032718wsHarnett County Board of Commissioners
Work Session
Tuesday, March 27, 2018
9:00 am
9:00 am Meeting with the Board of Education
9:15 am Closed session
10:00 am Harnett County Schools Funding
10:15 am Harnett County Debt Capacity
10:30 am State School Construction Bonds — HB866/SB542
10:45 am 2018-19 Priorities for new construction/renovations/maintenance
11:15 am Old Benhaven Elementary School
11:30 am County Manager's Report:
- April 2, 2018 Regular Meeting Agenda Review
- Invitations and upcoming meetings
11:45 am Closed Session
1:00 pm Adjourn
HARNETT COUNTY BOARD OF COMMISSIONERS
March 27, 2018
CLOSED SESSION MOTION
I move that the Board go into closed session for the following purpose(s):
(1) To assist in the formulation of plans by the Harnett County Board of Education relating to the
emergency response to incidents of school violence; and
(2) To discuss and instruct the County staff concerning the position to be taken by the County in
negotiating the material terms of a proposed contract for the acquisition of real property
This motion is made pursuant to N. C. General Statute Section 143-318.11 (a) (8) & (5)
Education Capital Funding
Funding Formula Proposals
Introduction:
The County has an approved formula that calculates current expense funding but not capital. This
formula is based upon the most recently known 2nd month average daily membership (ADM) count of
students within the Harnett County Public School System, times the most recent known three-year
average of approppriations per ADM for Harnett County as determined by the NC Department of Public
Instruction.
Background:
The funding of capital and capital maintenance items for schools in the past was based on available
funding. This method was inconsistent and was amended throughout the year. A funding formula
would allow consistency and enable the schools to better plan the upcoming year . It would also
eliminate unnecessary the "back and forth" required by staff and board members in addressing these
types of items. The table below reflects prior years' activity .
Fiscal Year
Adjusted
Fund Original Budget Budget Activity
2013 110 $ $ $
2014 110
2015 110 -
308* 1,300,000 1,300,000 278,389
2016 110 255,707 280,707 280,707
308* - 1,039,787
2017 110 - 122,625 122,625
229** 972,126 972,126 929,737
308* 9,334
2018 110 750,000 1,884,630 1,112,106
Avg Original Avg. Adjusted Average
Budget Budget Activity
Fiscal Years 2015 - 2017 $ 421,306 $ 445,910 $ 443,430
* CP1501 School Projects (Article 46). When the local option sales tax was approved by the voters, the
schools requested that they be allowed to use $1.3 million for maintenance and repairs in various
schools. This project was approved on 1/14/2015 and the final funds were spent on 9/21/2016.
** Fund 229 represents the. sales tax expansion funds ($3,800,000) that are restricted for Education,
Community College and Economic Development uses. On July 1, 2017, the schools were allocated
$972,126 for capital and maintenance needs. At the end of the year, $42,389 of the allocation
remained unspent and was reappropriated for use in this fiscal year.
C:\Users\gwheeler\AppData\Local\Microsoft\Windows\INetCache\Content.Outlook\TPTEQCLV\Education - Capital Funding Formula Proposal
Proposed Solution:
Establish a tunding tormula based upon a percentage of the prior tiscal years net Article 39 (General
Fund) sales tax collections. By using the net sales tax, the funding will remain more consistent than in
prior years and should enable the schools to better plan for these items. Note: The Sales Tax Expansion
($3.8 million) is not proposed for use in the capital funding formula. The portion of these funds that
represent education will be used toward the current expense funding of the $1,500 teacher
supplement. For FY 2018, this amount was projected at $2,199,000.
Using the table below, the FY 2018-2019 capital appropriation to the schools would be $896,881.
