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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: April 4, 2023 <br /> Action Agenda <br /> Item No. 6-a <br /> SUBJECT: Presentation of Manager's Recommended FY 2023-33 Capital Investment Plan <br /> (CIP) <br /> DEPARTMENT: County Manager's Office <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Attachment 1. County Manager's CIP Bonnie Hammersley, County Manager, <br /> Transmittal Letter (919) 245-2300 <br /> Travis Myren, Deputy County Manager, <br /> UNDER SEPARATE COVER (919) 245-2308 <br /> Attachment 2. FY 2023-33 Capital Kirk Vaughn, Budget Director, (919) <br /> Investment Plan 245-2153 <br /> Presentation <br /> Attachment 3. Manager Recommended <br /> FY 2023-33 Capital <br /> Investment Plan <br /> Attachments 2 & 3 To Be Provided Prior <br /> to or in Conjunction with the Meeting; <br /> Will also be Available Electronically at: <br /> https://www.orangecountync.gov/budget <br /> PURPOSE: To receive the Manager's Recommended FY 2023-33 Capital Investment Plan. <br /> BACKGROUND: Each year, the County produces a Capital Investment Plan (CIP) that <br /> establishes a budget planning guide related to capital needs for the County and Schools. The <br /> 10-Year CIP is evaluated annually to include year-to-year changes in priorities, needs, and <br /> available resources. Approval of the CIP commits the County to the first year funding only of the <br /> capital projects; all other years are used as a planning tool and serves as a financial plan. <br /> Capital Investment Plan — Overview <br /> The FY 2023-33 CIP includes County Projects, School Projects, and Proprietary Projects. The <br /> School Projects include Chapel Hill-Carrboro City Schools, Orange County Schools, and <br /> Durham Technical Community College — Orange County Campus projects. The Proprietary <br /> Projects include Water and Sewer, Solid Waste Enterprise Fund, and Sportsplex projects. <br /> The CIP has been prepared anticipating moderate economic growth of approximately 2% in <br /> property tax growth and 4% in sales tax growth annually over the next ten years. The CIP will <br /> rely substantially on debt financing to fund the projects and these required debt amounts are <br /> fully integrated in the County's Long-Term Debt Model. <br />