HomeMy WebLinkAboutAgenda - 06-13-2013 - 1 1
ORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: June 13, 2013
Action Agenda
Item No. 1
SUBJECT: FY2013-18 Capital Investment Plan - Accept the Five Year Capital Investment
Plan and Approve the Intent to Adopt Capital Funding for FY2013-14
DEPARTMENT: County Manager and Finance PUBLIC HEARING: (Y/N) No
and Administrative Services
ATTACHMENT(S): INFORMATION CONTACT:
Frank Clifton 919-245-2306
Clarence Grier 919-245-2453
Paul Laughton 919-245-2152
PURPOSE: FY2013-18 Capital Investment Plan - Accept the Five Year Capital Investment Plan
and Approve the Intent to Adopt Capital Funding for FY2013-14.
BACKGROUND: For over 20 years, the County has produced a Capital Investment Plan (CIP)
that establishes a budget planning guide related to capital needs for the County as well as
Schools. The current CIP consists of a 5-year plan that is evaluated annually to include year-to-
year changes in priorities, needs, and available resources.
Capital Investment Plan — Overview
The FY 2013-18 CIP includes County Projects, School Projects, Proprietary Projects, and
Special Revenue Projects.
The CIP has been prepared anticipating continued slow economic growth of between 1-2%
annually over the next five years. Many of the projects in the CIP will rely on debt financing to
fund the projects. A Debt Service and Debt Capacity spreadsheet is included in the Appendices
section of the document detailing this planned debt.
Additionally, during FY 2013-14 the County will pursue a review and update of its facility needs.
Several costly maintenance related projects are planned for a few of the County's older facilities.
A thorough analysis is needed of whether these maintenance projects should be pursued or
whether the funding for these items would better serve County needs being allocated toward
new facilities.
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FINANCIAL IMPACT: The Five Year Capital Investment Plan is a long-range financial planning
tool with a financial impact in FY 2013-14, if the first year of the CIP is approved by the Board of
County Commissioners with the adoption of the Annual Operating Budget.
RECOMMENDATION(S): The Manager recommends that the Board accept the Five Year
Capital Investment Plan and Approve the Intent to Adopt Capital Funding for FY2013-14.