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•Does not provide for a reduction in force <br /> •Funds local school districts at the same funding level for current expense, <br /> recurring and long range capital <br /> Fiscal Year Tax Increase Approved Amended Difference <br /> Ending/Ended <br /> 2007 Yes $163,473,184 $166,585,727 $3,112,543 <br /> 2008 Yes $173,625,351 $177,228,766 $3,604,415 <br /> 2009 Yes $183,005,580 $191,754,758 $8,749,178 <br /> 2010 No $177,589,039 $185,940,474 $8,351,435 <br /> 2011 No $175,313,920 $181,143,619 $5,829,699 <br /> 2012 — Mgr's No $177,279,970 N/A <br /> Recommended <br /> Difference in 2009-2012 2009-2011 <br /> Budget Since <br /> Last Tax $ ($5,725,610) $ (10,611,139) <br /> Increase/Reval <br /> Proposed Ad Valorem Tax Rate Effective July 1, 2011 <br /> •Recommended tax rate of 85.8 cents per$100 of assessed valuation <br /> •This rate produces $133 million in property tax revenues for FY2011-12 <br /> •Overall Property valuation increased 1.2% <br /> •One cent on property tax estimated to generate $1,537,967 <br /> General Fund Revenues <br /> - Property Taxes—75.3% <br /> - Sales Taxes— 8.6% <br /> - Intergovernmental Revenues —9.0% <br /> - Charges for Services, Licenses, and Permits— 5.5% <br /> - Investment Earnings, Miscellaneous, Transfers — 1.5% <br /> Sales Tax Revenues <br /> •Recommended Sales Tax Revenues of$15.3 million is 5.5% higher than the $14.5 million <br /> budgeted in 2010-11 <br /> •Actual sales tax revenues are down over 47% since the peak of$22.5 million in fiscal <br /> 2007-08 <br /> •The Medicaid - Sales Tax swap will continue to limit future growth of sales tax revenues <br /> •2011-2012 Sales Tax Revenues estimated to grow by 1 to 2 percent next year. <br /> Proposed Chapel Hill Carrboro City Schools District Tax Rate Effective July 1, 2011 <br /> •Recommended tax rate of 18.84 cents per$100 of assessed valuation <br /> •Represents no increase in the property tax rate for the District <br />