Agenda - 05-24-2012 - 1 - Laserfiche WebLink

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elsewhere. We have included funding the increased student enrollment at the current per pupil funding at $3,102, which represents a $1.7 million increase in the funding between both districts. If the County Commission agrees to increase the property tax rate to generate additional revenues to address the current expense request of both school districts, increases in the property tax rate outlined below will produce the following property tax revenues: Property Tax Per Pupil Tax Increase Revenues Generated Equivalency 1 cent $1,574,232 $79.91 1.5 cents $2,361,348 $119.87 2 cents $3,148,464 $159.82 2.5 cents $3,935,580 $199.78 3 cents $4,722,696 $239.73 *Based on 19,700 Students Both school districts have available fund balance that each could use to fund their budget needs. The Board can authorize each school district to use excess fund balance to address their funding needs. The estimated excess fund balance for each school district is as follows: Chapel Hill Carrboro City Schools - 5.5% local funding minimum requirement Orange County Schools - 3% local funding minimum requirement Estimated Excess Existing Fund Above Established Balance Minimum $ 6,675,445 $ 3,316,138 $ 4,875,245 $ 4,155,549 Details regarding recommended funding levels for local school districts and Durham Technical Community College are located in the Education section of the budget document. During tonight's work session, Commissioners will have the opportunity to dialogue with the Boards of Education about county funding and anticipated State funding for schools next year. Attachments 1 & 2 provide additional information of how Orange County compares with other counties within North Carolina related to Current Expense funding per pupil, and other educational related funding issues. County Support of Orange County Campus of Durham Technical Community College As with local school districts, counties in North Carolina are responsible for supplementing state and federal appropriations to community colleges. For the most part, counties are responsible for day -to- day operating costs such as utilities, security and custodians. Counties are not responsible for teaching staff. The recommended budget provides $569,450 to Durham Technical Community College for FY2012- 13 which includes appropriations of current expense of $529,450 and recurring capital of $40,000..