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30 <br />School District Additional Employees: The number of additional employees required per <br />school district based on the project development <br />SECTION 4 - PROJECTED NET FISCAL IMPACT ON COUNTY <br />Tax Base: The tax base represents the increase in assessed property value expected each <br />year resulting from project development The values shown are in $1,000's and are derived <br />from a formula which includes the number and sales price of homes, and the assessment <br />ratio. Where applicable, the percentage of non - elderly units and elderly exemption are also <br />used. <br />Revenues: All revenues are derived from a formula which multiplies the per capita revenues <br />(Section 2) times the projected population (Section 3). The exception to this is the property <br />tax which multiplies the tax base times the county government tax rate. <br />Expenditures: All expenditures are derived from a formula which multiplies the per <br />employee expenditure (Section 2) times the number of additional employees (Section 3). <br />Net Fiscal Impact: The net balance is the difference between projected expenditures and <br />projected revenues. A negative net balance indicates that it costs Orange County more to <br />provide services to a project than it receives in revenues. A positive net balance indicates <br />that more revenues are received than it costs to serve a project Positive net balances in one <br />project may thus be used to offset negative balances in another. <br />SECTION 5 - PROJECTED NET FISCAL IMPACT ON SCHOOL DISTRICT <br />Revenues: The County contribution is derived by transferring education expenditures by <br />County government (Section 4). Revenues derived from the school district tax are derived by <br />multiplying the school district tax times the tax base. State revenues are derived by <br />multiplying the per student expenditure figure times the total projected number of s_ chool <br />children (Section 3). <br />Expenditures: Expenditures are derived from a formula which multiplies each per student <br />expenditure (Section 2) times the total projected number of school children (Section 3) and <br />adding the results. <br />Net Fiscal. Impact: The net balance is the difference between projected expenditures and <br />projected revenues. A negative net balance indicates that it costs the school system more to <br />provide educational services for children in a project than it receives in revenues. A positive <br />net balance indicates that more revenues are received than it costs to serve a project. <br />Positive net balances in one project may thus be used to offset negative balances in another. <br />SECTION 6 - SUMMARY OF PROJECTED IMPACTS <br />SECTION 7 - SUMMARY OF PROJECTED PUBLIC SCHOOL CAPACITY IMPACTS <br />