Orange County NC Website
Browse       Search
39 <br /> 1 Bond Funding Practice <br /> 2 Historically, the County has allocated bond funds to the two school districts based on the average <br /> 3 daily membership in place at the time the bond was authorized. In FY 2023-24, that would mean <br /> 4 Chapel Hill-Carrboro City Schools would receive 58.44% of the funding, and Orange County <br /> 5 Schools would receive 41.56% of the total. Unlike in the operating budget where average daily <br /> 6 membership must be used to allocate funding, the County is not obligated to fund capital projects <br /> 7 in the same way. <br /> 8 <br /> 9 Since the County now has a prioritized plan for school funding, bond funds could be allocated on <br /> 10 a project basis instead of by average daily membership. Given that average daily membership <br /> 11 helps to drive facility needs, moving to a project-based approach would not have a dramatic <br /> 12 impact on these allocations. Based on the projects contained in Phase 1 of the Woolpert <br /> 13 recommended Option D, Chapel Hill Carrboro City Schools would implement projects <br /> 14 representing 58.2% of the total Phase I projects while Orange County Schools would implement <br /> 15 projects representing 41.8% of the recommended amount. <br /> 16 <br /> 17 Travis Myren, Deputy County Manager, made the following presentation: <br /> 18 <br /> 19 Slide #1 <br /> Agenda Item T•b <br /> GRANGE COUNTY <br /> NORZrH CAROLINA <br /> School and County Capital Planning and <br /> Financing Scenarios <br /> Board of Commissioners Business Meeting <br /> January 16, 2024 <br /> 20 <br /> 21 <br />