Orange County NC Website
Browse       Search
3 <br /> • Staff is monitoring opportunities with the County's financial advisors for any future debt <br /> service savings. <br /> 2. Review extending the General Obligation School Debt Issuance Period from 7 to 10 Years with <br /> Local Government Commission Approval <br /> • Current bond application based on issuing all General Obligation debt over seven-year <br /> issuance period, but this can be extended to ten-year issuance period with LGC Approval <br /> 3. Use of Pay-Go Financing for Capital Projects <br /> • Capital Improvement Plan Increases Pay-As-You-Go which is best practice to further <br /> diversify sources of income funding. <br /> • Increases General Fund revenues which improves this metric and avoids new interest <br /> obligations. <br /> 4.Economic Development Tool <br /> • Strategic economic development investments (Morinaga, Wegman's and ABB) have <br /> increased the tax base via seed funding from Article 46 thus increasing the commercial tax <br /> base. <br /> 5. Continue Use of Eligible Projects through non-General Fund or Grants <br /> • Staff continues to identify capital expenses (e.g., water/sewer, transit) which may qualify <br /> for grant programs. <br /> 6. Enhance Fund Balance and Reserves <br /> • Continue to apply fund balances above 16% policy to enhance internal capacity to self- <br /> finance capital. <br /> • Demonstrates financial strength and improves debt capacity without issuance. <br /> 7. Continue Practice of Communication with Stakeholders and Rating Agencies <br /> • Clearly explain mitigation efforts and long-term fiscal planning. <br /> • Provide updated debt affordability analyses and 10-year forecasts. <br />