2014 2015 2016 2017
Article 39 Sales Tax $ 5,469,096 $ 6,061,497 $ 6,993,302 $ 7,232,427
Less:
City Hold Harmless (847,576) (932,445) (993,361) (1,075,170)
Schools Hold Harmless (1,398,432) (1,549,804) (1,568,663) (1,672,850)
Article 39, net $ 3,223,088 $ 3,579,248 $ 4,431,278 $ 4,484,407
Allocation Based upon selected percentage
15% $ 483,463.20 $ 536,887.20 $ 664,691.70 $ 672,661.05
20% * $ 644,617.60 $ 715,849.60 $ 886,255.60 $ 896,881.40
21%
22%
23%
24%
25%
676,848.48 $
709,079.36 $
741,310.24 $
773,541.12 $
805,772.00 $
751,642.08 $ 930,568.38 $ 941,725.47
787,434.56 $ 974,881.16 $ 986,569.54
823,227.04 $ 1,019,193.94 $ 1,031,413.61
859,019.52 $ 1,063,506.72 $ 1,076,257.68
894,812.00 $ 1,107,819.50 $ 1,121,101.75
* At the budget work session on February 27, 2018 the Board expressed an interest in setting the
funding percentage at 20%
C:\Users\gwheeler\AppData\Local\Microsoft\Windows\INetCache\Content.Outlook\TPTEQCLV\Education - Capital Funding Formula Proposal
Current Expense Funding History
Funding Revision
Introduction:
The County has an approved formula that calculates current expense funding. This formula is based upon the most recently
known 2nd month average daily membership (ADM) count of students within the Harnett County Public School System, times
the most recent known three-year average of approppriations per ADM for Harnett County as determined by the NC
Department of Public Instruction.
3 -?7-)8
N� ,hoc
gok
kY S
Background:
Because Harnett County is a Low Wealth County, funds that are not given as capital are identified as "current expense".
Particular care should be given in appropriating new funds because those funds cannot be stopped without potentially
jeopardizing the low wealth formula. Simply stated, the County cannot give less than the "per pupil amount" of the preceding
year. The table below reflects the past five years of current expense funding.
2017 2017 2018 2018
Original Adjusted Original Adjusted
2014 2015 2016 Budget Budget Budget Budget
Current Expense:
Current Expense $20,523,700 $21,523,700 $21,267,993 $21,230,016 $21,420,138 $21,068,027 $20,168,027
Additional Positions 0 0 0 0 72,542 200,000 524,195
Teacher Supplement 0 0 0 1,252,000 2,199,000 1,776,084
K-3 0 0 0 0 1,055,200 920,000 0
Total current expense $20,523,700 $21,523,700 $21,267,993 21,230,016 $23,799,880 24,387,027 $22,468,306
C:\Users\gwheeler\AppData\Local\Microsoft\Windows\INetCache\Content.Outlook\TPTEQCLV\Education - Current Expense - Proposal
Proposed Solution:
For budget year 2019, include all "current expense" items listed for the 2018 adjusted budget in one current expense account
that will be paid each month on a 1/12 basis.
For teacher supplements, it has been the desire of the Harnett County Board of Commissioners to remain abreast of the
number and type of school staffing personnel. To continue tracking the school personnel count, the budget ordinance will be
modified. The Public School Personnel Summary count will remain but the paragraph will be modified as shown below:
(request additional input from the Harnett County Board of Commissioners)
Teacher's Supplement: (current)
Harnett County will budget a classroom teacher supplement for all teachers employed for at least one year as of
September 1st of the current fiscal year, based upon the latest known Public School Personnel Summary as provided by
the NC Department of Public Instruction.
Teacher's Supplement: (proposed)
The current expense appropriation includes an approximated $1,500 supplement for classroom teachers employed for
at least one year as of September 1st of the current fiscal year, based upon the latest known Public School Personnel
Summary as provided by the NC Department of Public Instruction. Article 44 Restricted Sales Tax Expansion Funds will
be used to offset this appropriation.
For the fiscal year 2017-2018 budget year, this amount has been estimated as follows:
Elementary Teachers 622
Secondary Teachers 170
Other Teachers 468
Subtotal Teachers 1260
Guidance 54
Psychological 8
Librarian, audio 26
Consultant supervisor. 46
Other 72
Subtotal Professional 206
Total 1,466
1,466 x $1,500 = $2,199,000
C:\Users\gwheeler\AppData\Local\Microsoft\Windows\INetCache\Content.Outlook\TPTEQCLV\Education - Current Expense - Proposal
Discussion Materi
Harnett County, North Carolina
c2
0
04r
Member NYSE 1 FINRAI SIPC
Debt Affordability Analysis
a)
O
a)
co
U)
U
co
0
E
0.
