Board of Supervisors Meeting Date: 

Harry F. Atherton, Chairman, Marshall District Supervisor

August 9, 2007

Staff Lead:


Paul S. McCulla, County Administrator

County Administration


Update Regarding Financing Options for Capital Projects


Topic Description:

This work session is a follow-up to the July 12, 2007 Financial Advisor presentation, and to answer questions related to Lease Revenue Bond Financing options and to discuss long-term financial policies.    The topics to be covered are: 

1.      Update on School Board Issues including July 23rd School Board presentation by financial advisors and subsequent School Board questions and responses.

2.      The County’s Financial Advisors will discuss their assessment of the County’s financial policies and introduce their policy change recommendations.  Any policy changes will be brought to the board at a later date for action.  Focus on pages 34-40.

3.      Update on debt capacity limits based on approved CIP.

4.      Address any Questions related to the Lease Revenue Bond Financing Option.

5.      Next Steps (VPSA or Lease Revenue Bonds).  


Requested Action of the Board of Supervisors: 

Conduct a work session.

Financial Impacts Analysis:

See reports attached.

Identify any other Departments, Organizations or Individuals that would be affected by this request:

Fauquier County School Board
Finance Department
Budget Office


1.      Financial Advisor Presentation to School Board July 23, 2007 Work Session

2.      Financial Advisor Memorandum to School Board with Follow-up to School Board Questions

3.      Financial Advisor Report

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