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Home My WebLink AboutAgenda - 05-15-2012 - 5io(~D -a~~a- c~~q ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: May 15, 2012 Action Agenda Item No. 5_ i SUBJECT: Applications for North Carolina Education Lottery Proceeds for Chapel Hill - Carrboro City Schools and Orange County Schools and Contingent Approval of Budget Amendment # 9-A Related to School Capital Project Ordinances DEPARTMENT: Financial Services PUBLIC HEARING: (Y/N) No ATTACHMENT(S): Attachment 1. CHCCS - Debt Service Application Attachment 2. OCS - Debt Service Application INFORMATION CONTACT: Clarence Grier, (919) 245-2453 PURPOSE: To approve applications to the North Carolina Department of Public Instruction (NCDPI) to release funds from the NC Education Lottery account related to FY 2011-12 debt service payments for Chapel Hill - Carrboro City Schools and Orange County Schools, and to approve Budget Amendment #9-A (amended School Capital Project Ordinances), contingent on the State's approval of the applications. BACKGROUND: Both school systems have previously presented approved resolutions from their respective Boards requesting that the County modify its Capital Funding Policy by applying accumulated lottery funds for debt service payments and permitting current year withdrawals immediately after the State's quarterly lottery fund allocations. This expedites both the application process and the receipt of funds for the school systems. Currently, the accumulated available lottery funds for Chapel Hill - Carrboro City Schools (CHCCS) total $492,654, and $304,880 for Orange County Schools (OCS). The attached applications request the State to release lottery funds to cover debt service for both school systems. Budget Amendment #9-A provides for the receipt of the Lottery Funds, contingent on State approval of the applications, and substitutes the amount of Lottery Funds approved for debt service to both districts as additional Pay-As-You-Go (PAYG) funds for FY 2011-12 for capital needs and projects, and amends the budgets for the following school capital projects: Chapel Hill - Carrboro City Schools ($492,654): Classroom/Academic Improvements ($110,000) - Project # 53025 Revenues for this project: Current FY 2011-12 FY 2011-12 Amendment FY 2011-12 Revised From General Fund PAYG $485,000 $110,000 $595,000 Total Pro'ect Fundin $485,000 $110,000 $595,000 Appropriated for this project: Current FY 2011-12 FY 2011-12 Amendment FY 2011-12 Revised Classroom/Academic Im rovements $485,000 $110,000 $595,000 Total Costs a485,000 a110,000 $595,000 Doors/Hardware/Canopies ($27,654) - Project # 53023 Revenues for this ro'ect: Current FY 2011-12 FY 2011-12 Amendment FY 2011-12 Revised From General Fund PAYG $50,000 $27,654 $77,654 Total Pro'ect Fundin $50,000 ~27,654 $77,654 Appropriated for this project: Current FY 2011-12 FY 2011-12 Amendment FY 2011-12 Revised Doors/Hardware/Cano ies $50,000 $27,654 $77,654 Total Costs 550,000 ~27,654 $77,654 Mechanical Systems ($205,000) - Project # 54006 Revenues for this ro'ect: Current FY 2011-12 FY 2011-12 Amendment FY 2011-12 Revised From General Fund PAYG $541,721 $205,000 $746,721 Lotte Proceeds $959,247 $0 $959,247 Total Pro'ect Fundin $1,500,968 $205,000 ~1,705,968 A ro riated for this ro'ect: Current FY 2011-12 FY 2011-12 Amendment FY 2011-12 Revised Mechanical S stems $1,500,968 $205,000 $1,705,968 Total Costs $1,500,968 $205,000 $1,705,968 Planning for Future Projects ($150,000) - Project # 54009 Revenues for this project: Current FY 2011-12 FY 2011-12 Amendment FY 2011-12 Revised From General Fund PAYG $0 $150,000 $150,000 Total Pro'ect Fundin $0 $150,000 ~150,000 Appropriated for this project: Current FY 2011-12 FY 2011-12 Amendment FY 2011-12 Revised Plannin for Future Pro'ects $0 $150,000 $150,000 Total Costs ~0 ~150,000 a150,000 Orange County Schools ($304,880): Athletic Facilities ($115,322) - Project # 51027 Revenues for this project: Current FY 2011-12 FY 2011-12 Amendment FY 