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Guiding Principles <br /> ■Meets Board directives <br /> ❑Balances County's operating budget without a property tax rate increase <br /> ❑Fund local school districts at 48.1% of the County's General Fund <br /> Proposed Ad Valorem Tax Rate Effective July 1, 2010 <br /> ❑Recommended tax rate of 85.8 cents per$100 of assessed valuation <br /> ■This is the rate that produces $132 million in property tax revenues for FY2010-11 <br /> ■Overall Property valuation increased 1.1% <br /> ❑One cent on property tax estimated to generate $1,521,612 <br /> FY 2010-11 General Fund Revenues <br /> Total <br /> Property Taxes.............................. $ 132,047,738 <br /> Sales Taxes................................. 14,463,000 <br /> Intergovernmental Revenues.............. 16,250,267 <br /> Charges for Services....................... 9,650,631 <br /> Licenses and Permits...................... 313,000 <br /> Investment Earnings........................ 140,000 <br /> Miscellaneous............................... 726,384 <br /> Transfers..................................... 1,321,227 <br /> TOTAL....................................... $ 175,912,247 <br /> Revenues by Source (chart) <br /> Property Taxes as a Percentage of General Fund Revenues (2006-2010 table) <br /> Sales Tax Revenues <br /> ❑Recommended Sales Tax Revenues of $14.4 million is 14.3% less than the $16.8 million <br /> budgeted in 2009-10 <br /> ■Actual sales tax revenues are down over 30% since the peak of $22.5 million in fiscal <br /> 2007-08 <br /> ■The Medicaid - Sales Tax swap will limit future growth of Sales Tax Revenues <br /> Proposed Chapel Hill Carrboro City Schools District Tax Rate Effective July 1, 2010 <br /> ❑Recommended tax rate of 18.84 cents per$100 of assessed valuation <br /> ■Represents no increase in the District tax rate <br /> ❑Recommended tax rate will generate $18.6 million <br /> ■In addition to funds district will receive from Countywide property taxes <br /> ❑One cent on district tax estimated to generate $987,247 <br /> Recommended Funding for Chapel Hill Carrboro City and Orange County Schools <br /> ❑Total General Fund appropriation totals $84.1 million <br /> ■These funds will fund day-to-day operations, repayment of school related debt, and <br /> capital <br /> ■Appropriation equals 48.1 percent of total General Fund <br /> ■Reflects $1.3 million decrease from current year General Fund appropriation <br /> ■Funds the projected additional 279 students for both districts <br /> ■Equates to $3,096 per student for each of the 19,177 students in both districts for day- <br /> to-day operating funds <br />