O
c
N
c)
UA
c
co
L
U
a)
v -
co
O
0
<
O 3
Z .=
•
c
0
w
0
0
CO
0
}
® Assumed Growth Rate:
7 Source: FY 2018 Budget
a
0
U
a
0
z
ao
Harnett County, NC
February 27, 2018
apital Funding Anal si
0
0
z
Q
Harnett County, NC
February 27, 2018
Potential Capital Funding Needs and Financing Assumptions
0
•1
Potential Projects (Tier I)
• GO Bondsl:
O
N
a--,
O 0
O N >,-, •�
O 0 0 -c C 2
U) (6 (6 N 0 d
(j) O O >, (o
co u) U) (o U i=,
(u (o C (n U) C N c
a) conch co
.= • i •i i .O ?y ?� O —
n. (o 0 d (o 0 D o o .0 .„1 Q
Q) } 0 U) i-• 0 a LL L� > � O
co
—) • co O J N O E • Lt Ls -.• LE
N O
O N
as (p
EL.). 0
nA
as C
c C:
U) 4) =
m Eo
E a) 0 E m >` • + (o
O J 0 Q O. Y
co +� Cr.) U N =
6 5 to
(0
N_ _ _
c N C .0 3 T:4 N
� � O � N � d ▪ O
QF- NQ ▪ Vii... 11 a)UU
I I I 11 I 0 I 1 i- I I
■ ■ ■
Ln ,
O) O (6
N $2, LYO]°
ct O
c ai E
`-1c = Est
0
ON @ U D E
a coN i
E N 0 EO
O N (.7 (o O
O P J U
Z c : • U)
▪ @L c�6
( c O CV O E
Z
a)•° a) �w
> ▪ .0 Q)(6 r
ill
- .0 O
6 N
N ='
.0 N O 4) CO
o O Yap O
= N • C
CO .c C O
3 N pX) c • a
C N O (0
-0 u) • m co
CO o • co
0 (f) (0 0 • O
CO _0N O�Q)
N N c -i
— > C (y
-- L.0 • o --i
c
> U
0 o E 2 J
Ez co c, (n
0) 0
`'-i ON 8 N co t0 N N
0 0 }}� m 0 p +' m
}N 0}1 L� OJ N (N c 0 0 0
OLS OLi 00� O� O�� O 000
0 ti p —ti 0 cI } 0 08
—,-c 0 +�
O� 0 0�� O N O O p No O N S O O 0 0 0
N N N
�0 0 00 0 0 „� 090 0 00 0 000 rn°oa�
N —
m COO—m O `�Nm Ncy, N m 0) CV «� dt0(0
• Lcv l O Lce l 0 E{} (n L� C 7 LOL 0 OJ Lco CL C E!i N (fl
O O
O >
_c co c.,-
O
(1)
co
m 0 _
.-• i_., in • •
c coO
O
E U°'0 m cn .oC
O O C o
W C p C C O C C
O U O O E O O
•
c ..;.3. )3.0z
C E �• ° 0E ED 0.
_
til O Lii • O "a 7 = O +0
O (1) oco
co u)
.,., Q 4- Q m Q E Q co Q (o
(v
c a: Ian c can = .▪ . co = �; _
E c id) ▪ .5 o c Yip •v a) c '� N c taU •v t)p•c
o 0 E co (( o 0 o •E co 1 o c m o o •E 0 0 0
(B E. .E o E E c E E c ,c E E c (n E E c u) E
Q < H LL c < i= it > Q - ii Q 7E,
?�
3 a it
CC • I I I I I I 0 I I Io
Z I Z I I 1 Z I
✓ E • ■ E
C
O
E g
=0
co V
o
c CT; it;
0O
E c w 0
ii io 2c
ELI
B E ®Q
0
N
Harnett County, NC
February 27, 2018
0
0
m
N
f6
0
N
(0
0
N
N
as
0
1 Debt Issued
rn
0
.,O tito
to O co
O
0 0 0 0 0 0 0 _
0 0 0 0 0 0 0 o
0 0 0 0 0 0 1+ W
O „, N000000O O O ^ N Cr?`( 92
V co O CA O O 0)
'
N O ei N M O N co Om
6 43 EA 49 <O -I N o
ER fA 000fff 0 0
ti N
tr (O
CO N Q) O) N Ln 1,-
o
O 'CO , M N O O >
tri O (..l c -I .i 0 r
c
co al
ER O
N
Q
E
00
c
Es
a)
0
_ _ O
0 0 O O ^ o
O O O O o * (0 Z
O O O lA N o +a .J 4:1,j,
0 0 to 0 NOO N M Cr) co
CO O N o o
co O O r` (p
4A I!) !� cota
N cc) tri tri M '6
(R fH c
N
M
N
r -I
$39,611,015
$22,400,000
9
0
4 -
CC)
O.
