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Home My WebLink AboutAgenda - 10-06-20; 12-6 - Information Item - 2016 School Bond Projects ORANGE COUNTY NaWTl-i CAR OLI A FINANCE and ADMINISTRATIVE SERVICES Gary Donaldson,CTP,Chief Financial Officer/adonaldson@oran eg countync.gov/200 S.Cameron Street,Hillsborough,NC 27278/919.245.2453 DATE: October 6, 2020 TO: Board of County Commissioners FROM: Gary Donaldson, CFO RE: 2016 School Bond Projects There was a Board request to include the referenced subject as an Information Item for the October 6, 2020 Virtual Business Meeting records. Please note, this is the same School bond projects summary provided at the September 24, 2020 Joint BOCC/Schools meeting. There will be quarterly updates as to the status of the 2016 School bond projects. Cc: Bonnie Hammersley, County Manager Attachments 2 Chapel Hill-Carrboro City Schools 2016 Bond Issuance Projects Update Projected Actual(as of Completion Date Current Approved August 31, Project Project Status of All Projects Budget 2020) Available Building A and Building D(new buildings)-Final stages;awaiting occupancy permits Building E(CTE)-Ongoing;expected 10/15 Chapel Hill High School Building B,C(existing)-Ongoing renovations Demolition Old Building A(main bldg)-Ongoing w/scheduled Substantial demo removal by 11/15 Completion Student Parking Lot(new)-Scheduled by December 31st scheduled for Substantial completion:January 15th 1/15/2021 $ 68,000,000 $ 58,020,144 $ 9,979,856 Project on hold. Fund expenditures were completed for design Lincoln Center Conversion fees.Requested transfer of the remaining funds for the completion of the Chapel Hill High School project. No new status $ 1,436,000 $ 796,868 $ 639,132 These Preliminary Planning Funds were provided to CHCCS as part of the FY 2015-16 CIP to be"shovel'ready"for a project or Preliminary Planning Funds projects;these funds would be reimbursed from approved Bond Referendum funds $ 750,000 $ 750,000 $ - Total Bonds Issued to Date $ 70,186,000 $ 59,567,012 $ 10,618,988 Bonds Yet to Be Issued Scheduled Final Tranche of 2016 Bond Funds in FY 2021-22 $ 1,922,000 Grand Total of 2016 Bonds $ 72,108,000 3 Chapel Hill High School/Lincoln Center Projects (Major Facility Renovations project in CIP) Project Original Budget Revised Budget Actuals* Balance Remaining Notes Chapel Hill High School 68,000,000 68,000,000 58,020,144 9,979,856 Bond Funds CHHS-Major Renovations -this amount not included in Combined Bond Project 600,900 598,478 598,478 - Older Facilities Funding Totals Below Total 68,600,900 68,598,478 58,618,622 9,979,856 Available Funds(Capital Reserve Funds): Lincoln Center Conversion 1,436,000 1,436,000 796,868 639,132 Bond Funds Major Facility Renovations 1,724,900 1,733,892 - 1,733,892 All in a Contingency account Total 3,160,900 3,169,892 796,868 29373,024 Grand Total-Major Facility Renovations 71,761,800 71,7689370 59,415,490 12,352,880 Actuals as of Munis Report through 8131120 Total Exps(est. Combined Bond Projects: by CHCCS) Chapel Hill High School Project 74,168,678 Lincoln Center Project(includes$750K in Preliminary Planning Exps) 1,546,868 Total 75,715,546 Total Revs(est. by CHCCS) Bond Funds-Chapel Hill High School 68,000,000 Bond Funds Used-Lincoln Center 796,868 Apply Unused Bond Funds from Lincoln Center towards the CHHS Project 639,132 Advanced Preliminary Planning Funds-Bond Funds 750,000 Final Tranche of 2016 Bond Funds in FY 2021-22 1,922,000 Total 2016 Bond Funds 72,108,000 Estimated Sales Tax Reimbursements 1,200,000 Use of Available Contingency Funds-Major Facility Renovations Project(53053) 1,733,892 75,041,892 Surplus/(Deficit) (673,654) Deficit to be Covered with available School Capital Outlay Fund Balance-CHCCS 673,654 Surplus/(Deficit) 0 4 Orange County Schools 2016 Bond Issuance Projects Update Projected Actual(as of Completion Date Current Approved August 31, Project Project Status of All Projects Budget 2020) Available ALS-have started last phase;CP-completed in 