Orange County NC Website
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Schools receive the equivalent of 2 cents on the tax rate for recurring capital. This amount is <br /> distributed to each district based on its share of the total number of students. For fiscal year <br /> 2009-10, the recommended budget provides total funding for recurring capital at $3 million. Of <br /> the total, recurring capital for the Chapel Hill-Carrboro City Schools equals $1,861,467, and <br /> Orange County Schools' allocation is $1,138,533. <br /> Long-Range Capital and School Capital Projects <br /> The County plans and programs long-range school capital funding through the County's Capital <br /> Investment Plan (CIP). Projects are funded by a combination of State and local bonds, non- <br /> bond financing and pay-as-you-go funding sources. The latter include dedicated half-cent sales <br /> tax revenues and property tax earmarked under the Board's Capital Funding 'Policy. With the <br /> updated Capital Funding Policy adopted by the Board in April 2007, North Carolina Public <br /> School Building Capital funds and School Construction Impact Fees offset School related debt <br /> service associated with construction of new school seats. <br /> Debt Service <br /> These funds repay principal and interest due on School related debt including general obligation <br /> bonds and private placement loans. <br /> Durham Technical Community College (DTCC] <br /> The Orange County Satellite Campus of Durham Technical Community College, located at the <br /> Waterstone Development located just south of Hillsborough off Highway 86, held its grand <br /> opening on May 2, 2008. <br /> As with local school districts, counties in North Carolina are responsible for supplementing state <br /> and federal appropriations to community colleges. For the most part, counties are responsible <br /> for day-to-day operating costs such as utilities, security and custodians. Counties are not <br /> responsible for teaching staff. <br /> The recommended budget provides $742,567 to DTCC for fiscal year 2009-10. This includes <br /> current expense funding of $537,521, recurring capital of $15,000 and debt service allocations <br /> of $1901046. <br /> 14-4 <br />