Agenda - 04-21-2003-2 - Laserfiche WebLink

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ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: April 21, 2003 Action Agenda Item No. 2 SUBJECT• 2003-2013 Capital Investment Plan (CIP) Presentation & Issues Discussion DEPARTMENT: Budget PUBLIC HEARING: (YIN) No ATTACHMENT(S): 2003-2013 Recommended ClP (distributed under separate cover) INFORMATION CONTACT: Donna Dean, ext 2151 TELEPHONE NUMBERS: Hillsborough 732-8181 Chapel Hill 968-4501 Durham 688-7331 Mebane 336-227-2031 PURPOSE: To receive a presentation of and conduct preliminary review and discussion of the recommended Capital Investment Plan for FY 2003-2013. BACKGROUND: Each year, the County Manager and staff update the County's ten-year Capital Investment Plan (CIP). The CIP is a multi-year plan that addresses County and school needs for long-lived assets. Items typically included in the CIP are construction, refurbishment, or purchases of buildings; land acquisition or improvement; and major equipment and vehicle acquisition and financing. This process offers an opportunity to review long-term capital needs and enables timely acquisition and phased financing of major assets. During the January 2003 annual planning retreat, the BOCC expressed the desire to have this year's update provide a comprehensive view of the ten-year capital planning period. To that end, the recommended CIP includes all .capital needs that have been identified by various departments, regardless of whether there is sufficient anticipated pay-as-you-go revenue or designated debt financing to pay for them. A separate "unfunded project" section identifies those needs. In the interests of comprehensiveness, the CIP also integrates projects that have been or will be funded fully or in part from $75 million bonds approved by voters in November 2001 and $37.7 million to be funded over the next five years through alternative financing mechanisms. The timing of bond sales and alternative financing for those projects was approved by the BOCC on September 3, 2002. It should also be noted that the school portion of the CIP will be presented later in the budget process. With the advent of the Schools Adequate Public Facilities Ordinance (SAPFO) system, school capital planning in this and subsequent years will need to be pushed back several months from the historical pattern. Actual student membership figures as of November 15 each year are used as the basis for annually updated student projections generated and analyzed by County, school, and municipal staffs between December and February each year. Once school building capacities and student projections are certified by representatives of all