2019;CE-will be Roofing Projects completed this year;GAB-completed in 2020;OHS-assessing final phase; 22-Dec $ 4,056,993 $ 1,072,934 $ 2,984,059 Property Acquisition Completed/occupied January 2020 Jan-20 $ 3,100,000 $ 3,104,353 $ (4,353) Cedar Ridge High School Addition on schedule for completion in January 2021;within budget tan-21 $ 14,500,000 $ 8,198,106 $ 6,301,894 OHS 98%completed;beginning CRHS. Will then move to middle School Safety/Security schools: ALS,GHMS,CW Stanford. Elementary schools to follow based on completion of the vestibule projects Projected completion all schools--January 2021 Jan-21 $ 2,500,000 $ 12,550 $ 2,487,450 Design assessment completed on six schools: Central Elementary, AL Stanback middle,New Hope Elementary,Hillsborough Elementary(specific buildings),Grady Brown Elementary and Work to continue Efland Cheeks Elementary;schools prioritized according to during summers for Mechanical Systems greatest need;Central Elementary design nearing completion with at least next three bid date projected during Q1 2021. ALS projected thereafter. years. SOW exceeds funding so prioritization will continue in order to maximize available funds. $ 10,871,007 $ 9,341,369 $ 1,529,638 Two phase project at CP. Phase I anticipated to be completed 10.2020.Phase 11 anticipated completion August 2021. Phase 11 Classroom/Building Improvements SOW anticipated to exceed funding so prioritization will continue in order to maximize available funds. 21-Aug $ 1,000,000 $ 72,607 $ 927,393 These Preliminary Planning Funds were provided to OCS as part of the FY 2015-16 CIP to be"shovel'ready"for a project or projects; Preliminary Planning Funds these funds would be reimbursed from approved Bond Referendum funds $ 478,000 $ 478,000 $ - Total Bonds Issued to Date $ 36,506,000 $ 22,279,919 $ 14,226,081 Bonds Yet to Be Issued Scheduled Final Tranche of 2016 Bond Funds in FY 2021-22 $ 11,386,000 Grand Total of 2016 Bonds $ 47,892,000 5 Orange County Schools 2016 Bond Projects Project Original Budget Revised Budget Actuals* Balance Remaining Notes Roofing Projects 4,056,993 4,056,993 1,072,934 2,984,059 Bond Funds Property Acquisition 3,100,000 3,100,000 3,104,353 (4,353) Bond Funds Cedar Ridge High School Addition 14,500,000 14,500,000 8,198,106 6,301,894 Bond Funds School Safety/Security 2,500,000 2,500,000 12,550 2,487,450 Bond Funds Mechanical Systems 10,871,007 10,871,007 9,341,369 1,529,638 Bond Funds Classroom/Building Improvements 1,000,000 1,000,000 72,607 927,393 Bond Funds Total 36,028,000 36,028,000 21,801,919 14,226,081 Available Funds: Bond Funds Provided in Preliminary Planning Funds-approved in FY 2015-16 CIP 478,000 478,000 478,000 - Advance of Bond Referendum Repurposed Funds from Other OCS Capital Projects in FY 2017-18 to Mechanical Systems Project - 1,463,407 - 1,463,407 Repurposed Funds Total 478,000 1,941,407 478,000 1,463,407 Grand Total-Major Facility Renovations 36,506,000 37,969,407 22,279,919 15,689,488 *Actua/s as of Munis Report through 8131120 Total Exps(est. Bond Projects: by OCS) Roofing Projects 4,056,993 Property Acquisition 3,104,353 Cedar Ridge High School Addition 14,500,000 School Safety/Security 2,500,000 Mechanical Systems 10,871,007 Classroom/Building Improvements 1,000,000 Advanced Preliminary Planning Funds in FY 15-16 CIP-Bond Funds 478,000 Total 36,510,353 Final Tranche of 2016 Bond Funds in FY 2021-22 11,386,000 Grand Total 47,896,353 Total Revs(est. by OCS) Bond Funds-Roofing Projects 4,056,993 Bond Funds-Property Acquisition 3,100,000 Bond Funds-Cedar Ridge High School Addition 14,500,000 Bond Funds-School Safety/Security 2,500,000 Bond Funds-Mechanical Systems(includes Repurposed Funds from FY 17-18: 10,871,007 Bond Funds-Classroom/Building Improvements 1,000,000 Advanced Preliminary Planning Funds in FY 15-16 CIP-Bond Funds 478,000 Total 2016 Bond Funds 36,506,000 Final Tranche of 2016 Bond Funds in FY 2021-22 11,386,000 Estimated Sales Tax Reimbursements - Grand Total 47,892,000 Surplus/(Deficit) (4,353)