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15 <br /> 1 The Board accepted the FY2021-26 Capital Investment Plan and approved the Intent to <br /> 2 Adopt Capital Funding for FY2021-22. <br /> 3 <br /> 4 BACKGROUND: <br /> 5 For over 20 years, the County has produced a Capital Investment Plan (CIP) that establishes a <br /> 6 budget planning guide related to capital needs for the County as well as Schools. The current <br /> 7 CIP consists of a 5-year plan that is evaluated annually to include year-to-year changes in <br /> 8 priorities, needs, and available resources. Approval of the CIP commits the County to the first <br /> 9 year funding only of the capital projects; all other years are used as a planning tool and serves <br /> 10 as a financial plan. <br /> 11 <br /> 12 Capital Investment Plan —Overview <br /> 13 The FY 2021-26 CIP includes County Projects, School Projects, and Proprietary Projects. The <br /> 14 School Projects include Chapel Hill-Carrboro City Schools (CHCCS), Orange County Schools <br /> 15 (OCS), and Durham Technical Community College— Orange County Campus projects. The <br /> 16 Proprietary Projects include Water and Sewer, Solid Waste Enterprise Fund, and Sportsplex <br /> 17 projects. <br /> 18 <br /> 19 The CIP has been prepared anticipating moderate economic growth of approximately 2% in <br /> 20 property tax growth and 4% sales tax growth over the next five years. Many of the projects in <br /> 21 the CIP will rely on debt financing to fund the projects. <br /> 22 <br /> 23 The items below include revisions made to the following Capital Projects since the presentation <br /> 24 of the Manager's Recommended Capital Investment Plan on April 6, 2021: <br /> 25 <br /> 26 At the May 13, 2021 Budget Work Session, staff included a revised Schools Capital Projects <br /> 27 Summary reflecting adjustments made in regards to changes to the FY 2021-22 budgeted <br /> 28 average daily membership (ADM) percentages, based on changes made from the time of the <br /> 29 original CIP presentation and the FY 2021-22 Manager's Recommended Operating Budget <br /> 30 presentation. The impact of these numbers changed the CHCCS percentage from 59.99% to <br /> 31 60.36%, and changed the OCS percentage from 40.01% to 39.64%. <br /> 32 <br /> 33 <br />