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Known Impacts on 2010-2011 Budget
<br /> 2009-10 Budget Changes 2010-11 Budget
<br /> Property Taxes $130,571,195 1,306,005 $131,877,200
<br /> Sales Tax 16,873,405 (987,405) 15,886,000
<br /> Licenses & Permits 288,000 288,000
<br /> Intergovernmental 16,724,924 (143,000) 16,581,924
<br /> Charges for Services 9,698,897 (65,000) 9,633,897
<br /> Investment Earnings 670,000 670,000
<br /> Miscellaneous 762,618 762,618
<br /> Transfers 2,000,000 100,000 2,100,000
<br /> TOTAL REVENUE $177,589,039 210,600 177,799,639
<br /> Debt Service Increase (3,746,162)
<br /> Probation Parole Rent (20,000)
<br /> Net Reduction in Resources ($3,555,562)
<br /> Three Contrasting Approaches to Funding Capital for 2010-11 (including debt Service)
<br /> •Maintain Debt Policy— Debt service no more than 15% of total General Fund Budget.
<br /> •Fund Capital needs without a Tax Increase
<br /> •Increase Taxes to cover the net increase in Debt Service
<br /> The remainder of the presentation had various tables and graphs, which are incorporated by
<br /> reference.
<br /> Projected New Financing
<br /> General Fund Debt Amount Estimated Issuance
<br /> Prop Inf Mgt System $750,000 2009-10
<br /> Phone System 575,000 2009-10
<br /> Parks Open Space 2,700,000 2009-10
<br /> Carrboro High Arts Wing 4,200,000 2009-10
<br /> Stanford Middle Auditorium 3,300,000 2009-10
<br /> Efland Sewer Loan* 3,500,000 2009-10
<br /> Elementary#11 31,000,000 2011-12
<br /> $46,025,000
<br /> Hillsborough Commons $17,000,000 2011-12
<br /> (purchase price approx.
<br /> $14.9m)
<br /> Enterprise Debt
<br /> Transfer Station $8,000,000 2009-10
<br /> *Efland Sewer will become enterprise debt when revenue is adequate to support debt service.
<br /> Commissioner Nelson arrived at 6:22 PM.
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