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Manager's Recommended Budget <br />Fiscal Year 2006-07 <br />Orange County, NC <br />May 2b, 2006 <br />Presentation to Board of County Commissioners <br />Achievements <br />• Long-term commitment to enhancing quality of life far citizens <br />- One of the highest per pupil expenditures in the State <br />- Almost one-third of a billion dollars dedicated to construction and renovation of schools <br />since 1988 <br />- Master Aging Plan that provides along-term strategic plan for offering services to our <br />senior population <br />- Construction of state of the art senior centers <br />- Affordable Housing opportunities for families and individuals who otherwise could not <br />afford to live in Orange County <br />• Lands Legacy program has protected just over 1700 acres <br />• Progressive partnerships with Towns and neighboring Counties to provide park, recreational <br />and library services to citizens in all areas of the County <br />Fiscal Year 2006-07 <br />Budget Briefs <br />General Fund Budget totals $164.7 million <br />- Original fiscal year 2QQ5-06 budget totaled $149.9 million <br />- Recommendation represents a 9.9 percent increase over 2005-06 original budget <br />• Countywide ad valorem tax rate of 91.3 cents per $100 of assessed valuation <br />- Increase of 7 cents over the 2005-06 rate of 84.3 cents <br />- One cent on the property tax rate should generate $1,207,023 in upcoming fiscal year <br />General Fund Revenues (chart) <br />Revenue Highlights <br />Lottery Proceeds <br />• Change in environment regarding the likelihood that counties will likely receive lottery <br />proceeds next year <br />• Recommended budget anticipates receipt of $2.4 million in Lottery Proceeds <br />• Earmarked for school construction and school-related debt service <br />• As lottery revenue stream becomes more established and predictable Board may wish to <br />update its May 2005 capital funding policy <br />