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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: October 21, 2008 <br />Action Agen a <br />Item No. ~-~ <br />_ SUBJECT: Presentation of Recommended 2009-19 County Capital Investment Plan (CIP) <br />DEPARTMENT: County Manager PUBLIC HEARING: (YIN) No <br />Budget Office <br />ATTACHMENT(S): <br />2009-19 County CIP Document to be <br />Delivered to the Board during the <br />October 21, 2008 meeting; Document <br />will be Available on the County's <br />Website (www.co.orange.nc.us) <br />Beginning October 22, 2008 <br />INFORMATION CONTACT: <br />Laura Blackmon, (919) 245-2300 <br />Donna Coffey, (919) 245-2151 <br />PURPOSE: To receive the recommended 2009-19 County Capital Investment Plan (CIP). <br />(Note: Presentation of the Chapel Hill Carrboro City and Orange County Schools' 2009- <br />19 CIP is planned for the Board's November 13, 2008 work session.) <br />BACKGROUND: Each year, Orange County invests considerable financial resources in <br />acquiring, constructing, maintaining, operating and paying debt for School, County and Town <br />capital facilities that meet a variety of past, current and future community needs. Given the <br />significant investment Commissioners devote to these expenses, it is critical to have solid <br />planning tools in place to provide a foundation for making sound informed decisions for the <br />future. <br />The CIP as A Planning Tool <br />The CIP identifies funded and unfunded County and School projects necessary to continue <br />delivery of services to our community. It is a financial plan that adheres to the County Capital <br />Funding and Debt Management Policies. <br />Comprehensive Financial Plan -Project costs include initial capital outlays to develop <br />the project itself in addition to annual costs to staff and operate the facility and repay <br />associated debt. These costs can be substantial and careful planning and consideration <br />must be given to balancing when projects actually come on-line with tax rate impacts. In <br />years where there are a number of projects coming on-line at one time, these costs can <br />be substantial. <br />"Living Plans" -Long-range financial plans, including the CIP, are "living plans". This <br />means each year staff and the Board reassess previously identified needs to determine if <br />future needs remain the same as those outlined in past-approved plans. If needs and <br />priorities have changed appropriate revisions to previously adopted/approved plans can <br />be made. <br />