2011-12 Revised From General Fund PAYG $80,000 $115,322 $195,322 Total Pro'ect Fundin $80,000 a115,322 ~195,322 Appropriated for this prolect: Current FY 2011-12 FY 2011-12 Amendment FY 2011-12 Revised Athletic Facilities $80,000 $115,322 $195,322 Total Costs $80,000 5115,322 a195,322 HVAC Upgrades/Improvements ($189,558) - Project #51013 Revenues for this project: Current FY 2011-12 FY 2011-12 Amendment FY 2011-12 Revised From General Fund PAYG $524,292 $189,558 $713,850 Total Pro'ect Fundin $524,292 ~189,558 5713,850 Appropriated for this project: Current FY 2011-12 FY 2011-12 Amendment FY 2011-12 Revised HVAC U rades/Im rovements $524,292 $189,558 $713,850 Total Costs $524,292 $189,558 $713,850 4 FINANCIAL IMPACT: The total Lottery Fund amounts requested from the State for Chapel Hill-Carrboro City Schools is $492,654, and $304,880 for Orange County Schools. RECOMMENDATION(S): The Manager recommends the Board approve, and authorize the Chair to sign, the applications for NC Education Lottery Proceeds; and approve Budget Amendment #9-A receiving the Lottery Funds and amending the School Capital Project O~dinances, contingent on the State's approval of the applications. ~-El-ad~.-~- .~ 5 APPLICATION Approved: PUBLIC SCHOOL BUILDING CAPITAL FUND NORTH CAROLINA EDUCATION LOTTERY Date: County: Orange County ~Eq; Chapel Hill - Carrboro City Schoois Address: P•O. Box8181, Hilisborough, NC Project Tifle: Location: Type of Facility Contact Person: Clarence Grier Title: Financial 5ervices Director Phone: (919) 245-2453 FY 2011-12 Debt Service (Spring 2006 Private Placement) Short description of Construction Project: Debt Service associated with Spring 2006 Private Placement - issued June 2007 for Chapel Hil~ - Carrboro City Schools Elementary #10 Estimated Costs: Purchase of Land $ Planning and Design Services New Construction Additions / Renovations Repair Debt Payment / Bond Payment ' 492,654.00 TOTAL $ 492,654.00 Estimated Project Beginning Date: July 2011 Est. Project Completion Date: .1une 2012 We, the undersigned, agree to submit a statement of state monies expended for this project within 60 days following completion of the project. The County Commissioners and the Board of Education do hereby jointly request approval of the above project, and request re{ease of $ 492,654.00 from the Public School Building Capital Fund (Lottery Distribution). We certify that the project herein described is within the parameters of G.S. 115C-546. (Signature - Chair, County Commissioners) (Date) (Signature - Chair, Board of Education) (Date) Form Date: July 01, 2011 ~~~ ~ APPLICATION PUBLIC SCHOOL BUILDfNG CAPITAL FUND NORTH CAROLINA EDUCATION LOTTERY County: ~range County ~E,q; Orange County Schools Address: P.O. Box 8181, Hillsborough, NC Project Title: FY 2011-12 Debt Service (G.O. Bonds and Alternative Financing) Location: Type of Facility: Short description of Construction Project: Debt Service associated with G.O. Bonds - issued September 2005 for Gravelly Hill Middle School and Spring 2006 Alternative Financing for Gravelly Hill Middle Schop Estimated Costs: Purchase of Land $ Planning and Design Services New Construction Additions / Renovations Repair Debt Payment / Bond Payment 304,880.00 TOTAL $ 304,880.00 Estimated Project Beginning Date: .1uly 2011 Est. Project Completion Date: .1une 2092 We, the undersigned, agree to submit a statement of state monies expended for this project within 60 days following completion of the project. The County Commissioners and the Board of Education do hereby lointly request approval of the above project, and request release of $ 3oa,88o.00 from the Public SchooF Building Capital Fund {Lottery Distribution). We certify that the project herein described is within the parameters of G.S. 115C-546. (5ignature - Chair, County Commissioners) (Date) Approved: Date: Contact Person: Clarence Grier Title: Financial Services Director Phone: (919) 245-2453 6 (Signature - Chair, Board of Education) (Date) Form Date: July 01, 2011