HomeMy WebLinkAboutAgenda - 01-20-2011 - 7dORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: January 20, 2011
Action Agenda
Item No. ~~
SUBJECT: Closing of County Capital Projects
DEPARTMENT: Financial Services PUBLIC HEARING: (Y/N) No
ATTACHMENT(S):
Attachment 1: FY 2010-11 Closed
County Capital Projects
INFORMATION CONTACT:
Clarence Grier, (919) 245-2453
Michael Talbert, (919) 245-2153
PURPOSE: To close seven completed County Capital Projects and close prior years' activities
in six active County Capital Projects.
BACKGROUND: The Comprehensive Annual Financial Report for June 30, 2010 has 86
capital projects with activity in the County Capital Projects Fund. Over the past eight years, few
if any capital projects were closed even though many have been completed for several years.
On October 26, 2010, the Board was presented the second draft of a revised Five Year Capital
Investment Plan. The format was discussed and changes were requested to improve that
format and provide the Board with information that is necessary to make Capital Funding
decisions. One component of the Capital Investment Plan is to review active Capital Projects
and close projects as completed.
As of June 30, 2010, there are seven completed County Capital Projects that can be closed.
Attached is a detail schedule of completed projects with the total project budgets of $9,688,609
to be closed, if approved by the Board. Revenues exceed expenditures by $6,300 and these
funds will be closed to County Capital Projects Fund Balance.
The County also funds County Capital Projects that have a scope of ten or more years and
have had significant activity over the past ten years. The funding sources for these projects
involve multiple funding sources, including Bond Issues and Pay-as-you-go funding. These
projects will be part of future Capital Investment Plans .and the projects will remain active.
Closing prior years' activities will improve accountability, transparency and understanding of
available balances. Attached is a schedule of six projects with the total project budgets of
$16,490,118 to be closed, if approved by the Board.
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FINANCIAL IMPACT: The closing of seven completed County Capital Projects and closing of
prior years' activities in six active County Capital Projects will not have a financial impact on the
County.
RECOMMENDATION(S): The Manager recommends the Board approve the closing of seven
completed County Capital Projects and close prior years' activities in six active County Capital
Projects.
FY 2010-11 Closed County Capital Projects
Balances as of 6/30/2010
Project Start
Date
Budget Closed
Budget Revenues
6/30/2010 Expenditures
6/30/2010 Remaining
Budget Completion
Date
10006 Emergency Management Center 7/1/2004 325,500 325,500 142,215 142,215 6/30/2010
10011 Homestead Community Center 7/1/2002 185,468 185,468 188,834 188,634 6/30/2009
10024. Seymour Center 7/1/2003 6,265,271 6,265,271 6,265,270 6,260,270 6/30/2010
10039 Solid Waste Operation Center 6/26/2007 2,482,370 2,482,370 2,482,370 2,481,913 6/30/2009
20033 Lake Michael Park 7/1/2006 75,000 75,000 75,000 75,000 6/30/2010
20035 Recreation & Parks Capital Maint 7/1/2006 25,000 25,000 25,000 24,360 6/30/2010
30000 Utility Extension Development 7/1/1993 330,000 330,000 262,878 262,875 6/30/2010
Closed Projects 9,688,609 9,688,609 9,441,567 9,435,267
20006 Conservation Easements 7/1/2000 5,878,181 4,952,605 4,952,605 4,952,605 925,576 Continuing
20011 Lands Legacy 7/1/2000 6,010,451 4,154,190 4,154,190 4,154,190 1,856,261 Continuing
30003 Affordable Housing 7/1/1999 6,115,000 3,646,196 3,646,196 3,646,196 2,468,804 Continuing
30007 Technology 7/1/1991 5,826,000 2,871,613 2,871,613 2,871,613 2,954,387 Continuing
30009.. Register of Deeds 7/1/2003 990,964 715,514 715,514 715,514 275,450 Continuing
30016 Loan Pool Reserve 7/1/1998 350,000 150,000 150,000 150,000 200,000 Continuing
C/osedPriorYearsActivities 25,170,596 16,490,118 16,490,118 16,490,118 8,680,478
Total Closed 2010-2011 26,178,727 25,931,685 25,925,385
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