Orange County NC Website
Browse       Search
12 <br /> result in severe property damage and/or possible loss of life downstream. In 2018, NCDEQ and <br /> a private engineering firm conducted inspections of the dam that identified deficiencies in this <br /> 52-year old structure. <br /> Additional inspections conducted in the Fall of 2020 revealed additional structural deficiencies in <br /> the intake tower and along the concrete spillway. As a result, individual projects have been <br /> reprioritized and sequenced so that the FY2021-22 CIP recommends financing the repair of the <br /> erosion control barrier, FY2022-23 addresses the intake tower and gates, and FY2023-24 includes <br /> spillway repairs. <br /> Vehicle Replacements -$1.3 million <br /> The Capital Investment Plan is also used to procure replacement vehicles used by County <br /> Departments. In public safety, funding of $630,341 is recommended in FY 2021-22 to replace <br /> Sheriff's Office vehicles, remount an Animal Control vehicle, and purchase one (1) ambulance <br /> and one (1) administrative vehicle in Emergency Services. In Transportation Services, $560,000 is <br /> allocated to replace nine (9) buses. State and Federal resources pay for eighty percent (80%) of <br /> the cost of vehicles in Transportation Services, so the total County cost of these replacements is <br /> $112,000. Finally, four vehicles used by Asset Management Services and the Department of <br /> Agriculture, Parks and Recreation are in need of replacement. The newest vehicle of this group <br /> is over seventeen years old with an average of 115,670 miles. <br /> Financing the Capital Investment Plan <br /> The Recommended Capital Investment Plan for FY2021-22 totals $54 million in expenditures. Of <br /> that amount, $44.1 million is recommended to be financed by County funded debt. Other <br /> significant sources of funds include additional pay-as-you-go (from Lottery Proceeds) and Article <br /> 46 sales tax proceeds. Both of these sources are dedicated to fund school capital needs and are <br /> estimated to contribute approximately$3.6 million to the resources used to support the CIP. <br /> Debt Capacity Target <br /> County policy establishes a debt service capacity target of fifteen percent (15%) of general fund <br /> revenues. Based on prior borrowing approved by the Board, this policy has and is expected to <br /> be exceeded in future years. As the Board considers the CIP, staff will provide updates and <br /> recommend necessary adjustments so that the Board is comfortable with the current and <br /> planned debt over the course of the FY2021-26 CIP. <br /> Planning for Future Significant Capital Projects <br /> As the CIP evolves in the future, two significant capital expenditures may be considered. The first <br /> is a replacement of the emergency responder radio system. The total cost of this project was <br /> originally expected to exceed $40 million. However,through additional research and discussions <br /> with State partners, this project may cost less than originally anticipated. Until a new, reliable <br /> cost estimate is created, this project is programmed in years six through ten of this CIP. <br /> Page 1 10 <br />