m
0
0 O ' O +L,
._ O O O
to H
M_ -p
41 O LC) N
N N N @
N LL NO O
Q) } c N
O NO o a,
N> y O L O > y
LL vO - N V 3 Nj 7 4) N
c N( j a (p o a) a) a) a
N} 'O L L V c �+ c +' W (D
O N -0 =� N (c0 N-0 c 0as
X U) E
(n c c 0 .J .., c) o E a E •� c 0
E,
a a) ° o L;5 c
m 5 c c y ( o V o V ., o m
..E• o m W (6 W (I) (i !n 3 w N w w Q)
a) .+ __ .+ .+ O T O O O O O Q N
E c d m : d N a > a)
o f m O Q O O O c o
w O c m con (°n o o z 8` o En. N i Q `i o
c > 3 3 ate+ a} N. CO Lco
x N N N N .4-
N N N y N 'o «i
W W U Z Z Z FO- 1- 0-} Q} Q} i- O N O N N N0 N0 N0 N 1- LLL. Q Z
N M a LO CO 1- 00 O O <--1 N M 7 O CO N- CO O O c-1 N M.7 0 O 1` CO 0 0 <-1 N M V
e"1 <-1 .--1 .--1 r -I ,'-1 r-1 ,1 <-I N N N N N N N N N N M M M M M
1
Harnett County, NC
February 27, 2018
Harnett County, NC
February 27, 2018
Case 1: Debt Affordability Analysis
W V m Q O n O m 01 m N N� 0.0 .0i m'N' 10 0 01 `"m0 N N
c0 m N e m N N ce N 0 H M0 0 0 m N Q O m. N
0 M' - N til " N N'11 m Q 01 01 01 P D ei 0 N.�I 0 Ol v m 0.0,01
m m m 0 0 01 N •.� O O'N d N 0 m N a0 r n N
vN .: colli o'�01 N'mv 00)0 - "0Ao6'oi o M'0
1_
oc-• 0m Nq ryN O:ASA'mm mN'F'gtp a Tn'M Nn mI� mN 2 .7; 4ON
rvu� m
.. of onto a m e "oi oN e o 0 of Iri " m m d u=i
m m m 'm'm � to N o'. to Q e m M -Nr r N N m e Iloi N
o M.P.n m c iv, n rn In e '
d
0 0 0)
0)0(01•
o n o
0 0 0. 1.1
0 0 0 0 1-1
0 0 00 1-1
0 0 0 0 0 0 0 • '0_ •-I
0 0_
N.N N N.N N N N N N N
888.8-.8888'88.8.8.88.88.88.88.8.8.888 m m.m.m m m m m m m m m m m m m m m mm m m m
O O O O OO O O'O O O O O O O O O O O O O O O O O
d a c e a c o a v v e d a ae a d
01
0
m
r
nm mmmm moa m� Ulne v
.v N.N...i, m mm m m Hm-I N H •1.10-I e� .-1..-I
mOOtT 0 0 O NN O,O:D
M m m M O N N
I O O N N M m a N In l0 m 0I Q 0(0 O .-I M Od
10110 r
ta'1 N N Q N'1 N'N.d d ea Q
<m0 0)00rmmmmmmmmm0)0)0
cti 0%eNmNN.O4N
§§§§§§§§§§§§§§§§§§§§§§§§§§§§ 0 0 0 0 0 0 O OO 0 0 0 0 0 0 00 0 0 0 0 00 0 0 0
D 0 0 0 0 0 0 0 0 0 0 0 000 O 0 0 0 0 0 O O
O0 0 0 0 0 0 OO 0 0 0 0 0 0 OO 0 0 0 0 0 0 0 0 0 0 0
t0 m� ��mio trimro� 16 roto �t6.�tc to tc <o tc <c mm tc mm
0 corn m 0) 0 m 0)0)0 v00)0) 0)+0( 0(:m 00000) Wim. Q0 )0) Qrn
O.0.1 'm M n M' M 0 .-I e0( , CO
M'N F.--
,r
N p m O.
0( N d.0. O N n•d
n N d N.n m (0 N O
24 N O ab M1 alt 2 ' Q el m 0 M O 01 01 O N
mm N m m a -O , N CI H am N n F 0( N 'm 0( N
an an n'ag m m m o ti m e ,m m co mmo oi.+
N N N N I<7 Ill N 1p m m t0' m 0' 0 tD t0. m (C t0 t0 tp 0(
OO0.0OO
O O O O O,O O'O O O O O O
0 0 0 0 0.0 0 0 0 0 0 0 0
0 0 0 08
0 0 0 0 0 0 0 0.0 0 0 0
O O O'00.00.
