Orange County NC Website
Browse       Search
5 <br /> • Scenario C1 <br /> o Funds the County Facility Plan short range and mid-range projects ($130 million) <br /> over ten years <br /> o Adds a $400 million school bond <br /> o When combined with existing and planned resources, yields total school resources <br /> of $548 million which meets the Woolpert Option C target of $541.2 million with an <br /> additional $6.8 million to address other priority needs. <br /> • Scenario C2 <br /> o Funds the County Facility Plan short range and mid-range projects ($130 million) <br /> over ten years <br /> o Adds a $300 million school bond and $100 million in pay-as-you go (cash) <br /> o When combined with existing and planned resources, yields total school resources <br /> of $548 million which meets the Woolpert Option C target of $541.2 million with an <br /> additional $6.8 million to address other priority needs. <br /> • Scenario D <br /> o Funds the County Facility Plan short range and mid-range projects ($130 million) <br /> over ten years <br /> o Adds a $630 million school bond to fund Phases I & II over ten years <br /> o Does not include the third phase since it falls outside of the ten (10) year planning <br /> horizon <br /> o When combined with existing and planned resources, yields total school resources <br /> of $778 million which meets the Woolpert Option D target of $776.9 million for <br /> Phases I & II with an additional $1.1 million to address other priority needs. <br /> • Middle Scenario <br /> o Due to the large difference in funding levels between Scenario A ($130 million for <br /> school projects) and Scenario C ($400 million for school projects), staff are also <br /> presenting a scenario between A and C. <br /> o Spreads the first five years of County Facility Plan ($70 million) over ten years and <br /> adds 3% annual inflation ($5 million) to account for spreading the projects over a <br /> longer timeframe <br /> o Adds a $200 million school bond and $50 million in pay-as-you go (cash) <br /> o Woolpert will engage with the School Districts and the County to prioritize projects <br /> to fit this budget, if chosen. <br /> Bond Funding Practice <br /> Historically, the County has allocated bond funds to the two school districts based on the average <br /> daily membership in place at the time the bond was authorized. In FY 2023-24, that would mean <br /> Chapel Hill-Carrboro City Schools would receive 58.44% of the funding, and Orange County <br /> Schools would receive 41.56% of the total. Unlike in the operating budget where average daily <br /> membership must be used to allocate funding, the County is not obligated to fund capital projects <br /> in the same way. <br /> Since the County now has a prioritized plan for school funding, bond funds could be allocated on <br /> a project basis instead of by average daily membership. Given that average daily membership <br /> helps to drive facility needs, moving to a project-based approach would not have a dramatic <br /> impact on these allocations. Based on the projects contained in Phase 1 of the Woolpert <br /> recommended Option D, Chapel Hill Carrboro City Schools would implement projects <br />