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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: .June 23, 2005 <br />Action Age a <br />Item No. „~ <br />SUBJECT: Revised Orange County Capital Funding Policy <br />DEPARTMENT: Manager/Budget/Finance PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): <br />Proposed Capital Funding Policy <br />(under separate cover) <br />INFORMATION CONTACT: <br />.John Link or Rod Visser, ext 2300 <br />Donna Dean, ext 2151 <br />Ken Chavious, ext 2453 <br />TELEPHONE NUMBERS: <br />Hillsborough 732-8181 <br />Chapel Hill 968-4501 <br />Durham 688-7331 <br />Mebane 336-227-2031 <br />PURPOSE: To consider formal adoption of a written capital funding policy that codifies the <br />Board of Commissioners' decisions made on May 5, 2005 regarding the implementation of the <br />60-40 schoollcounty capital funding policy. <br />BACKGROUND: At the Board's May 5, 2005 work session, the Board chose Option 2 from <br />among the approaches previously presented by staff to "operationalize" the BOCC's November <br />2004 policy that earmarks 60 percent of capital funding far school projects and 40 percent of <br />capital funding for County projects for the next ten years. The accompanying written policy, if <br />formally adopted by the Board, would supersede the County's previous capital funding policy, <br />as originally adopted in December 1996. <br />The Board may also consider receiving this draft for information at this time, as there is no <br />compelling reason that it must be adopted now, The Board has already made its capital <br />funding decisions as part of the 2005-05 budget deliberations, and those will be implemented <br />irrespective of the Board's adoption of the revised capital funding policy either at this meeting or <br />in the future, If the Board decides to postpone formal adoption of the revised policy, that can be <br />brought back for BOCC consideration late this summer when staff returns with revised school <br />and County CIPs for 2005-15 and the balance of 2005-06 school and County capital project <br />ordinances (those not being acted upon by the BOCC at this June 23 meeting), <br />FINANCIAL IMPACT: The written policy will guide staff preparation of annual updates to pay- <br />as-you-go capital funding allocations between the County and the two school systems that are <br />the basis for annual revisions to the ten-year school and County Capital Investment Plan (CIP), <br />RECOMMENDATION(S): The Manager recommends that the Board approve the <br />accompanying formal written capital funding policy, either at this or a future BOCC meeting, <br />