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TABLE 9
<br /> REVENUE SOURCES FOR PUBLIC SCHOOL CAPITAL FUNDING
<br /> FY 1996-97 TO FY 2005-06
<br /> 5-Year
<br /> Fiscal Year Annual
<br /> Revenue Source 1996-97 1997-98 1998-99 1999-2000 2000-01 Avera e
<br /> SALES TAX 7%Annual Growth Rate
<br /> All Revenue
<br /> Artide 40 1st 1/2 cent $3,555,612 $3,804,505 $4,070,820 $4,355,778 $4,660,682 $4,089,479
<br /> Artide 42 1st 1/2 cent $3,539,928 $3,787,723 $4,052,864 $4,336,564 $4,640,123 $4,964,932
<br /> Total $7,095,540 $7,592,228 $8,123,684 $8,692,342 $9,300,806 $8,160,920
<br /> SchoolRevenue
<br /> Artide 40(80%ot 1st 1/2 cent) $2,844,490 $3,043,604 $3,256,656 $3,484,622 $3,728,546 $3,271,583
<br /> Artide 42(60%of ist 1/2 cent) $2,123,957 $2,272,634 $2,431,718 $2,601,938 $2,784,074 $2,442,864
<br /> Total $4,968,446 $5,316,238 $5,688,374 $6,086,560 $6,512,620 $5,714,448
<br /> Population(1.94%Avg Mnual Growth) 109,451 111,686 113,947 116,234 118,545 113,973
<br /> Per Ca ita School Revenue $45 $48 $50 $52 $55 $50
<br /> PROPERTY TAX 5°/a Annual Growth Rate In Assessed Valuatfon � 98%Collectlon Rate
<br /> Assessed Value(100s) $59,932,296 $62,928,911 $66,075,357 $69;379,124 $72,848,081 $66,232,754 !
<br /> Debt Service !
<br /> Principal-School Bonds $4,285,000 $4,280,000 $4,270,000 $5,265,000 $6,245,000 $4,869,000 �
<br /> Interest-SchoolBonds $3,717,900 $3,501,615 $3,285,585 $4,372,715 $5,390,150 $4,053,593
<br /> Private Placement-CHCCS Principal $519,058 $469,828 $1,234,360 $1,177,448 $1,167,725 $913,684
<br /> Private Placement-CHCCS Interest $442,242 $1,143,532 $1,122,351 $1,179,261 $1,188,987 $1,015,275
<br /> Service Charge-Schools $852 $1,000 $1,000 $1,000 $1,000 $970
<br /> Recurring Capital $1,624,500 $1,856,528 $1,949,652 $1,921,875 $1,969,920 $1,864,495
<br /> School Capital Projects Reserve' $494,442 $618,843 $649,884 $0 $0 $352,634
<br /> Total $11,083,994 $11,871,346 $12,512,832 $13,917,299 $15,962,782 $13,069,651
<br /> Total Tax Rate Re uirement $0.1849 $0.1886 $0.1894 $0.2006 $0.2191 $0.1965
<br /> PUBUC SCHOOL BUILDING FUND State Cor orate Income Tax Refund Estlmates
<br /> Amount $455,462 $640,905 $656,449 $694,712 $725,801 $634,666
<br /> Average Daily School Attendance 13,967 14,254 14,564 14,802 15,000 14,517
<br /> Per St�ent PSBF Revenue $33 $45 $45 $47 $48 $44
<br /> TOTAL SCHOOL CAPITAL FUNDS $16,507,902 $17,828,489 $18,857,655 $20,698,571 $23,201,203 $19,418,764
<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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