Agenda - 06-04-2024; 8-a - Minutes

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Attachment 1 1 1 DRAFT MINUTES 2 ORANGE COUNTY 3 BOARD OF COMMISSIONERS 4 BUDGET WORK SESSION-CIP 5 April 9, 2024 6 7:00 p.m. 7 8 The Orange County Board of Commissioners met for a CIP Budget Work Session on Tuesday, 9 April 9, 2024, at 7:00 p.m. at the Southern Human Services Center in Chapel Hill, NC. 10 11 COUNTY COMMISSIONERS PRESENT: Chair Jamezetta Bedford and Commissioners Amy 12 Fowler, Jean Hamilton, Earl McKee, Phyllis Portie-Ascott, and Anna Richards 13 COUNTY COMMISSIONERS ABSENT: Vice-Chair Greene 14 COUNTY ATTORNEYS PRESENT: None 15 COUNTY STAFF PRESENT: County Manager Bonnie Hammersley, Deputy County Manager 16 Travis Myren, and Clerk to the Board Laura Jensen. (All other staff members will be identified 17 appropriately below) 18 19 Chair Bedford called the Board of County Commissioners meeting to order at 7:01 p.m. 20 All Commissioners were present, except Vice-Chair Greene. 21 22 1. Discussion of Manager's Recommended FY 2024-34 Capital Investment Plan (CIP) 23 24 BACKGROUND: Each year, the County produces a Capital Investment Plan (CIP) that 25 establishes a budget planning guide related to capital needs for the County and Schools. The 10- 26 Year CIP is evaluated annually to include year-to-year changes in priorities, needs, and available 27 resources. Approval of the CIP commits the County to the first-year funding only of the capital 28 projects; all other years are used as a planning tool and serves as a financial plan. 29 30 Capital Investment Plan — Overview 31 The FY 2024-34 CIP includes County Projects, School Projects, and Proprietary Projects. The 32 School Projects include Chapel Hill-Carrboro City Schools, Orange County Schools, and Durham 33 Technical Community College — Orange County Campus projects. The Proprietary Projects 34 include Water and Sewer, Solid Waste Enterprise Fund, and Sportsplex projects. 35 36 The CIP has been prepared anticipating moderate economic growth of approximately 2% in 37 property tax growth and 4% in sales tax growth annually over the next ten years. The CIP will 38 rely substantially on debt financing to fund the projects and these required debt amounts are fully 39 integrated in the County's Long-Term Debt Model (page 40 provides a bar chart of the ten-year 40 funding plan). 41 42 The meeting discussion will focus on County and Proprietary CIP projects. Note: Page numbers 43 are referenced below as they appear in the CIP document. See Attachment A for the Overall CIP 44 Summary (page 36), County CIP Projects Summary (page 48), and the Proprietary CIP 45 Summaries (page 123). Discussion of the Schools CIP projects is scheduled for the May 16, 46 2024 Budget Work Session. 47 48 Discussion at this meeting will also be directed to the Debt Service and Debt Capacity— General 49 Fund (page 171), the Water and Sewer Debt Service requirements paid with Article 46 Quarter 50 Cent Sales Tax proceeds (page 172), and Debt Service requirements for Solid Waste (page 173) 51 and Sportsplex (page 174).