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4 <br />A scheduled reduction in debt service for schools in FY2011 -12 (refinancing gains and paying off some <br />debt) actually reduces the County funding percentage for FY2011 -12 from 48.0% in FY2010 -11 to an <br />estimated 47.4 %. A NOTE OF CAUTION: This is a temporary reduction from the 48.1% goal. New <br />anticipated debt service for the Chapel Hill - Carrboro Elementary #11 project (expected within a few <br />years) will substantially increase the County funding allocation to education. That increase in debt <br />service could negatively impact available funding for current expense and operations once the debt is <br />incurred. <br />RECOMMENDATION(S): The Manager recommends that the Board discuss the issues noted and <br />provide direction to staff, as appropriate. <br />