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TABLE 9(CONTINUED)
<br /> REVENUE SOURCES FOR PUBLIC SCHOOL CAPITAL FUNDING
<br /> FY 1996-97 TO FY 2005-06
<br /> 10-Year '
<br /> Fiscal Year Annual
<br /> Revenue Source 2001-02 2002-03 2003-04 2004-OS 2005-06 Avera e
<br /> SALES TAX 7%Annual Growth Rate
<br /> All Revenue
<br /> Article 40 1st 1/2 cent $4,986,930 $5,336,015 $5,709,536 $6,109,203 $6,536,848 $4,912,593
<br /> Article 42 1st 1/2 cent $4,964,932 $5,312,477 $5,684,351 $6,082,255 $6,508,013 $4,890,923
<br /> Total $9,951,862 $10,648,492 $11,393,887 $12,191,459 $13,044,861 $9,803,516
<br /> School Revenue
<br /> Article 40(80°/a of 1 st 1/2 cent) $3,989,544 $4,268,812 $4,567,629 $4,887,363 $5,229,478 $3,930,074
<br /> Article 42(60%of ist 1/2 cent) $2,978,959 $3,187,486 $3,410,610 $3,649,353 $3,904,808 $2,934,554
<br /> Total $6,968,503 $7,456,298 $7,978,239 $8,536,716 $9,134,286 $6,864,628
<br /> Population (1.94%Avg Annual Growth) 120,881 123,243 125,630 128,042 130,479 119,814
<br /> Per Ca ita School Revenue $58 $61 $64 $67 $70 $57
<br /> PROPERTY TAX 5%Annuai Growth Rate in Assessed Valuation � 98%Collection Rate
<br /> Assessed Value(100s) $76,490,484.63 $80,315,009 $84,330,759 $88,547,297 $92,974,662 $75,382,198
<br /> Debt Service
<br /> Principal-School Bonds $7,030,000 $7,030,000 $7,030,000 $7,030,000 $7,030,000 $5,949,500
<br /> Interest-School Bonds $6,083,605 $5,901,605 $5,719,605 $5,537,605 $5,455,605 $4,896,599
<br /> Private Placement-CHCCS Principal $1,173,287 $1,173,287 $1,173,287 $1,173,287 $1,173,287 $1,043,485
<br /> Private Placement-CHCCS Interest $1,183,425 $1,183,425 $1,183,425 $1,183,425 $1,183,425 $1,099,350
<br /> Service Charge-Schools $1,000 $1,000 $1,000 $1,000 $1,000 $985
<br /> Recurring Capital $2,019,174 $2,069,649 $2,121,390 $2,174,424 $2,228,787 $1,993,590
<br /> School Capital Projects Reserve' $0 $0 $0 $0 $0 $176,317
<br /> Total $17,490;491 $17,358,966 $17,228,707 $17,099,741 $17,072,104 $15,159,826
<br /> Tolal Tax Rate Re uirement $0.2287 $0.2161 $0.2043 $0.1931 $0.1836 $0.2009
<br /> PUBLIC SCHOOL BUILDING FUND State Cor orate Income Tax Refund Estimates
<br /> Amount $759,281 $793,956 $832,219 $871,678 $911,137 $734,160
<br /> Average Daily School Attendance 15,162 15,279 15,313 15,331 15,291 14,896
<br /> Per Student PSBF Fievenue $50 $52 $54 $57 $60 $49
<br /> TOTAL SCHOOL CAPITAL FUNDS $25,218,275 $25,609,220 $26,039,165 $26,508,135 $27,117,527 $22,758,614
<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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