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2 <br />FINANCIAL IMPACT: In accordance with the County's current Capital Funding Policy, there <br />are several sources of non-restricted pay-as-you-go funding for county and school debt service <br />repayment and capital projects. These non-restricted pay-as-you-go sources include proceeds <br />from both one-half cent sales taxes and dedicated property taxes. The Board's policy provides <br />that all debt service is paid from the non-restricted pay-as-you-go sources, and the remaining <br />amount be allocated on an equal (50/50) share between the County and schools. In addition to <br />the non-restricted funding sources, the County and schools each have particular revenues that <br />are available for project funding. For the schools, these revenues include impact fees and State <br />Public School Building Funds. For the County, these revenues include the equivalent to 2/3 ofi <br />one cent on the General Fund property tax rate, various grants, Subdivision Payment-in-Lieu <br />funds, and other dedicated revenues. The chart below provides a brief outline of the net <br />projected revenues (restricted revenues less debt service and non-restricted funds) for the <br />upcoming 2001-02 fiscal year. <br /> Other <br /> (Grants, <br />FY 2001-02 (projections made Alternative <br />by Budget Office during fall Pay-As You- Bond Financing, <br />2000) Go Funds Funds Fees) Total <br />Schools 2546 500 750 000 0 3 296 500 <br />Oran a Count Government 2 265 964 0 82 592 2 348 556 <br />Total Funding 4,$12,464 750,000 82,592 5,645,056 <br />RECOMMENDATION (S): The Manager recommends that the Board ofi County Commissioners <br />approve the proposal for an interim Capital Investment Plan (GIP) and ask staff to present a <br />one-year spending plan (during an upcoming budget work session) fior fiscal year 2001-02 that <br />includes County and School pay-as-you-go projects. <br />