'O.O
0 0 0 0 0
.8
§1
O O'O O O'O O 00 0 0 0 0 0 0 O§000r0.1:00„ O'O.O O O OO 0 0 0
000000.0000000000000000000000
na
O O O O O 0 0 0,0 0 0 0 0 0 0 0 0 0 00 0 0 0 0 0 0 0 0
I(l a<l N ui vi n 6'-N Y') N I(I N N Ifl N N N N P Yl N to P
N
.”8:4`3V -
v m m m •M m m o .+.+ a o
N� N O O m t�V N< Omi N'ONi M OMi'O tmp M .0(-I O 100
N O e m d N00 OO N N m m �40.
m ti 011 N.O N m 0 0 M M MSN a N m N
o
N N N .y• N N
1§.§,
O O O O o 0 0 0 0 0 0 0 0,0 0.0 0
O 0 0 D O 0,0 OO O O O 00 0:0 00 O
0 0 0 0 0 OO o 0 0 0 0 o O:O 0 O.O O
0 0 0 0 0 0 0 0 0 0 0 0 0 0'0'0 0 0 0 0
O N O N 0'0 N 0 N O Q o N 0 0 N N O
o m m m m r,r m m N N M m N o
OoN0 0 0 NO N
ti 0 NN n ON to r O N
O N e,0( m ti M N m O N Q n m•ti'M 0(.m O N
'I O O? co n n'N of Qd M N H OO.m m r n m
M M NN N;N.N N N N N NIN N 1-1q4
M'.-1 m m N.O m e n
0 0('e-.7.! g
� m In o m m'
N t9 .1 N 0 m n m 01 t0 rl O �M M N -m � N v
m m m m a0 � 0 m'Omi. Ot 0� Omi 0 0 0 0 0 0 ti
N 0 N'O < M m N Q Nam m O m
m. m.ti.0 e m Nm 0( N m�m m ni
0( m o d:0( m m o e m
N O M m 0('N a N n a m O m W
me1Ol
N N:N 0 d N e
0(Ar0(.mmNN, em
(0 'o w o a a
a v M N'N N N
0
will go away when the new County Facility is occupied.
'ax grown at 1.00% off of FY 2017 collections of $5,583,641.
N Schools debt service and capital. Assumes no future growth.
C8 Subsidies are reduced by 6.6%as a result of sequestration.
nts the Countys FY 2017 EndingArticle 46 Sales Tax Fund Balance.
m m .+ m y m r m m o co n m o r e m v.N
N N N N N N N N N M M M m m fel M M M M Q 0
0000000000000000000.000000000
N �
^� a)
W
O
OE co
U) i
> (3 U
2 x a
O E
c
4
A 4-
W al a
` O
O
c
a) W
O C
(B
W
m U)4—
O 4-
0
U O =
0 `~
O O O N
U i +=I -c
Z 1
•
• FY 2018 Value of a Penny':
• Assumed Growth Rate:
Source: FY 2018 Budget
U)
(N
Harnett County, NC
February 27, 2018
c.
1 Rio
2v
February 27, 2018
Harnett County, NC
Case 2: Debt Affordability Analysis
's1,7,1?;'
m e
o 'N
m m '.o
0 - '.N
W O O
e N .i N
o • e. M r
m oN • .i .i
m a N.Q n r m
m o rn^ o vi 8:g
O( eN O N
N O m n Oi O C.IMD m m
"8';10 (NO O N 0 Oro ' M 0.
