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34 <br /> Carryover Policy <br /> Capital <br /> • Orange County Tax District will work towards development and maintaining a capital <br /> reserve fund <br /> • Capital project allocations as defined by the transit plan will be reserved and can be <br /> drawn on throughout the life of the project as per annual work plan programming <br /> • Capital reserve fund dollars appropriated within the annual programming are <br /> available for reimbursement requests for the duration of each project unless <br /> subsequently amended by Board action or until project closeout. <br /> o Upon project closeout, any leftover funds (surplus) will be released and made <br /> available for future capital projects upon recommendation from the Orange <br /> County Staff Working Group. <br /> Operating <br /> • Dollars appropriated in the operating fund will lapse at the end of the year as of <br /> June 30 <br /> • Any unutilized operating funds will be returned to the operating fund balance for <br /> future programming <br /> 11 <br />