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• One cent on tax rate generates $1,011,179 <br />Major Milestones far Fiscal Year 2403-04 <br />• Schools Adequate Public Facilities Ordinance {SAPFO} provides for reasonable and <br />sustainable construction of new school space for students <br />• Development of recreational facilities at Little River Park, Efland Cheeks Park, Twin Creeks <br />Park and West Ten Soccer Complex <br />• Creation of emergency notification network for non-English speaking residents during natural <br />disaster periods <br />• Cedar Grove Branch Library at Northern Human Services Center opened in April 2004 <br />• Students in both school districts have new learning environments with opening of Rashkis <br />Elementary School and OCS alternative school <br />Tonight's Presentation <br />/General Fund Revenue Highlights <br />/General Fund Expenditure Highlights <br />/Solid Waste Enterprise Fund <br />/On the Horizon <br />General Fund Revenue Highlights <br />Property Taxes Remain Largest Single Source of Revenue <br />General Fund Revenues <br />• Estimated real property tax base growth for fiscal year 2004-05 will be about 4 percent <br />- Properly Tax revenue increases about $7.65 million from original 2003-04 budget <br />. Approximately $3.1 million comes from natural tax base growth and the balance <br />produced by the proposed tax rate increase <br />• Projected overall growth in sales tax is 4.5 percent <br />• Able to appropriate $1.6 million out of fund balance <br />- Equivalent of about 1.6 cents on tax rate <br />• State and Federal assistance to local governments continues to erode <br />- Overall expected growth in other County revenues, including those revenues received <br />from State and Federal sources, totals $300,000 <br />Growth in Property Tax Base Compared to County Operating Budget Growth <br />General Fund Expenditure Highlights <br />Orange County Has Historically Led The State in Education Funding <br />Source: Annual Publr"c School Forum Report <br />Public Education Funding for Fiscal Year 2004-05 <br />• Total General Fund appropriation for Education increases by 5.6 percent and totals $66.3 <br />million <br />- Reflects a $3.5 million increase from 2003-04 <br />