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Analysis based on reasonable assumptions, but other scenarios are possible <br />Focus on "scope and scale" of potential financial impacts, not precise figures <br />Tax Rate Impact Of Hypothetical School Merger <br />^ Major assumptions <br />. Effective date of July 1, 2005 <br />. Produce same $1,167 per pupil as CHCCS district tax does in 2003-04 <br />^ Uses certified student membership estimates derived from SAPFO forecasting <br />models <br />. CHCCS district tax proceeds replaced far 2005-06 with countywide funding <br />proceeds; district tax rate at zero <br />^ Estimated Countywide tax rate increase of 17 cents per $100 assessed <br />valuation <br />Capital Investment Plan and SAPFO Implications <br />^ Schools Adequate Public Facilities Ordinance Memo of Understanding would need to <br />be reworked among new parties to agreement <br />^ School Impact Fee Technical Report update needed to reflect student generation <br />rates in a merged system <br />^ Combined available building capacity could allow unused space to be filled through <br />student reassignment <br />^ With addition of new capacity already "in the works", further new school opening <br />timelines could be delayed beyond current 10 year CIP cycle <br />Other Potential Financial Implications <br />^ Affect on percentage of General Fund budget earmarked for education <br />^ Future disposition of CHCCS district tax unresolved <br />^ Not automatically abolished by merger plan <br />^ Could be discontinued as result of referendum, or by General Assembly legislative <br />action <br />^ Could remain on the books but unlevied <br />Other Approaches To Equalizing Funding <br />^ Countywide Supplemental Tax <br />^ Increase Countywide Ad Valorem Tax Rate <br />^ Implementation of Orange County Schools Supplemental Tax <br />Hypothetical Countywide Supplemental Tax <br />^ Could be part of a merger plan, or an alternative thereto <br />^ BOCC may initiate, or may pursue in response to Board of Education-approved <br />petition <br />^ In either case, subject to affirmative vote in referendum <br />^ Proceeds distributed on per pupil basis <br />^ General Assembly has previously approved legislation permitting implementation of a <br />countywide tax without a referendum <br />^ Major Assumptions: <br />. CHCCS district tax incrementally reduced to zero <br />^ CHCCS "held harmless" by continued funding of $1,167 per pupil <br />. Tax base growth of 3°!° in non-revaluation years, 25% in revaluation years (2005, <br />2009, 2013} <br />. Student membership based on certified SAPFO projections <br />