HomeMy WebLinkAboutAgenda - 04-07-20; 6-c - Presentation of Manager’s Recommended FY 2020-25 Capital Investment Plan (CIP) 1
ORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: April 7, 2020
Action Agenda
Item No. 6-c
SUBJECT: Presentation of Manager's Recommended FY 2020-25 Capital Investment Plan
(CIP)
DEPARTMENT: County Manager and Finance and
Administrative Services
ATTACHMENT(S): INFORMATION CONTACT:
Bonnie Hammersley, County Manager,
UNDER SEPARATE COVER (919) 245-2300
Attachment 1. County Manager's CIP Travis Myren, Deputy County Manager,
Transmittal Letter (919) 245-2308
Attachment 2. FY 2020-25 Capital Gary Donaldson, Financial Services,
Investment Plan (919) 245-2453
Presentation Paul Laughton, Financial Services,
Attachment 3. Manager Recommended (919) 245-2152
FY 2020-25 Capital
Investment Plan
All Attachments To Be Provided Prior
to or in Coniunction with the Meetin_g
and also Available Electronically at:
http://www.co.orange.nc.us/Archive.as
px?AMID=57
PURPOSE: To receive the Manager's Recommended FY 2020-25 Capital Investment Plan
(CIP).
BACKGROUND: Each year, the County produces 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 2020-25 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.
2
The CIP has been prepared anticipating moderate economic growth of approximately 2% in
property tax growth over the next five years, and 4% sales tax growth in Years 2-5. Sales Tax
proceeds for Year 1 (FY 2020-21) are estimated to decline by 4.5% due to the current
coronavirus pandemic. Many of the projects in the CIP will rely on debt financing to fund the
projects.
FINANCIAL IMPACT: There is no immediate financial impact associated with the presentation
of the FY 2020-25 Capital Investment Plan. It is a long-range financial planning tool with a
financial impact in FY 2020-25, if the first year of the CIP is approved by the Board of County
Commissioners with the adoption of the Annual Budget.
SOCIAL JUSTICE IMPACT: There is no Orange County Social Justice Goal impact associated
with this item.
ENVIRONMENTAL IMPACT: There is no Orange County Environmental Responsibility Goal
impact associated with this item.
RECOMMENDATION(S): The Manager recommends the Board receive the presentation of the
Manager's Recommended FY 2020-25 Capital Investment Plan and provide direction to staff in
preparation for discussion at the April 14, 2020 Budget work session.