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14 <br /> 1 Slide #1 <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br /> School Capital Funding Policy <br /> October 8, 2024 <br /> BOCC Worksession <br /> 2 <br /> 3 <br /> 4 Slide #2 <br /> INTENT OF DISCUSSION <br /> • Board to ask questions on and provide any feedback to <br /> proposed new School Capital Funding policy. <br /> • Policy is specific to financial requirements and can be <br /> used in conjunction to other policies around <br /> construction standards and project management. <br /> • Policy is contingent on Referendum passing.Would <br /> seek new direction from Board if bond fails. <br /> • Staff will incorporate any feedback from Board and <br /> seek input from School staff. Present final policy for <br /> board to approve prior to FY 25-35 Recommended CIP. <br /> _1- <br /> ORANGE COUNTY <br /> 5 NORTH CA ROLTNA <br /> 6 <br /> 7 Slide #3 <br /> CAPITAL SPENDING CATEGORIES <br /> • Based on June 4t'Adopted Funding <br /> Framework. <br /> • Major Projects—6 Major Projects identified by <br /> districts that improve educational adequacy. <br /> • High Priority Needs—Regular replacement <br /> projects, prioritized by Woolpert Definitions. <br /> — Critical, Essential, Necessary or lifecycle <br /> replacements <br /> • Other Capital Uses—All other capital <br /> spending identified by district, more flexible. <br /> ORANGE COUNTY <br /> NORTH C,%ROUNA <br /> 8 <br /> 9 Chair Bedford asked how cleaning contracts were funded. <br />