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z <br />as quickly as possible to reduce the likelihood that these funds might be sequestered, The <br />Governor's budget for the upcoming year does include a proposal to withhold these funds again <br />in 2005-06, <br />The attached application requests that the State release all available funds for Orange County <br />to offset debt service related to Stanback Middle School. The Orange County Board of <br />Education must also approve this application, which is docketed for action at the Board of <br />Education's June 6, 2005 meeting, <br />These funds do not represent additional, unanticipated funds far the Capital Investment Plan. <br />They have already been programmed as a revenue source into the allocations of pay-as-you-go <br />funds to the two school systems under the County's present ten-year capital plan, <br />FINANCIAL IMPACT: Consistent with the County's current Capital Funding Policy, these <br />PSBCF monies are one source of funding far the ten-year Capital Investment Plan (CIP). The <br />funds have been included in the CIP revenue estimates and there is no additional financial <br />impact anticipated. <br />RECOMMENDATION(S): The Manager recommends that the Board of County Commissioners <br />approve, and authorize the Chair to sign, the application for Public School Building Capital <br />Funds for the Orange County Schools' share of the remaining 2004-05 debt service payment <br />related to construction of Stanback Middle School, <br />