m� m m .0
N O..Ny 6mi m .i O Omi 0 N OD gN
N N N e N m 00 N o O ti .Qi ei N .ml ON
,o
. N O ON 2n ‘11S mO.nmn NQ0 M m m m0 m m (m0 Mm m m
41:
v v v0 v d e . 0 '0(
O O m m m O( (T m 00 O co O T 6+ m On M 6( A N
a c a'a (6'(bn o6 r6 m a6cdm co ab vi m a6 oro co co co co cu co
0
e
rn o > oM m2(n a m
M M N ei m N' m N N m �D' m N O
Oi ry M
F 41 fM O. a m m (p M O N N m N ry m m O
r N (ri Ne m� ao'o .i'ri N vi 6i c .+ N ni a
.v m �o� o m^ mN;,n N rn'm a N. oe m m a
N m n v oin ti 'inm;in m o oN a e N 0 .�
D7 M O'M N.(D' r 10 .i,M .i'm O m
'41H111.0,4
V
r n m n
• .i .i .i .y N N .+ N .y .i H .i ' ' H .-+ .( .+ ei N
O e Q Q a e a QQ
mm ON (ry
• 'ni : 9_ 'N
9i 9 99
2
0 0 00 00 08§§§§§§§F§§§§§§§§§§§1
00 0 0 0 0.00 O o 00 0 b 0 0 0 0
o o 0 0 0 0 (0 0 0 0 0. 0 0 0 0 0 0 0 0 0 0 o' 0 0 0 0$ 0
HEWmrn0
�� m m-a'm m m mm m N ro N vi N N'vi vi ui N m N� vi�N
mmE 0rnm'em rnm00m010)mm0 am OQ+_000O(00
0 m m M a 0 r o a n Nie N n m W .i N O m 0 0 0 0 0
0 mm O'm 0 M Or
n m 0 0 .i H0 N M(0 0.0'00 r"m m O
0
N in vi o N0.0 m.(O m m m m m tp m (D N N m N (O
0
0
O O O O O'O O.O
o O o 0 0 0
§§§§§0.0
0 0 0
0 0
0'.
0 0 0
0 00
0 0 0§§§§11§§§§§§.§§§1
88800§§§1§18 0
0 0 0 o d d d -0o 00 d d dd�d 0'o d
0 0 0 00 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0.0 0 0 0 00 0 0 00 0 0 0.•
0000000000000000000000000000
0 0 0 o O o o':0 0 0 0 0 0 0 0'.0'0'0 0 0 0 0 0 0.0 0 0 0
0 0 0 0 0 0 0 0'0 0 0 0 0 0 0 0 0 0 o O o 0 0 00 0 0 0
NN N'N tri ((i NN(0 0Ln0 Nmui N.NNN N Nm'N Nm
el elHH N N .� 1 ei n n
ni
OO(O(O.O ...0
m m 0 O m IN N 6('N N O W m'O2 W'.Q V N 8 N 0 o Ou01 M
N O aco O .i gat 4J m' H N m.0� M:.i 00 S dt n O N N e
rn n �'ry n m m .`oi m 0 e'0 .4 m O'c0v e m 1- m .i a o m m Oi
rn m m M io. m'. Nmv> 0
F2;!.,5,°?;
N' �+ !- m Ci O m
N N N NN N .v
o'o 000 0.0.0 0 0
0 0 0 0 0 0 00 0 0
0 0 0 0 0 0'0 0 0
0 0 8 0 m o 8 o m
oNci mao (o m N
a M'MN . NO
0 0 0 O'O.O O O O'OO OO O.O 0 0 0 0 0 0 0 0 0 0 0
N �m O O m:0'm O�^ O N O U1.0 O.O O
O O N O N n 0 R n0'N vl O v) N',D N O N
O Cl N N O m N tp (G N t"N tj N.m Qi m Oi n.ON.O
O O O 00.0 N N•m e O n 0 0 -m 0( 0'60 N M
(n (+)N N n(.j N OI CI NDN .i .y'O 0 O OT T m
N e -I .i .-1 N .v
N .miN m N m M N m m'O m Q
0
(V (O .i NO
N m O..i 'm a m W O f7.in.n 8 o ro aao m m m rn a, rnrn o 0 0 00'0 „,�
n 0 0 O0ON 0 0 0 (Ov 0
O M 0 n ('iN 0 0,(00 N O
0 N N N 0 N 0 .i 0
M
O
0 01 O 0 N M e O 0 n m O( O N M 0 m m m 0 0 0 N M e N
N N M i0 M' M M M M t
0000000000000000000000000000
0
a
L �y
G m
E
`0^ E >
V/
0 .c
c 1 N
> � c
0 •—E
13.12
CO
4-1 _
O
o L 0
mall
W
N c
■ FY 2018 Value of a Penny':
• Assumed Growth Rate:
'Source: FY 2018 Budget
0
m
Harriett County, NC
February 27, 2018
804-697-2907
a
a) i a)
a)+,
o
O U g
U
o c E 0
N 0
E LL -
c) O O
O 8 VI
tcole@investdavenport.com
Richmond, VA 23219
•
m "
a
- a)
2
O
4-J
a)
4-.
