Orange County NC Website
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Current CHCCS Tax Rate (in cents): 18.84 <br /> 1 Cent Increase Generates: $1,013,877 <br /> Proposed Per Pupil Increase <br /> $ $67 $220 <br /> Funding Per Pupil 3,102 3,169 3,322 <br /> Cost of Per Pupil Increase - 811,705 2,665,300 <br /> CHCCS Current Expense $37,580,730 $38,392,435 $40,246,030 <br /> District Tax Effect of Per Pupil <br /> Increase - 0.80 2.63 <br /> Revised CHCCS Tax Rate (in cents): - 18.04 16.21 <br /> Orange County's Cash Flow Activity(General Fund) FY 2011-12 <br /> County's Beginning Cash Balance (7/1/2011) $34,723,620 <br /> Cash Balance (as of 10/31/11) $13,294,911 <br /> Beginning Fund Balance (7/1/2011) $27,782,007 <br /> Fund Balance (as of 10/31/11) $6,353,298 <br /> Donna Coffey said that Superintendent Rhodes is looking at some examples that could <br /> be hitting OCS in the fall and they may have to use the rest of their fund balance. <br /> Superintendent Rhodes said that his wish is not to come to the Board as a bank. He <br /> said that OCS has built up the fund balance largely by using the State's funding flexibility rules. <br /> This will be greatly restricted this year. He said that there is still the possibility of big payouts to <br /> the charter schools and they have to be prepared for that. He said that there is also a <br /> possibility for a payout for homeschooled students, and that would mean an obligation of <br /> $831,000 from OCS. This is a serious threat to funding. There is also a possibility of a 10% <br /> reduction in Title I funding from the Federal government. <br /> Donna Coffey said that this is a long-term problem and OCS is losing funding for 39 <br /> teachers, so if the fund balance is used this year, then next year OCS will be in the same <br /> position asking for more funds. <br /> Chair Pelissier echoed the sentiment of her colleagues and said that these are issues <br /> that are not going to go away. She said that the schools have some of the same budget <br />