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Home My WebLink AboutAgenda - 11-20-2012 - 5g 1 � ORD-2012-052 ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: November 20, 2012 Action Agenda Item No. 5-g SUBJECT: Application for North Carolina Education Lottery Proceeds for Orange County Schools (OCS) and Contingent Approval of Budget Amendment#4-A Related to OCS Capital Project Ordinances DEPARTMENT: Financial Services PUBLIC HEARING: (Y/N) No ATTACHMENT(S): INFORMATION CONTACT: Attachment 1. Orange County Schools— Clarence Grier, (919) 245-2453 Lottery Proceeds Application PURPOSE: To approve an application to the North Carolina Department of Public Instruction (NCDPI) to release funds from the NC Education Lottery account related to FY 2012-13 debt service payments for Orange County Schools, and to approve Budget Amendment #4-A (amended School Capital Project Ordinances) contingent on the State's approval of the application. 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 Orange County Schools (OCS) is $237,735. The attached application requests the State to release lottery funds of $230,000 to cover debt service for the Orange County Schools system. Budget Amendment #4-A provides for the receipt of the Lottery Funds, contingent on State approval of the application, and substitutes the amount of Lottery Funds approved for debt service as additional Pay-As-You-Go (PAYG) funds for FY 2012-13 for OCS capital needs and projects, and amends the budgets for the following OCS capital projects: 2 r Orange County Schools ($230,000): Classroom/Building Improvements ($225,000)—Project#51025 Revenues for this project: Current FY FY 2012-13 FY 2012-13 2012-13 Amendment Revised From General Fund PAYG $3,769,440 $225,000 $3,994,440 Total Project Funding $3,769,440 $225,000 $3,994,440 A ppropriated for this project: Current FY FY 2012-13 FY 2012-13 2012-13 Amendment Revised Construction/Renovations $3,769,440 $225,000 $3,994,440 Total Costs $3,769,440 $225,000 $3,994,440 Partnership Academy($5,000)—Project#50009 Revenues for this project: Current FY FY 2012-13 FY 2012-13 2012-13 Amendment Revised From General Fund PAYG $356,720 $5,000 $361,720 Total Project Funding $356,720 $5,000 $361,720 A ppropriated for this project: Current FY FY 2012-13 FY 2012-13 2012-13 Amendment Revised Construction $356,720 $5,000 $361,720 Total Costs $356,720 $5,000 $361,720 FINANCIAL IMPACT: The total Lottery Fund amounts requested from the State for Orange County Schools is $230,000. RECOMMENDATION(S): The Manager recommends the Board approve and authorize the Chair to sign the application for NC Education Lottery Proceeds; and approve Budget Amendment #4-A receiving the Lottery Funds and the amended OCS Capital Project Ordinances, contingent on the State's approval of the application. Attachment 1 3 APPLICATION Approved: PUBLIC SCHOOL BUILDING CAPITAL FUND NORTH CAROLINA EDUCATION LOTTERY Date' County: Orange County Contact Person: Clarence Grier LEA: Orange County Schools Title: Assistant County Mgr,CFO Address: P.O. Box 8181,Hillsborough, NC Phone: (919)245-2453 Project Title: FY 2012-13 Debt Service(G.O.Bonds) Location: Type of Facility: North Carolina General Statutes, hapte,r 18C, provides that a portion of.the proceeds of the Norul Carolina State Lottery Fund be transferred.to the:Public School, uilding Capital Fund 1n.accorda�ce with G.S.1150-546.2 Further,G.iS 11,5E-546.2(ti)hasbeen emended..to rnclude the::fiollowtrig: _:(3)No.county shall have,_to provide matching funds (4)A county may use monies 1n this Fund to pay for school_construction prp ects 1n local school administrative units:and to retire,indebtedness incurred.for'school:constfu0' prpjects (5) A county may not use monies jn this,Fund to pay for school technology needs As used in this section,"Ppk lic School Bui!dings"shall rnclU e only,faciltties far individual schaois that are used for'instructional acid relatec purposes,an,d does riot include central administration, maintenance, or other facilities. Applications must be submitted wrthin one year follQw�ng the date.of Irna/payment to the Contractor.:or tlerrclor Short description of Construction Project: Debt Service associated with G.O. Bonds issued Fall 2005 for Orange County Schools Gravelly Hill Middle School Estimated Costs: Purchase of Land $ Planning and Design Services New Construction Additions/Renovations Repair Debt Payment/Bond Payment 230,000.00 TOTAL $ 230,000.00 Estimated Project Beginning Date: July 2012 Est.Project Completion Date: June 2013 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 release of$ 230,000.00 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