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Recommended Budget, and schedule a work session in September of 2009 to decide about <br /> the details of adopting. <br /> VOTE: Ayes, 5, No, 1 (Commissioner Jacobs — he said that this Board has repeatedly <br /> complained about receiving reports but not adopting them) <br /> (Commissioner Nelson was absent) <br /> b. Presentation of Recommended Fiscal Year 2009-10 Annual Operating <br /> Budget <br /> The Board received the presentation of the Recommended FY 2009-10 Annual <br /> Operating Budget. <br /> County Manager's Recommended 2009-10 Annual Operating Budget <br /> Presentation <br /> Southern Human Services Center, Chapel Hill <br /> Orange County, NC <br /> May 19, 2009 <br /> Guiding Principles <br /> •Meets Board directives <br /> •Balances County's operating budget at revenue neutral tax rate <br /> •Funds local school districts at 48.1% of the County's General Fund <br /> •Allows for full year costs of operating new County facilities <br /> •Addresses County priorities such as providing safety net and implementing comprehensive <br /> plan <br /> Proposed Ad Valorem Tax Rate Effective July 1, 2009 <br /> •Recommended tax rate of 85.8 cents per$100 of assessed valuation <br /> •This is the rate that produces the same amount of property tax levy as budgeted in <br /> current year <br /> •Commonly referred to as revenue neutral property tax rate <br /> •Current year tax rate is 99.8 cents per$100 assessed valuation <br /> •One cent on property tax estimated to generate $1,505,352 <br /> Proposed Chapel Hill Carrboro City Schools District Tax Rate Effective July 1, 2009 <br /> •Recommended tax rate of 18.84 cents per$100 of assessed valuation <br /> •Represents revenue neutral property tax rate for District <br /> •Current year tax rate is 23 cents per$100 assessed valuation <br /> •Recommended tax rate will generate $18.7 million <br /> •In addition to monies district will receive from Countywide tax <br /> •One cent on district tax estimated to generate $993,725 <br /> Recommended General Fund Budget <br />