)
o,
O
704-644-5414
mbrigulio@investdavenport.com
U
4---
704-644-5413
chabliston@investdavenport.com
O -0
N
a)
O
O
z
February 27, 2018
Harnett County, NC
Municipal Advisor Disclosure
0 E_ C 'U g. c L f0 ` l0 .0 ; O 3 a c6 C
oeca 'oo Lc 63c2n °cy ooOE� Em
3 .o. 0 d Y= _ +c . ob m 3 E 3 c° o. ' c
Iyj C C N m C C 0. >` m 0 =° E y 0
30 3.E N �' a m e `0 ; 00 o o E 0 E �-
1 2 0 3 t o o E °i C >. 'o o ii (4 m° ca h 3
0 N a
on m y " co c N ° m0 O o° C •E ...-•
N N m
s. a c v 0 ; 0 0 E m c m C /O Y
6 m a° a o v_ m m v E o0 0
c`oq= «y a7ytco •omw Eoc c c5
m 3 0 m ,g O E= y '0 ° 2 E ° m 2 2
cE:=m m d sin3Ed c�N NO�'$c3
c
`I- •�`-••o V T Nc m E.°cc �d 0. oa
amm9" ca a3m i0 >=WmmGm�'
m G O yy ��
y< c« 0 «O >N 10 Y t 7. y n0 c m N N C
:O 0 CO 41 N 03 Z3 ° _C C 10 a+ �°pp Q1 O
W E N C C w •
0!1 E G E Y° �` N=> S '0
° 0 c°i •a 3 m >. E m n c m E as N N 007 0.c a
In m o a m m "' m r°, L S m m > u7 c° Y • c
m . 7 s oto as c E_@ co m t a E Q m
3 N p CO c U 0 d 3 a.T E
�0$ ar° aoE`'dE @0� ��0 E
> e0 @ r• 16 0 'U /0 O c3 c a 0 0 m 0 0
N G° 0 '� C E C C O 'U 3 � N i6 «
To- 1-.) s�o`m f0 syr, c°o °r°c 3E
a'2Y1� o ID oc•io3E0° c°o m�'EtO� °N
'U 3 > m r « 3 2 c w C a
w
DE ° � is om���« cpm .Nm.c.-v o~
AN* .� m .
_ 0.2 N c 0 L N d C :: N c r 0� L y =
tlo m w a m d 0? � «O t- E a umo n0 .0 00_
'p yy ypyyN E c c >. °'
00 0 C o c N m N C_ 0 O o C N .0 m E .„, C
�1-Q>a)°° ° al m .2 Vs' RI po> �2 0wEm�=oom�a« =o -
cnw 0mcNd
CD
O UN }'o-5
•Lv " d a' ~°mcV > 'OS
N= Om m °>°
umi 5i7 /16 m N O c«i p t
5 Ca
' aa)0 - Ccx 2�€mEc cocN `L°O•
a aN0 co E
(-Ti o° r c f0 c 3 c c r t= m do 3 °3 x m a°i a
a as = c0 0> a N~ N ,v1 N cc « C 16 a•C.+ a
° J m C N i0 m 2 E n =O „Ca' c« >. a.• .a'
j J C C 03 b° E O 3 m .C4 -,CD a m 0` = ric
N0]E��°«=i t oc�8°A v=U1i�E1v°i�:
oEEL.``'a0i me .e° ycc° oZc v°Enco«E
« N V 0 * <0 m a O ;° C7 0 ` .°. 07 w W m N O O
ac) aq'72°'cm y3 c. °3°>•00 �3s mE m cc
E 0 c y« = U m U C _ E tfi =_
tet,
m0 d 3 «: ° c>a o '.°-+ c�i 'o E ~ € �' CO3m 0 y
c °cIc6c3-00°w0 M0co°—A £acc6.t
9 m w m N 07 +-' E O N
0 0C , �a cc"i R°7° a °e780 ;t1 o 10
N 'S a c
03 0 'C • ; m T C = N 'O .Q O m O m N c0 ° > U
m v°o.nr E00 p0272 ca�0c92or 0°«� E2OEG`6
@ +a) 10 a 3 N �'' — O. L y N n0 : • c Oo G1 no �LC0 -2 �, '0 E
Q N .m. m 0 U° V f=0 E '0 y U 2. t00 N> t m C r N 3 0°
0 V 73 Zi nD 00 '0 0 '03 00 m N .N. N> y N t° ,0°�7 E S y d
3 N a 0 m w n0
'1...0 0 T .0 t' . « C '0 O 1/ W
d y (y[� _ v m 2 > a
E 2 N¢ Z' 0l N,r t 7 ° o Ec '� C m C m n0 C R m •� N N
C W r c- > a co c m c N 0 CO=`R CO 0j E 007 C 0 O G7 cc0 c N 3
TO m = .c O O C > L« F m 0 17
° ' )1 `�' U c0 m °7 cmc 0 o E 2� `O U c ° ° o m
a
Y...ofm >m3 °`m `0 ocmm'm_an:%01°0m «o °cc
O .....c.03c 0 oa.,aNi ccEEyc 03 L- E N c o°
02 C 3 .. 0° 0 c, ; 0 0.g— E C C 0- 0 a 07
O E° C . `° 3 jp o E t to ° W Y c° i0
-° o °0c > a cam ° E ' >�o 4 a3 °) o.c
O E: o f6.0 m ... CO N CO ,o E U D. °yi R° c E w d n«•.
