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6oZ� -doa 7. o <br /> x '94--246 7 <br /> ORANGE COUNTY CL, <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: June 26, 2007 <br /> Action Agen a <br /> Item No. �P <br /> SUBJECT: Approval of Fiscal Year 2007-08 Budget Ordinance, Capital Project <br /> Ordinances, and Grant Project Ordinances <br /> DEPARTMENT: Budget PUBLIC HEARING: (Y/N) No <br /> ATTACHMENT (S): <br /> Attachment 1. Resolution of Intent to <br /> Adopt the 2007-08 <br /> Orange County Budget <br /> Attachment 2. FY 2007-08 Budget <br /> Ordinance <br /> Attachment 3. 2007-08 County Capital <br /> Budget <br /> Attachment 4. County Capital Project INFORMATION CONTACT: <br /> Ordinances Donna Coffey, (919) 245-2151 <br /> Attachment 5. OCS Capital Project <br /> Ordinances TELEPHONE NUMBERS: <br /> Attachment 6. CHCCS Capital Project Hillsborough 732-8181 <br /> Ordinance;; Chapel Hill 968-4501 <br /> Durham 688-7331 <br /> Attachment 7. County Grant Project Mebane 336-227-2031 <br /> Ordinances <br /> PURPOSE: To adopt County's budget ordinance, School and County capital project <br /> ordinances, and County grant project ordinances for fiscal year 2007-08. <br /> BACKGROUND: <br /> Annual Operating Budget <br /> At the final fiscal year 2007-08 budget work session on June 21, 2007, the Board made a series <br /> of decisions specifying the major decision points. The fiscal year 2007-08 approved General <br /> Fund budget totals $173,624,351 compared to the County Manager's recommended total of <br /> $172,206,470. Major changes to the budget included: <br /> • Increasing the.ad valorem property tax rate by 4.7 cents bringing the ad valorem property <br /> tax rate for fiscal year 2007-08 to 95 cents per$100 of property valuation <br /> • Increasing the Chapel Hill Carrboro City Schools Special District tax rate by 1.5 cents <br /> bringing the district tax rate to 20.35 cents per$100 of property valuation. <br /> A <br />