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TABLE 9
<br />REVENUE SOURCES FOR PUBLIC SCHOOL CAPITAL FUNDING
<br />FY 1996 -97 TO FY 2005 -06
<br />jTOTAL SCHOOL CAPITAL FUNDS I $16,507,902L__ $17,828,4891 $18,857,6551 $20,698,5711 $23,201,2031 $ e i u man
<br />Source: Recommended FY 1998 -2008 Capital Improvements Program and Approved FY 1998 -99 Budget.
<br />Average daily school attendance based on N.C. Department of Public Instruction projections.
<br />'The current commitment for this fund is only through FY 1998 -99
<br />00
<br />5 -Year
<br />Fiscal Year
<br />Annual
<br />Revenue Source
<br />Average
<br />1996 -97 1997-9- 1999 -2000 2000 -01
<br />SALES TAX 7% Annual Growth Rate
<br />All Revenue
<br />Article 40 1st 1/2 cent
<br />$3,555,612
<br />$3,804,505
<br />$4,070,820
<br />$4,355,778
<br />$4,660,682
<br />$4,089,479
<br />Article 42 1st 1/2 cent
<br />$3,539,928
<br />$3,787,723
<br />$4,052,864
<br />$4,336,564
<br />$4,640,123
<br />$4,964,932
<br />Total
<br />$7,095,540
<br />$7,592,228
<br />$8,123,684
<br />$8,692,342
<br />$9,300,806
<br />$8,160,920
<br />School Revenue
<br />Article 40 (80% of 1st 1/2 cent)
<br />$2,844,490
<br />$3,043,604
<br />$3,256,656
<br />$3,484,622
<br />$3,728,546
<br />$3,271,583
<br />Article 42(60 1/o of1s11 /2 cent)
<br />$2,123,957
<br />$2,272,634
<br />$2,431,718
<br />$2,601,938
<br />$2,784,074
<br />$2,442,864
<br />Total
<br />$4,968,446
<br />$5,316,238
<br />$5,688,374
<br />$6,086,560
<br />$6,512,620
<br />$5,714,448
<br />Population (1.94% Avg Annual Growth)
<br />109,451
<br />111,686
<br />113,947
<br />116,234
<br />118,545
<br />113,973
<br />Per Capita School Revenue
<br />1 $45
<br />$48
<br />$50
<br />$52
<br />$55
<br />$50
<br />PROPERTY TAX 5% Annual Growth Rate
<br />In Assessed Valuation
<br />0 98% Collection Rate
<br />Assessed Value (100s)
<br />$59,932,296
<br />$62,928,911
<br />$66,075,357
<br />$69,379,124
<br />$72,848,081
<br />$66,232,754
<br />Debt Service
<br />Principal - School Bonds
<br />$4,285,000
<br />$4,280,000
<br />$4,270,000
<br />$5,265,000
<br />$6,245,000
<br />$4,869,000
<br />Interest - School Bonds
<br />$3,717,900
<br />$3,501,615
<br />$3,285,585
<br />$4,372,715
<br />$5,390,150
<br />$4,053,593
<br />Private Placement - CHCCSPrincipal
<br />$519,058
<br />$469,828
<br />$1,234,360
<br />$1,177,448
<br />$1,167,725
<br />$913,684
<br />Private Placement - CHCCS Interest
<br />$442,242
<br />$1,143,532
<br />$1,122,351
<br />$1,179,261
<br />$1,188,987
<br />$1,015,275
<br />Service Charge - Schools
<br />$852
<br />$1,000
<br />$1,000
<br />$1,000
<br />$1,000
<br />$970
<br />Recurring Capital
<br />$1,624,500
<br />$1,856,528
<br />$1,949,652
<br />$1,921,875
<br />$1,969,920
<br />$1,864,495
<br />School Capital Projects Reserve'
<br />$494,442
<br />$618,843
<br />$649,884
<br />$0
<br />$0
<br />$352,634
<br />Total
<br />$11,083,994
<br />$11,871,346
<br />$12,512,832
<br />$13,917,299
<br />$15,962,782
<br />$13,069,651
<br />Total Tax Rate Requirement 1
<br />$0.18491
<br />$0.1886
<br />$0.18941
<br />$0.20061
<br />$0.21911
<br />$0.1965
<br />PUBLIC SCHOOL BUILDING FUND State Cor orate Income Tax Refund Estimates
<br />Amount
<br />$455,462
<br />$640,905
<br />$656,449
<br />$694,712
<br />$725,801
<br />$634,666
<br />Average Daily School Attendance
<br />13,967
<br />14,254
<br />14,564
<br />14,802
<br />15,000
<br />14,517
<br />Per Student PSBF Revenue
<br />$33
<br />$45
<br />$45
<br />$47
<br />$48
<br />$44
<br />jTOTAL SCHOOL CAPITAL FUNDS I $16,507,902L__ $17,828,4891 $18,857,6551 $20,698,5711 $23,201,2031 $ e i u man
<br />Source: Recommended FY 1998 -2008 Capital Improvements Program and Approved FY 1998 -99 Budget.
<br />Average daily school attendance based on N.C. Department of Public Instruction projections.
<br />'The current commitment for this fund is only through FY 1998 -99
<br />00
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