10 0 �? a _ Q /6..2.3- w m O p c
•'i+ o f N .- 01 U ° •Cm,, C 0j ° a V 0 'j 3 m ... ° x/07 .0 l6 .0
to N N ,.��+ 0 E.0 yQ>1! w w a C C �0 3 0 'O C N y +r 0 0 N
.m.. 'COcm m .t' m 3> a "' a Z E m 07 a° •_ ?c N .` _ c <0
f6 ° s c -p c �` tlm� ° 0 c '47 co 0) 00 ° - ' o O i
N X' a° °i °y7 "8-EA
r. .0 .�3 07 2l6 t 0• .. N> {6 c o g N E -_
G iy ° C y. .', m °« m 0• t° N a 0 C 0. N m S ci c£ U c
N v y O` .0 N y O. C°7 i c C "5 E 2 E ° E E 03 45 cO ;
E 6° o�p �°o°i ac `o °7a3°`�`�o_ °c c!6 c°7°�' 0 Glc
0 0 19 b0 N' w .O .0 N /0 «.0.0”141r,6 1=0 IC0 N\
co co
W y om7 > .V •N 0 m cp 6 y l0 ..5. `�' N Ip ~ p° y 6° p.
O N CO CO 3 p CF.1 07 .m. L 0 am. a'�.. m d 3 7 C •
m C a O 7 r
O0.0000
c Cq•-0EC m °Nc mo43.22t, 03 0 3O�
m> m m y c E y m E ag E :13_ > o c E cm
.0 1- 3 0 W . . C '5.0 0. °j O L. L C .00 G p c .°). c>0
.c 7-Ea._o 3; 1-3° ra° 32 7-h«°° ro o n 0
Version 1.13.14 CH 1 MB 1 TC
C)
Harnett County, NC
February 27, 2018
NC Students Need H866/
S542 School Capital Bond
The Public School Building Bond Act
(HB 866/SB 542) would place a $1.9
billion school construction bond on the
ballot in November 2018.
• Counties urgently need a bond to
address over $8.1 billion in needs for
new facilities and renovations at public
schools throughout North Carolina.
• Historically, statewide school bonds have
boosted construction every ten years,
but the last one was in 1996 - over
twenty years ago.
• Between 2011 and 2015, nearly 75% of
the lottery funds allocated to counties
were spent to pay off capital debt rather
than for new construction or renovations.
• Public school capital needs will continue
to soar as school districts implement
the new mandate to lower class sizes in
grades kindergarten through third grade
over the next four years.
• The last statewide bond approved in
2016 - Connect NC - didn't provide any
funds for public school construction.
North Carolina Association of County Commissioners
353 East Six Forks Road, Raleigh NC 27609
www.ncacc.org I (919) 715-2893
• Now is the time to act because interest
rates are low and North Carolina currently
has the debt capacity to support a $1.9
billion bond.
• Delaying school construction projects
will only make the problem more
expensive later.
• The school construction bond can help
modernize school facilities to support
the state's transition to digital learning,
ensuring that North Carolina students
have the tools to compete in the
workforce of the future.
• All counties have limited options to raise
revenue to pay for school construction.
Many counties have no room to raise
property taxes and are seeing no growth
in their sales and property tax bases.
• Passage of the Public School Building
Bond Act builds on the General
Assembly's recent progress toward
addressing unmet school capital needs
and helps counties fund urgent projects
that aren't eligible for the new Needs -
Based grant program.
To learn more or to join the effort
visit www.ncschoolbond.com
North Carolina Association of County Commissioners
353 East Six Forks Road, Raleigh NC 27609
www.ncacc.org I (919) 715-2893