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Recommended General Fund Budget Totals $172.2 Million <br />• Recommendation represents a 5.3 percent increase over 2006-07 original budget <br />• Increase of $8.7 million over original fiscal year 2006-07 budget of $163.5 million <br />Recommended Tax Rates <br />• Countywide ad valorem tax rate of 94 cents per $100 of assessed valuation <br />- Increase of 3.7 cents over the 2006-07 rate of 90.3 cents <br />• Impact an taxpayer with $200,000 in valued property is $74 per year <br />- One cent on property tax rate generates $1,247,881 <br />• Maintains Chapel Hill Carrboro Special District tax rate at 18.85 cents per $100 of <br />assessed valuation <br />- One cent on property tax rate generates $802,246 <br />General Fund Revenues- pie chart <br />Education Funding <br />Overview <br />• Overall Education support totals $82.5 million <br />-Includes funding for local school systems and Orange County Satellite Durham <br />Technical Community College <br />• Increase of $2.2 million from fiscal year 2006-07 approved support <br />Education Funding <br />Current Expense <br />• Total current expense funding equals $55 million <br />- Chapel Hill-Carrboro Schools - $33.7 million <br />- Orange County Schools - $21.1 million <br />- Durham Technical Community College - $181,000 <br />Increase provides funding for 11,530 elementary, middle and high students <br />- Increase of 338 students from previous school year <br />- Recommended budget maintains per pupil appropriation for CHCCS and OCS at <br />$2,957 <br />• CHCCS to receive additional $15,122,338 from district tax <br />- Equivalent of $1,329 per pupil <br />• Provides 4 months operational funding for community college satellite campus <br />Per Pupil Allocations fo Local Schools <br />State Mandated Funding Formula -table <br />Additional Education Funding <br />• Recurring Capital - $2.4 million <br />• Long-Range Capital - $4.1 million <br />