HomeMy WebLinkAboutAgenda - 06-16-2016 - 4 - Accept and Approve the Five Year CIP and Adopt Capital Project Budgets for 2016-17 ORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: June 16, 2016
Action Agenda
Item No. 4
SUBJECT: FY2016-21 Capital Investment Plan - Accept the Five Year Capital Investment
Plan and Approve the Intent to Adopt Capital Funding for FY2016-17
DEPARTMENT: County Manager and Finance
and Administrative Services
ATTACHMENT(S): INFORMATION CONTACT:
Bonnie Hammersley, (919) 245-2300
Travis Myren, (919) 245-2308
Gary Donaldson, (919) 245-2453
Paul Laughton, (919) 245-2152
PURPOSE: FY2016-21 Capital Investment Plan - Accept the Five Year Capital Investment Plan
and Approve the Intent to Adopt Capital Funding for FY2016-17.
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. Approval of the CIP commits the
County to the first year funding only of the capital projects; all other years are used as a
planning tool and serves as a financial plan.
Capital Investment Plan — Overview
The FY 2016-21 CIP includes County Projects, School Projects, and Proprietary Projects. The
School Projects include Chapel Hill Carrboro City Schools, Orange County Schools, and
Durham Technical Community College — Orange County Campus projects. The Proprietary
Projects include Water and Sewer, Solid Waste Enterprise Fund, and Sportsplex 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.
FINANCIAL IMPACT: The Five Year Capital Investment Plan is a long-range financial planning
tool with a financial impact in FY2016-21, if the first year of the CIP is approved by the Board of
County Commissioners with the adoption of the Annual Operating Budget.
SOCIAL JUSTICE IMPACT: There are no Social Justice Goal impacts associated with this
item.
RECOMMENDATION(S): The Manager recommends that the Board accept the Five Year
Capital Investment Plan and Approve the Intent to Adopt Capital Funding for FY2016-17.