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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: June 8, 2023 <br /> Action Agenda <br /> Item No. 2 <br /> SUBJECT: Discussion and Decisions on FY 2023-33 Capital Investment Plan <br /> DEPARTMENT: County Manager <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> A. FY2023-33 Capital Investment Plan Bonnie Hammersley, (919) 245-2300 <br /> Budget Amendment List Travis Myren, (919) 245-2308 <br /> Also available electronically at: Kirk Vaughn, (919) 245-2153 <br /> https://www.orangecountync.go v/budget/ <br /> amendments <br /> PURPOSE: To discuss the FY 2023-33 Capital Investment Plan, accept the Ten Year Capital <br /> Investment Plan, and approve the Intent to Adopt Capital Funding for FY 2023-24. <br /> BACKGROUND: For over 20 years, the County has produced a Capital Investment Plan (CIP) <br /> that establishes a budget planning guide related to capital needs for the County as well as <br /> Schools. The current CIP consists of a 10-year plan that is evaluated annually to include year-to- <br /> year changes in priorities, needs, and available resources. Approval of the CIP commits the <br /> County to the first year funding only of the capital projects. All other years are used as a planning <br /> 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 Durham <br /> Technical Community College — Orange County Campus projects. The Proprietary Projects <br /> 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% sales tax growth over the next ten years. Many of the projects in the <br /> CIP will rely on debt financing to fund the projects. <br /> The items below include revisions made to the following Capital Projects since the presentation <br /> of the Manager's Recommended Capital Investment Plan on April 4, 2023: <br /> • As a part of the annual budget process, adjustments are made to the allocation of school <br /> funding based on changes to the FY 2023-24 budgeted average daily membership (ADM) <br /> percentages. At the time of the Capital Improvement Plan presentation, only FY 2022-23 <br /> ADM information was available. The impact of these numbers changed the CHCCS <br /> percentage from 58.78% to 58.44%, and changed the OCS percentage from 41.22% to <br />