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39 <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 /> representing 58.2% of the total Phase I projects while Orange County Schools would implement <br /> projects representing 41.8% of the recommended amount. <br /> Travis Myren, Deputy County Manager, made the following presentation: <br /> Slide #1 <br /> Agenda Item 7-b <br /> f <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br /> School and County Capital Planning and <br /> Financing Scenarios <br /> Board of Commissioners Business Meeting <br /> January 16, 2024 <br />