds; and approve
<br />Budget Amendment #11-A receiving the Lottery Proceeds and the amended OCS Capital
<br />Project Ordinances, contingent on NCDPI’s approval of the application.
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