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TABLE 9 (CONTINUED)
<br />REVENUE SOURCES FOR PUBLIC SCHOOL CAPITAL FUNDING
<br />FY 1996 -97 TO FY 2005 -06
<br />TOTAL SCHOOL CAPITAL FUNDS 1 $25,218,2751 $25,609,2201 $26,039,1651 $26,508,1351 $27,117,5271$22,758,6141
<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 />10 -Year
<br />Fiscal Year
<br />Annual
<br />Revenue Source
<br />Avera e
<br />2001 -02 2002 -03 2003 -04 2004 -05 2005 -06
<br />SALES TAX 7% Annual Growth Rate
<br />All Revenue
<br />Article 40 1st 1/2 cent
<br />$4,986,930
<br />$5,336,015
<br />$5,709,536
<br />$6,109,203
<br />$6,536,848
<br />$4,912,593
<br />Article 42 1st 112 cent
<br />$4,964,932
<br />$5,312,477
<br />$5,684,351
<br />$6,082,255
<br />$6,508,013
<br />$4,890,923
<br />Total
<br />$9,951,862
<br />$10,648,492
<br />$11,393,887
<br />$12,191,459
<br />$13,044,861
<br />$9,803,516
<br />School Revenue
<br />Article 40 (80% of 1st 1/2 cent)
<br />$3,989,544
<br />$4,268,812
<br />$4,567,629
<br />$4,887,363
<br />$5,229,478
<br />$3,930,074
<br />Article 42 (60% of 1st 1/2 cent)
<br />$2,978,959
<br />$3,187,486
<br />$3,410,610
<br />$3,649,353
<br />$3,904,808
<br />$2,934,554
<br />Total
<br />$6,968,503
<br />$7,456,298
<br />$7,978,239
<br />$8,536,716
<br />$9,134,286
<br />$6,864,628
<br />Population (1.94% Avg Annual Growth)
<br />120,881
<br />123,243
<br />125,630
<br />128,042
<br />130,479
<br />119,814
<br />Per Capita School Revenue
<br />$58
<br />$61
<br />$64
<br />$67
<br />$70
<br />$57
<br />PROPERTY TAX 5% Annual Growth Rate In Assessed Valuation @ 98% Collection Rate
<br />Assessed Value (100s)
<br />$76,490,484.63
<br />$80,315,009
<br />$84,330,759
<br />$88,547,297
<br />$92,974,662
<br />$75,382,198
<br />Debt Service
<br />Principal - School Bonds
<br />$7,030,000
<br />$7,030,000
<br />$7,030,000
<br />$7,030,000
<br />$7,030,000
<br />$5,949,500
<br />Interest - School Bonds
<br />$6,083,605
<br />$5,901,605
<br />$5,719,605
<br />$5,537,605
<br />$5,455,605
<br />$4,896,599
<br />Private Placement - CHCCS Principal
<br />$1,173,287
<br />$1,173,287
<br />$1,173,287
<br />$1,173,287
<br />$1,173,287
<br />$1,043,485
<br />Private Placement - CHCCS Interest
<br />$1,183,425
<br />$1,183,425
<br />$1,183,425
<br />$1,183,425
<br />$1,183,425
<br />$1,099,350
<br />Service Charge - Schools
<br />$1,000
<br />$1,000
<br />$1,000
<br />$1,000
<br />$1,000
<br />$985
<br />Recurring Capital
<br />$2,019,174
<br />$2,069,649
<br />$2,121,390
<br />$2,174,424
<br />$2,228,787
<br />$1,993,590
<br />School Capital Projects Reserve'
<br />$0
<br />$0
<br />$0
<br />$0
<br />$0
<br />$176,317
<br />Total
<br />$17,490491
<br />$17,358,966
<br />$17,228,707
<br />$17,099,741
<br />$17,072,104
<br />$15,159,826
<br />Total Tax Rate Requirement 1
<br />$0.22871
<br />$0.21611
<br />$0.20431
<br />$0.19311
<br />$0.1836
<br />$0.2009
<br />PUBLIC SCHOOL BUILDING FUND State Corporate Income Tax Refund Estimates
<br />Amount
<br />$759,281
<br />$793,956
<br />$832,219
<br />$871,678
<br />$911,137
<br />$734,160
<br />Average Daily School Attendance
<br />15,162
<br />15,279
<br />15,313
<br />15,331
<br />15,291
<br />14,896
<br />Per Student PSBF Revenue
<br />$50
<br />$52
<br />$54
<br />$57
<br />$60
<br />$49
<br />TOTAL SCHOOL CAPITAL FUNDS 1 $25,218,2751 $25,609,2201 $26,039,1651 $26,508,1351 $27,117,5271$22,758,6141
<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
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