HomeMy WebLinkAboutAgenda - 06-23-2005-9cORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: .June 23, 2005
Action Age a
Item No. „~
SUBJECT: Revised Orange County Capital Funding Policy
DEPARTMENT: Manager/Budget/Finance PUBLIC HEARING: (Y/N) No
ATTACHMENT(S):
Proposed Capital Funding Policy
(under separate cover)
INFORMATION CONTACT:
.John Link or Rod Visser, ext 2300
Donna Dean, ext 2151
Ken Chavious, ext 2453
TELEPHONE NUMBERS:
Hillsborough 732-8181
Chapel Hill 968-4501
Durham 688-7331
Mebane 336-227-2031
PURPOSE: To consider formal adoption of a written capital funding policy that codifies the
Board of Commissioners' decisions made on May 5, 2005 regarding the implementation of the
60-40 schoollcounty capital funding policy.
BACKGROUND: At the Board's May 5, 2005 work session, the Board chose Option 2 from
among the approaches previously presented by staff to "operationalize" the BOCC's November
2004 policy that earmarks 60 percent of capital funding far school projects and 40 percent of
capital funding for County projects for the next ten years. The accompanying written policy, if
formally adopted by the Board, would supersede the County's previous capital funding policy,
as originally adopted in December 1996.
The Board may also consider receiving this draft for information at this time, as there is no
compelling reason that it must be adopted now, The Board has already made its capital
funding decisions as part of the 2005-05 budget deliberations, and those will be implemented
irrespective of the Board's adoption of the revised capital funding policy either at this meeting or
in the future, If the Board decides to postpone formal adoption of the revised policy, that can be
brought back for BOCC consideration late this summer when staff returns with revised school
and County CIPs for 2005-15 and the balance of 2005-06 school and County capital project
ordinances (those not being acted upon by the BOCC at this June 23 meeting),
FINANCIAL IMPACT: The written policy will guide staff preparation of annual updates to pay-
as-you-go capital funding allocations between the County and the two school systems that are
the basis for annual revisions to the ten-year school and County Capital Investment Plan (CIP),
RECOMMENDATION(S): The Manager recommends that the Board approve the
accompanying formal written capital funding policy, either at this or a future BOCC meeting,